I wish to let out my leasehold flat in Hove. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?

Notwithstanding that your previous Hove conveyancing lawyer is not around you can check your lease to see if it allows you to sublet the property. The accepted inference is that if the deeds are non-specific, subletting is allowed. Quite often there is a prerequisite that you are obliged to seek consent from your landlord or other appropriate person prior to subletting. This means that you cannot sublet in the absence of prior consent. Such consent should not be unreasonably turned down. If the lease prohibits you from subletting the property you should ask your landlord if they are willing to waive this restriction.

Due to complete next month on a studio apartment in Hove. Conveyancing solicitors have said that they are sending me a report on Monday. 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:

• How long the lease is You should be advised as what happens when the lease expires, and informed of the importance of not letting the lease term falling below eighty years
• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
• The total extent of the premises. This will be the apartment itself but could also incorporate a loft or basement if appropriate.
• Repair and maintenance of the flat
• Changes to the flat (alterations and additions)
• What options are open to you if a neighbour is in violation of a provision in their lease?

I today plan to offer on a house that appears to tick a lot of boxes, at a great figure which is making it more attractive. I have since found out that the title is leasehold rather than freehold. I am assuming that there are particular concerns buying a leasehold house in Hove. Conveyancing lawyers have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Hove ?

Most houses in Hove are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in Hove so you should seriously consider shopping around for a Hove conveyancing practitioner and check that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as requiring the freeholder’spermission to conduct changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the house is part of an estate. Your solicitor will appraise you on the various issues.

I am tempted by the attractive purchase price for a couple of flats in Hove both have in the region of forty five years remaining on the leases. Will this present a problem?

There are no two ways about it. A leasehold flat in Hove is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it reduces the marketability of the premises. For most buyers and mortgage companies, leases with under eighty years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Hove conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

In relation to leasehold conveyancing in Hove what are the most frequent lease problems?

There is nothing unique about leasehold conveyancing in Hove. All leases is drafted differently and drafting errors can result in certain clauses are erroneous. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts of the property
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

You will have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Accord Mortgages Ltd, Skipton Building Society, and Clydesdale all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, forcing the purchaser to pull out.

Leasehold Conveyancing in Hove - Examples of Queries Prior to Purchasing

The prefered form of lease arrangement is where the freehold title is owned by the leaseholders. In this scenario the lessees enjoy control and notwithstanding that a managing agent is often retained if it is larger than a house conversion, the managing agent is directed by the tenants. You should be aware if it is less than 80 years it will affect the value of the property. Check with your mortgage company 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 most likely have to extend the lease sooner rather than later and it is worth finding out what this would cost. For most Hovelease extensions you will be be obliged to have been the owner of the property for 24 months before you are entitled to extend the lease.