Recently asked questions relating to Lewes leasehold conveyancing
I am intending to sublet my leasehold apartment in Lewes. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Some leases for properties in Lewes do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably withhold but, in such cases, they would need to see references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
Expecting to exchange soon on a garden flat in Lewes. Conveyancing solicitors assured me that they will have a report out to me on Monday. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Lewes should include some of the following:
- You should receive a copy of the lease
I work for a busy estate agency in Lewes where we have experienced a number of flat sales put at risk as a result of short leases. I have been given conflicting advice from local Lewes conveyancing solicitors. Please can you shed some light as to whether the vendor of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?
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 can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder 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.
Can you offer any advice when it comes to finding a Lewes conveyancing firm to deal with our lease extension?
If you are instructing a property lawyer for lease extension works (regardless if they are a Lewes conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We advise that you talk with several firms including non Lewes conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be useful:
- What volume of lease extensions has the firm completed in Lewes in the last twenty four months?
What makes a Lewes lease unacceptable for security purposes?
Leasehold conveyancing in Lewes is not unique. Most leases are individual and legal mistakes in the legal wording can sometimes mean that certain sections 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.
- Service charge per centages that don't add up correctly leaving a shortfall
You will encounter 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. Santander, Norwich and Peterborough Building Society, and Bank of Ireland all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, forcing the buyer to withdraw.
I invested in buying a 1st floor flat in Lewes, conveyancing formalities finalised in 2012. Can you work out an approximate cost of a lease extension? Corresponding properties in Lewes with over 90 years remaining are worth £267,000. The average or mid-range amount of ground rent is £60 levied per year. The lease ends on 21st October 2074
With just 53 years unexpired we estimate the premium for your lease extension to span between £32,300 and £37,400 plus professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns 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 before seeking the advice of a professional.