Recently asked questions relating to Peacehaven leasehold conveyancing
My wife and I may need to let out our Peacehaven basement flat temporarily due to taking a sabbatical. We instructed a Peacehaven conveyancing practice in 2004 but they have since shut and we did not have the foresight to seek any advice as to whether the lease permits subletting. How do we find out?
Some leases for properties in Peacehaven do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to see references. Experience suggests 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.
I have recently realised that I have Seventy years left on my flat in Peacehaven. I now wish to get lease extension but my freeholder is can not be found. What should I do?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. You will be obliged to demonstrate that you or your lawyers have done all that could be expected to locate the freeholder. On the whole a specialist would be helpful to carry out a search and prepare a report which can be accepted by the court as proof that the landlord can not be located. It is wise to seek advice from a conveyancer both on proving the landlord’s disappearance and the application to the County Court covering Peacehaven.
My wife and I purchased a leasehold flat in Peacehaven. Conveyancing and Nationwide Building Society mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1991. The conveyancing solicitor in Peacehaven who acted for me is not around.What should I do?
The first thing you should do is contact the Land Registry to be sure that this person is indeed the new freeholder. You do not need to incur the fees of a Peacehaven conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am attracted to a couple of flats in Peacehaven which have about 50 years remaining on the lease term. Do I need to be concerned?
There are no two ways about it. A leasehold apartment in Peacehaven is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it adversely affects the salability of the property. The majority of buyers and banks, leases with less than 75 years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises 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 Peacehaven conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new 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.
Can you offer any advice when it comes to appointing a Peacehaven conveyancing firm to carry out our lease extension conveyancing?
When appointing a conveyancer for lease extension works (regardless if they are a Peacehaven conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you talk with several firms including non Peacehaven conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be helpful:
- If the firm is not ALEP accredited then why not?
Leasehold Conveyancing in Peacehaven - Sample of Queries before buying
Is the freehold owned jointly by the leaseholders?
It would be sensible to enquire if the the lease includes any adverse restrictions in the lease. By way of example it is very common in Peacehaven leases that pets are not allowed in in a block in Peacehaven. If you like the flatin Peacehaven but your cat is not allowed to live with you then you will be faced hard compromise.
What is the length of the lease?