Peacehaven leasehold conveyancing: Q and A’s
I wish to sublet my leasehold apartment in Peacehaven. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?
Even though your previous Peacehaven conveyancing lawyer is no longer around you can review your lease to see if you are permitted to let out the apartment. The accepted inference is that if the lease is non-specific, subletting is permitted. Quite often there is a prerequisite that you are obliged to seek permission from your landlord or other appropriate person before subletting. This means you not allowed to sublet without first obtaining permission. Such consent must not not be unreasonably turned down. If the lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.
Looking forward to complete next month on a studio apartment in Peacehaven. Conveyancing lawyers have said that they are sending me a report on Monday. What should I be looking out for?
The report on title for your leasehold conveyancing in Peacehaven should include some of the following:
- You should be sent a copy of the lease
My wife and I purchased a leasehold flat in Peacehaven. Conveyancing and Barnsley Building Society mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1996. The conveyancing practitioner in Peacehaven who acted for me is not around.Do I pay?
The first thing you should do is make enquiries of HMLR to make sure that this person is in fact the new freeholder. It is not necessary to instruct a Peacehaven conveyancing practitioner to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Can you offer any advice when it comes to appointing a Peacehaven conveyancing firm to deal with our lease extension?
When appointing a property lawyer for your lease extension (regardless if they are a Peacehaven conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with several firms including non Peacehaven conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be helpful:
- If the firm is not ALEP accredited then why not?
What makes a Peacehaven lease defective?
There is nothing unique about leasehold conveyancing in Peacehaven. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain clauses are erroneous. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain elements of the property
- Insurance obligations
- 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
A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Lloyds TSB Bank, Norwich and Peterborough Building Society, and Alliance & Leicester all have very detailed 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, obliging the buyer to withdraw.
I am the registered owner of a leasehold flat in Peacehaven, conveyancing having been completed half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Peacehaven with a long lease are worth £223,000. The ground rent is £50 per annum. The lease runs out on 21st October 2088
With just 67 years left to run we estimate the price of your lease extension to be between £13,300 and £15,400 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.