Recently asked questions relating to Hove leasehold conveyancing
I am on look out for some leasehold conveyancing in Hove. Before I get started I want to be sure as to the number of years remaining on the lease.
Assuming the lease is registered - and almost all are in Hove - then the leasehold title will always include the short particulars 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.
Harry (my fiance) and I may need to rent out our Hove basement flat for a while due to a career opportunity. We instructed a Hove conveyancing practice in 2002 but they have since shut and we did not have the foresight to get any guidance as to whether the lease allows us to sublet. How do we find out?
Notwithstanding that your previous Hove conveyancing lawyer is not available you can review your lease to check if you are permitted to let out the apartment. The rule is that if the lease is non-specific, subletting is permitted. There may be a precondition that you need to obtain consent from your landlord or other appropriate person before subletting. This means you not allowed to sublet without first obtaining permission. The consent should not be unreasonably withheld. If the lease prohibits you from letting out the property you will need to ask your landlord for their consent.
I have recently realised that I have Sixty One years unexpired on my lease in Hove. I now want to extend my lease but my freeholder is missing. What options are available to me?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. You will be obliged to prove that you or your lawyers have used your best endeavours to find the freeholder. In some cases a specialist may be helpful to carry out a search and prepare a report which can be accepted by the court as evidence that the landlord is indeed missing. It is advisable to get professional help from a solicitor both on devolving into the landlord’s absence and the application to the County Court covering Hove.
I am tempted by the attractive purchase price for a couple of maisonettes in Hove both have about 50 years unexpired on the leases. should I be concerned?
There are plenty of short leases in Hove. The lease is a right to use the property for a period of time. As a lease shortens the marketability of the lease reduces and it becomes more costly to extend the lease. This is why it is often a good idea to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a protracted process. We recommend you seek professional help from a conveyancer and surveyor with experience in this field
Can you offer any advice when it comes to appointing a Hove conveyancing practice to deal with our lease extension?
If you are instructing a solicitor for your lease extension (regardless if they are a Hove conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with several firms including non Hove conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:
- Can they put you in touch with client in Hove who can give a testimonial?
I purchased a studio flat in Hove, conveyancing formalities finalised 2001. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Hove with an extended lease are worth £242,000. The average or mid-range amount of ground rent is £50 per annum. The lease runs out on 21st October 2085
With 60 years remaining on your lease we estimate the premium for your lease extension to span between £20,000 and £23,000 plus costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.
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