Frequently asked questions relating to Hove leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Hove. Before diving in I would like to find out the remaining lease term.
If the lease is registered - and most are in Hove - 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 want to let out my leasehold flat in Hove. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
The lease dictates relations between the freeholder and you the flat owner; specifically, it will set out if subletting is prohibited, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in Hove do not contain subletting altogether – such a provision would adversely affect the market value the property. In most cases there is a basic requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.
I have recently realised that I have Sixty One years remaining on my lease in Hove. I now wish to extend my lease but my landlord is can not be found. What are my options?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. You will be obliged to demonstrate that you have made all reasonable attempts to find the lessor. On the whole a specialist should be useful to carry out a search and prepare a report which can be used as proof that the freeholder can not be located. It is wise to seek advice from a conveyancer both on proving the landlord’s disappearance and the vesting order request to the County Court covering Hove.
Due to exchange soon on a ground floor flat in Hove. Conveyancing lawyers assured me that they are sending me a report within the next couple of days. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Hove should include some of the following:
- Whether the lease restricts you from subletting the property, or working from home
I've recently bought a leasehold property in Hove. Am I liable to pay service charges relating to a period prior to completion of my purchase?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Hove Conveyancing for Leasehold Flats - Examples of Queries before Purchasing
Please note that where the lease has less than eighty years it will impact the marketability of the apartment. It is worth checking with your lender that they are happy with residual term of the lease. Leases with less than 80 years remaining means that you will most likely need a lease extension at some point and you need to have some idea of what this will be. For most Hovelease extensions you would be be obliged to have owned the property for 24 months in order to be eligible to carry out a lease extension.
What is the name of the managing agents?
The best form of lease arrangement is a share of the freehold. In this situation the lessees benefit from being in charge if their destiny and notwithstanding that a managing agent is frequently employed where it is larger than a house conversion, the managing agent retained by the leaseholders.