Recently asked questions relating to Bognor Regis leasehold conveyancing
My wife and I may need to let out our Bognor Regis garden flat temporarily due to taking a sabbatical. We used a Bognor Regis conveyancing practice in 2004 but they have closed and we did not think at the time seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
The lease dictates relations between the freeholder and you the leaseholder; in particular, it will set out if subletting is not allowed, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no expres ban or restriction, subletting is allowed. The majority of leases in Bognor Regis do not contain strict prohibition on subletting – such a clause would undoubtedly devalue the flat. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.
Having checked my lease I have discovered that there are only 68 years remaining on my flat in Bognor Regis. I am keen to get lease extension but my landlord is missing. What should I do?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. However, you will be required to demonstrate that you have done all that could be expected to track down the freeholder. For most situations a specialist may be helpful to carry out a search and prepare a report to be used as proof that the landlord is indeed missing. It is wise to seek advice from a property lawyer both on devolving into the landlord’s absence and the application to the County Court overseeing Bognor Regis.
I’m about to sell my ground floor flat in Bognor Regis.Conveyancing solicitors are to be appointed soon but I have just received a half-yearly service charge invoice – what should I do?
Your conveyancing lawyer is likely to suggest that you should pay the service charge 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 management companies will not acknowledge the buyer unless 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. Having a clear account will assist your cause and will leave you no worse off financially.
I am a negotiator for a busy estate agent office in Bognor Regis where we have experienced a few leasehold sales put at risk as a result of short leases. I have received conflicting advice from local Bognor Regis conveyancing firms. Please can you shed some light as to whether the owner of a flat can initiate the lease extension process for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having 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 at the same time as 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.
If all goes to plan we aim to complete the disposal of our £275000 maisonette in Bognor Regis next week. The managing agents has quoted £300 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Bognor Regis?
Bognor Regis conveyancing on leasehold apartments ordinarily necessitates fees being raised by freeholders :
- Completing conveyancing due diligence enquiries
- Where consent is required before sale in Bognor Regis
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I invested in buying a garden flat in Bognor Regis, conveyancing formalities finalised half a dozen years ago. How much will my lease extension cost? Similar properties in Bognor Regis with over 90 years remaining are worth £211,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease runs out on 21st October 2078
With only 52 years unexpired we estimate the price of your lease extension to be between £32,300 and £37,400 plus professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of detailed due diligence. You should not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.
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