Top Five Questions relating to Eastbourne leasehold conveyancing
I would like to let out my leasehold apartment in Eastbourne. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
Even though your previous Eastbourne conveyancing solicitor is not around you can review your lease to check if it allows you to sublet the apartment. The accepted inference is that if the lease is non-specific, subletting is allowed. There may be a precondition that you must seek permission from your landlord or some other party prior to subletting. This means that you cannot sublet in the absence of first obtaining consent. Such consent should not be unreasonably turned down. If your lease prohibits you from subletting the property you should ask your landlord for their consent.
I am hoping to exchange soon on a ground floor flat in Eastbourne. Conveyancing lawyers inform me that they are sending me a report next week. What should I be looking out for?
The report on title for your leasehold conveyancing in Eastbourne should include some of the following:
- The total extent of the property. This will be the apartment itself but could also incorporate a loft or cellar if appropriate.
I am a negotiator for a busy estate agency in Eastbourne where we see a few flat sales derailed due to leases having less than 80 years remaining. I have received inconsistent advice from local Eastbourne conveyancing firms. Could you clarify whether the vendor of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?
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. The benefit of this is that the buyer can avoid having to sit tight for 2 years to extend their lease. 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 sale.
An alternative approach is 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.
Do you have any advice for leasehold conveyancing in Eastbourne with the aim of speeding up the sale process?
- Much of the delay in leasehold conveyancing in Eastbourne can be avoided where you get in touch lawyers as soon as your agents start marketing the property and request that they start to collate the leasehold documentation needed by the purchasers’ lawyers.
- In the event that you altered the property did you need the Landlord’s permission? In particular have you laid down wooden flooring? Most leases in Eastbourne state that internal structural alterations or addition of wooden flooring necessitate a licence issued by the Landlord consenting to such changes. Where you dont have the consents to hand do not contact the landlord without checking with your lawyer first.
Are there frequently found problems that you witness in leases for Eastbourne properties?
There is nothing unique about leasehold conveyancing in Eastbourne. Most leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain provisions are not included. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain parts of the property
- 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 a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Skipton Building Society, and Bank of Ireland all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, forcing the buyer to pull out.
Eastbourne Conveyancing for Leasehold Flats - A selection of Questions you should consider before Purchasing
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Best to be warned if window replacement or some other major work is pending to be shared amongst the tenants and could well materially increase the the maintenance fees or necessitate a specific payment.
Are any of leasehold owners in arrears of their service charge liability?
Make sure you enquire if there are any onerous prohibitions in the lease. For instance it is reasonably common in Eastbourne leases that pets are not permitted in certain buildings in Eastbourne. If you like the propertyin Eastbourne however your dog is not allowed to move with you then you will be presented with a hard choice.
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