Legal Knowledge Legal Questions & Answers
Q
We want to buy a flat but the agent says the lease is very short, about 65
years he thinks, and he believes that is why the flat is cheap. He also says we may be able to extend the lease but has given no other information. Te flat is lovely and we want it. We have never bought a leasehold flat and don’t really understand why it is so cheap. Does it really matter or should we walk away? Could we extend the lease easily?
A
Te value of the property usually decreases as the length of the
residential lease gets shorter. You are unlikely to get a mortgage on the flat in view of the short lease, and even if you could get a loan, the terms on the loan are unlikely to be favourable. Establish whether the landlord is prepared to grant a new lease to the seller, which should be completed before, or at the same time that you complete the purchase of the flat. If you are likely to get a longer lease at completion, a lender may be prepared to lend to you. If the landlord will not do this, then provided the seller has owned the flat for at least two years, they have a statutory right to extend the lease,
although there are some exceptions. Te seller could start this process by serving an initial Notice on the landlord, the benefit of which can be transferred to you on completion. Tis is a complex and oſten costly procedure, but genuinely worth it as the value of the flat is likely to increase once the lease is extended. Instruct a solicitor who is specialist in this field. You will need a specialist surveyor too.
Q
My daughter lives in the top floor flat of an Edwardian terraced property in
Roath. Tere are dormer windows and a skylight in the roof which we believe were in place when the 999 year lease was first drawn up back in the 90s. Are these dormer windows and skylights a shared cost when it comes to doing repairs, which at least one dormer badly needs
A
Leases vary and as there is no standard template. Your daughter
should check the terms of hers before she does anything about the work required. Te flat in which she has a leasehold
interest will be referred to as the demised premises. Te lease should define the extent of those premises and should also define the common parts of the building. Te lease should also impose express repairing covenants on the leaseholder and landlord. Look carefully on the description of the demised premises and at the leaseholders repairing covenants to see if the dormer windows and skylight are mentioned. Your daughter will be responsible for repairing the demised premises. Generally the landlord is responsible for the repair and fabric of the building which usually means the structure and exterior, including the roof and windows. If responsibility for the dormer windows and skylight is not covered specifically in the lease, examine the general repairing covenants in the lease to see if they assist with your query in any way. Tough the dormer windows and skylight presumably only serve your daughter’s flat they are still part of the fabric of the building, and so arguably are also the responsibility of the landlord.
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