I want to rent out my leasehold flat in Woolacombe. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

A lease dictates relations between the landlord and you the leaseholder; in particular, it will set out if subletting is prohibited, or permitted but only subject to certain conditions. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. Most leases in Woolacombe do not prevent strict prohibition on subletting – such a clause would adversely affect the market value the property. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.

I have just started marketing my basement apartment in Woolacombe.Conveyancing lawyers have not yet been instructed but I have just received a yearly maintenance charge invoice – should I leave it to the buyer to sort out?

It best that you discharge the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

I work for a busy estate agency in Woolacombe where we have experienced a number of leasehold sales jeopardised due to short leases. I have been given inconsistent advice from local Woolacombe conveyancing solicitors. Please can you shed some light as to whether the vendor of a flat can start the lease extension formalities 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 commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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.

What advice can you give us when it comes to appointing a Woolacombe conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a conveyancer for your lease extension (regardless if they are a Woolacombe conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with two or three firms including non Woolacombe conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be helpful:

• How experienced is the firm with lease extension legislation?
• Can they put you in touch with client in Woolacombe who can give a testimonial?

Are there frequently found problems that you see in leases for Woolacombe properties?

Leasehold conveyancing in Woolacombe is not unique. Most leases is drafted differently and drafting errors can result in certain sections are erroneous. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts of the building
• A duty to insure the building
• 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 may 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 , Bank of Scotland, and Aldermore all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the purchaser to pull out.

Woolacombe Leasehold Conveyancing - A selection of Queries before Purchasing

If a Woolacombe lease has fewer than eighty years it will have adverse implications on the marketability of the flat. Check with your lender that they are willing to go ahead with the loan given the lease term. A short lease means that you will almost definitely require a lease extension sooner rather than later and it is worth finding out how much this will be. For most Woolacombelease extensions you would be be obliged to have owned the property for a couple of years in order to be legally able to exercise a lease extension. Are there any major works in the planning that will likely add a premium to the maintenance charges?