Recently asked questions relating to Newhaven leasehold conveyancing
I am on look out for some leasehold conveyancing in Newhaven. Before diving in I want to be sure as to the number of years remaining on the lease.
If the lease is registered - and almost all are in Newhaven - 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.
My husband and I may need to sub-let our Newhaven garden flat temporarily due to taking a sabbatical. We used a Newhaven conveyancing practice in 2004 but they have since shut and we did not have the foresight to seek any guidance as to whether the lease allows us to sublet. How do we find out?
A lease governs relations between the landlord and you the leaseholder; in particular, it will say if subletting is not allowed, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. Most leases in Newhaven do not prevent an absolute prevention of subletting – such a provision would undoubtedly devalue the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly sending a copy of the sublease.
My wife and I purchased a leasehold house in Newhaven. Conveyancing and The Royal Bank of Scotland mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1997. The conveyancing practitioner in Newhaven who acted for me is not around.What should I do?
The first thing you should do is make enquiries of the Land Registry to be sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a Newhaven conveyancing practitioner to do this as you can do this on the Land Registry website for £3. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Last month I purchased a leasehold house in Newhaven. Do I have any liability for service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element 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).
Do you have any advice for leasehold conveyancing in Newhaven from the point of view of expediting the sale process?
- Much of the delay in leasehold conveyancing in Newhaven can be avoided where you instruct lawyers the minute you market your property and ask them to put together the leasehold documentation which will be required by the purchasers’ representatives.
- Many landlords or managing agents in Newhaven levy fees for supplying management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management pack sought on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most common reason for delay in leasehold conveyancing in Newhaven.
- If you have had any disputes with your freeholder or managing agents it is essential that these are resolved prior to the flat being marketed. The buyers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You may have to bite the bullet and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is better to present the dispute as over rather than unresolved.
- If you are supposed to have a share in the Management Company, you should make sure that you have the original share certificate. Arranging a new share certificate is often a time consuming formality and frustrates many a Newhaven conveyancing deal. Where a new share certificate is necessary, you should approach the company director and secretary or managing agents (if relevant) for this at the earliest opportunity.
- You may think that you are aware of the number of years left on your lease but you should verify this via your lawyers. A buyer’s conveyancer will not be happy to advise their client to where the lease term is under 75 years. It is therefore essential at an early stage that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.
Leasehold Conveyancing in Newhaven - Examples of Questions you should consider before Purchasing
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Its a good idea to discover as much as possible about the company managing the building as they will affect your use and enjoyment of the property. Being a leasehold owner you will be at the mercy of the managing agents both financially and when it comes to practical issues such as the tidiness of the common parts. You should not be shy to ask prospective neighbours if they are happy with their service. In conclusion, investigate as to the dates that you are obliged pay the service charge to the relevant party and specifically how they are spending that money.
How long is the Lease?