Recently asked questions relating to Hastings leasehold conveyancing
I am on look out for some leasehold conveyancing in Hastings. Before I set the wheels in motion I want to be sure as to the unexpired term of the lease.
Assuming the lease is recorded at the land registry - and most are in Hastings - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I have recently realised that I have 72 years unexpired on my lease in Hastings. I am keen to get lease extension but my freeholder is can not be found. 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 lengthened by the magistrate. You will be obliged to prove that you or your lawyers have made all reasonable attempts to find the freeholder. In some cases an enquiry agent would be useful to conduct investigations and prepare an expert document which can be accepted by the court as proof that the freeholder can not be located. It is wise to seek advice from a solicitor both on devolving into the landlord’s absence and the application to the County Court overseeing Hastings.
I am hoping to complete next month on a garden flat in Hastings. Conveyancing solicitors have said that they report fully tomorrow. What should I be looking out for?
The report on title for your leasehold conveyancing in Hastings should include some of the following:
- Whether the lease restricts you from letting out the property, or having a home office for business
I've found a house that seems to be perfect, at a great figure which is making it more attractive. I have just discovered that the title is leasehold as opposed to freehold. I would have thought that there are issues buying a leasehold house in Hastings. Conveyancing advisers have are soon to be appointed. Will they explain the issues?
The majority of houses in Hastings are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Hastings so you should seriously consider shopping around for a Hastings conveyancing solicitor and check that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example requiring the landlord’spermission to carry out alterations. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the house is part of an estate. Your lawyer will appraise you on the various issues.
If all goes to plan we aim to complete the disposal of our £300000 garden flat in Hastings in just under a week. The managing agents has quoted £384 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Hastings?
Hastings conveyancing on leasehold maisonettes normally involves the buyer’s solicitor sending enquiries for the landlord to address. Although the landlord is not legally bound to respond to these enquiries the majority will be willing to do so. They are at liberty charge a reasonable administration fee for answering enquiries or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some transactions it is in excess of £800. The management information fee required by the landlord must be accompanied by a synopsis of rights and obligations in relation to administration fees, without which the charge is not strictly payable. In reality you have little option but to pay whatever is demanded should you wish to sell the property.
Hastings Leasehold Conveyancing - Sample of Questions you should consider before buying
You should be aware that where the lease has less than 80 years it will affect the marketability of the property. Check with your bank that they are willing to go ahead with the loan given the lease term. Leases with fewer than 80 years remaining means that you will almost definitely have to extend the lease at some point and it is worth discovering how much this will be. Remember, in most cases you would be be obliged to have owned the residence for 24 months in order to be eligible to exercise a lease extension.
For many Hastings leaseholds the cost for major works tend not to be included within service charges, albeit that there some managing agents in Hastings ask leaseholders to pay into a sinking fund and this is used to offset against larger works.
The best form of lease structure is if the freehold interest is in the ownership of the leaseholders. In this situation the tenants enjoy being in charge if their destiny and even though a managing agent is often retained where the building is bigger than a house conversion, the managing agent is directed by the tenants.