I wish to sublet my leasehold apartment in Sandhurst. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?

A lease governs the relationship between the freeholder and you the flat owner; specifically, it will say if subletting is not allowed, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no expres ban or restriction, subletting is allowed. Most leases in Sandhurst do not prevent an absolute prevention of subletting – such a provision would adversely affect the market value the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the sublease.

I am looking at a couple of maisonettes in Sandhurst both have in the region of fifty years remaining on the lease term. should I be concerned?

There are plenty of short leases in Sandhurst. The lease is a right to use the property for a prescribed time frame. As a lease gets shorter the value of the lease deteriorate and it becomes more expensive to extend the lease. This is why it is often a good idea to increase the term of the lease. It is often difficulties arise selling premises with a short lease because mortgage lenders may be unwilling to lend money on properties of this type. Lease extension can be a protracted process. We recommend you seek professional help from a solicitor and surveyor with experience in this field

I work for a busy estate agent office in Sandhurst where we have witnessed a number of flat sales put at risk due to leases having less than 80 years remaining. I have been given inconsistent advice from local Sandhurst conveyancing firms. Could you shed some light as to whether the vendor of a flat can initiate the lease extension process for the buyer?

As long as the seller has been the owner 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 sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as 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 buyer.

Can you provide any advice for leasehold conveyancing in Sandhurst from the point of view of expediting the sale process?

• Much of the frustration in leasehold conveyancing in Sandhurst can be bypassed where you instruct lawyers the minute you market your property and ask them to collate the leasehold documentation needed by the purchasers’ representatives.
• If you have carried out any alterations to the property would they have required Landlord’s approval? Have you, for example installed wooden flooring? Sandhurst leases often stipulate that internal structural changes or installing wooden flooring require a licence from the Landlord consenting to such works. Should you dont have the consents to hand do not contact the landlord without contacting your solicitor before hand.

What are the frequently found defects that you come across in leases for Sandhurst properties?

Leasehold conveyancing in Sandhurst is not unique. All leases are individual and drafting errors can sometimes mean that certain sections are wrong. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain elements of the building
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

You could have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , Coventry Building Society, and Nottingham Building Society all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, forcing the buyer to withdraw.

Sandhurst Conveyancing for Leasehold Flats - Sample of Queries Prior to buying

The best form of lease structure is if the freehold title is owned by the leaseholders. In this scenario the lessees have control and notwithstanding that a managing agent is usually employed if the building is bigger than a house conversion, the managing agent retained by the leaseholders. Is the freehold reversion owned collectively by the leaseholders? This question is useful as a) areas may result in problems in the block as the communal areas may begin to deteriorate if services are not paid for b) if the leasehold owners have an issue with the running of the building you will need to have complete disclosure

Other Topics

Lease Extensions in Sandhurst