Frank (my husband) and I may need to rent out our Ottery St Mary basement flat for a while due to taking a sabbatical. We used a Ottery St Mary conveyancing practice in 2002 but they have closed and we did not have the foresight to seek any advice as to whether the lease allows us to sublet. How do we find out?

Some leases for properties in Ottery St Mary do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to review references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.

Due to complete next month on a garden flat in Ottery St Mary. Conveyancing solicitors assured me that they are sending me a report within the next couple of days. What should I be looking out for?

The report on title for your leasehold conveyancing in Ottery St Mary should include some of the following:

• The unexpired lease term You should be advised as what happens when the lease ends, and aware of the importance of the 80 year mark

I am attracted to a couple of flats in Ottery St Mary which have about fifty years unexpired on the lease term. Will this present a problem?

There are no two ways about it. A leasehold flat in Ottery St Mary is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it reduces the marketability of the premises. The majority of purchasers and lenders, leases with less than 75 years become less and less marketable. 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 premises 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 Ottery St Mary conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new 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.

I am employed by a reputable estate agency in Ottery St Mary where we see a number of leasehold sales put at risk due to leases having less than 80 years remaining. I have been given inconsistent advice from local Ottery St Mary conveyancing firms. Please can you confirm whether the seller of a flat can start the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.

Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

All being well we will complete the disposal of our £150000 maisonette in Ottery St Mary in just under a week. The landlords agents has quoted £360 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Ottery St Mary?

Ottery St Mary conveyancing on leasehold maisonettes often requires the purchaser’s lawyer sending questions for the landlord to address. Although the landlord is under no legal obligation to respond to these enquiries most will be willing to do so. They are entitled charge a reasonable charge for responding to questions or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is over three hundred pounds, in some situations it is above £800. The administration charge required by the landlord must be sent together with a summary of entitlements and obligations in relation to administration charges, without which the charge is not strictly payable. Reality however dictates that you have no choice but to pay whatever is demanded if you want to sell the property.

Ottery St Mary Leasehold Conveyancing - Examples of Questions you should consider before Purchasing

The answer will be important as a) areas may cause problems in the building as the communal areas may start to deteriorate if services remain unpaid b) if the tenants have a dispute with the running of the building you will need to have all the details Who are the managing agents? Is anyone aware of any major works in the planning that could increase the maintenance costs?

Other Topics

Lease Extensions in Ottery St Mary