I am on look out for some leasehold conveyancing in Peacehaven. Before I set the wheels in motion I require certainty as to the remaining lease term.

If the lease is recorded at the land registry - and most are in Peacehaven - then the leasehold title will always include the basic details 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.

I would like to let out my leasehold flat in Peacehaven. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?

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 refuse 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 permission.

I today plan to offer on a house that appears to be perfect, at a great figure which is making it all the more appealing. I have since discovered that the title is leasehold as opposed to freehold. I would have thought that there are issues purchasing a leasehold house in Peacehaven. Conveyancing advisers have are soon to be appointed. Will they explain the issues?

Most houses in Peacehaven are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. It is clear that you are purchasing in Peacehaven in which case you should be shopping around for a Peacehaven conveyancing solicitor and check that they are used to advising on leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as obtaining the landlord’sconsent to conduct alterations. It may be necessary to pay a service charge towards the maintenance of the estate where the house is part of an estate. Your solicitor should report to you on the legal implications.

I am employed by a busy estate agent office in Peacehaven where we see a number of leasehold sales jeopardised due to leases having less than 80 years remaining. I have received contradictory information from local Peacehaven conveyancing solicitors. Please can you shed some light as to whether the vendor of a flat can initiate the lease extension formalities for the buyer?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.

An alternative approach is 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 buyer.

What makes a Peacehaven lease unmortgageable?

Leasehold conveyancing in Peacehaven is not unique. Most leases are individual and legal mistakes in the legal wording can result in certain provisions are erroneous. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain elements of the premises
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Skipton Building Society, and Nottingham Building Society all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the buyer to withdraw.

I purchased a 1st floor flat in Peacehaven, conveyancing having been completed half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Peacehaven with an extended lease are worth £180,000. The average or mid-range amount of ground rent is £60 charged once a year. The lease expires on 21st October 2106

With 80 years unexpired the likely cost is going to range between £8,600 and £9,800 as well as costs.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.