Living away while going through lease extension process

Hi anselld,

Many thanks for your reply. I am living there at the moment but due to move in with my partner at some point between Dec 2017 and Jan 2018.

I had a surveyor come round before I instructed a solicitor to act on this. The surveyor visited, asked questions, asked for documents, took measurements of the property and its pictures and its lease etc before coming back to me with a report of what the lease was worth and where I should start negotiations.

My solicitor is however on the slow side and has not served a section 42 yet. If it is delayed I might fire him and find another.

I am hoping if this is still going on while I move out, that the tenant who rents my flat does not end up in the thick of it or if it creates any future issues.

Thanks for all your advice above guys, but am facing the following dilemma below, and would like to hear your thoughts regarding this:

I am in the middle of my mortgage term at the moment and would look to fund my lease extension when I come round to remortgaging as mentioned above, my existing deal runs out in October 2018. This is to avoid the early repayment charge of approx. £4k as I would face now and I can ask my lender (Santander) for a bit more equity as I have built on my property over the last 3 years in order to fund this. I have built up approx.. £50k in the property if I look at present value and the value when I first bought it. I estimate it would take me around 20k to extend this lease and the lender would probably be willing to lend me this given my history.

Right now it might be a bit impossible to fund this.

My fixed term mortgage deal runs out in Sept/Oct 2018 before it goes on to the standard variable rate so I would need to be in a position to approach my lender by July 2018 with the estimated cost of what a lease extension might be so I can ask them for additional equity. Would it normally be possible to draw up the paperwork, serve notice to the freeholder and be on negotiating terms to be able to get this far into the lease extension process by then?

Also, I have a couple of points on my lease on page 2 and 3 (attached) that I am unsure of and need some advice on. Please find written below:

(c) Not to assign sublet or part with the possession of part only of the flat

(d) Not to assign sublet or part with the possession of the whole of the flat unless there shall first have been executed at the expense of the tenant and delivered to the landlord for retention by him a deed expressed to be made between landlord of the first part and tenant of the second part and the person or persons to whom it is proposed to assign sublet to part with possession as aforesaid of the third part whereby the person or persons to whom it is proposed to assign sublet or part with possession shall have covenanted directly with the landlord to observe and perform throughout the said term the covenants on the part of the tenant herein contained including this present covenant but excluding in the case of a subletting the covenant to pay the rent hereby reserved

e) To deliver to the landlords solicitors a notice in writing of every assignment disposition or devolution of or charge on or transfer of title to the flat or any part thereof whether by way of mortgage or otherwise within one month after the execution of any deed or document or after the date of any Grant of Probate or Letters of administration or the perfection of any court order by which such assignment disposition devolution charge or transfer may be effected or evidenced and also at the time of delivering every such notice to produce the deed document instrument or order effecting such assignment disposition devolution charge or dealing and to pay a registration fee of TWENTY POUNDS (£20.00) plus VAT

Does this mean that there will be issues ongoing if I decided to rent the flat out in the near future and that I would need to seek permission from the freeholder to do this? And also, does this mean that I would not be able to change the lease or extend it if I have rented the place out? Is there any way these kind of clauses could be amended to my benefit?

Thanks in advance.