Sample questions relating to Hove leasehold conveyancing
I would like to sublet my leasehold apartment in Hove. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?
Your lease governs the relationship between the freeholder and you the leaseholder; in particular, it will indicate if subletting is not allowed, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no expres ban or restriction, subletting is allowed. The majority of leases in Hove do not prevent strict prohibition on subletting – such a clause would adversely affect the market value the property. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.
There are only 62 years remaining on my lease in Hove. I am keen to extend my lease but my freeholder is absent. What should I do?
If 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 mean that your lease can be extended by the Court. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to find the lessor. In some cases an enquiry agent should be useful to conduct investigations and prepare a report to be used as evidence that the landlord can not be located. It is advisable to get professional help from a solicitor in relation to proving the landlord’s absence and the application to the County Court covering Hove.
Looking forward to complete next month on a basement flat in Hove. Conveyancing lawyers assured me that they report fully next week. 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:
- You should be sent a copy of the lease
I work for a reputable estate agency in Hove where we have experienced a number of leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Hove conveyancing firms. Please can you clarify whether the vendor of a flat can instigate the lease extension formalities for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years for a lease extension. 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 extend the lease informally by agreement with the landlord 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 purchaser.
Do you have any top tips for leasehold conveyancing in Hove with the intention of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Hove can be reduced if you instruct lawyers as soon as your agents start marketing the property and ask them to put together the leasehold information which will be required by the purchasers’ conveyancers.
- Many freeholders or managing agents in Hove charge for supplying management packs for a leasehold homes. You or your lawyers should discover the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Hove.
I acquired a split level flat in Hove, conveyancing was carried out in 2003. Can you work out an approximate cost of a lease extension? Comparable properties in Hove with over 90 years remaining are worth £263,000. The ground rent is £50 invoiced annually. The lease ends on 21st October 2092
You have 71 years left to run we estimate the premium for your lease extension to range between £10,500 and £12,000 as well as costs.
The figure above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There may be additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.