Having had my offer accepted I require leasehold conveyancing in Nafferton. Before diving in I want to be sure as to the remaining lease term.

Assuming the lease is registered - and almost all are in Nafferton - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

Frank (my husband) and I may need to rent out our Nafferton garden flat for a while due to a career opportunity. We instructed a Nafferton conveyancing practice in 2004 but they have since shut and we did not think at the time get any guidance as to whether the lease permits subletting. How do we find out?

Even though your last Nafferton conveyancing lawyer is no longer around you can review your lease to check if it allows you to sublet the premises. The accepted inference is that if the deeds are silent, subletting is permitted. Quite often there is a prerequisite that you must obtain permission via your landlord or other appropriate person in advance of subletting. The net result is that you cannot sublet in the absence of first obtaining permission. The consent is not allowed to be unreasonably turned down. If your lease does not allow you to sublet you should ask your landlord if they are willing to waive this restriction.

I am attracted to a two maisonettes in Nafferton which have in the region of forty five years unexpired on the leases. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold apartment in Nafferton is a wasting asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it adversely affects the salability of the property. For most buyers and banks, leases with under 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Nafferton conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

What are your top tips when it comes to choosing a Nafferton conveyancing practice to carry out our lease extension conveyancing?

When appointing a property lawyer for your lease extension (regardless if they are a Nafferton conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you make enquires with two or three firms including non Nafferton conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be helpful:

• How familiar is the firm with lease extension legislation?

Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £375000 flat in Nafferton next week. The landlords agents has quoted £420 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Nafferton?

Nafferton conveyancing on leasehold maisonettes usually involves the buyer’s lawyer submitting enquiries for the landlord to address. Although the landlord is under no legal obligation to respond to these enquiries most will be content to assist. They are at liberty levy a reasonable administration fee for answering questions or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is over three hundred pounds, in some situations it is above £800. The management information fee levied by the landlord must be accompanied by a synopsis of rights and obligations in respect of administration fees, without which the invoice is technically not due. In reality one has no choice but to pay whatever is demanded if you want to sell the property.

Nafferton Conveyancing for Leasehold Flats - A selection of Questions you should ask before buying

Plenty Nafferton leasehold apartments will be liable to pay a service charge for the upkeep of the building invoiced on behalf of the management company. Should you acquire the apartment you will have to pay this amount, normally in instalments throughout the year. This could vary from a few hundred pounds to thousands of pounds for buildings with lifts and large communal grounds. There will also be a ground rent for you to pay yearly, normally this is not a large amount, say about £50-£100 but you should to check as occasionally it can be prohibitively expensive. Please note that where the lease has fewer than 80 years it will affect the value of the flat. It is worth checking with your mortgage company that they are content with remaining years on the lease. A short lease means that you will almost definitely have to extend the lease at some point and it is worth discovering how much this will be. Remember, in most cases you would be be obliged to have owned the premises for two years before you are eligible to extend the lease. You will want to find out as much as possible regarding the managing agents as they will impact your use and enjoyment of the property. Being a leasehold owner you are frequently at the mercy of the managing agents both financially and when it comes to daily issues such as the cleanliness of the communal areas. Don't be shy to ask prospective neighbours whether they are happy with their management. In conclusion, investigate as to the dates that you are obliged pay the maintenance charge to the appropriate party and specifically what you get for your money.

Other Topics

Lease Extensions in Nafferton