Questions and Answers: Peacehaven leasehold conveyancing
Harry (my fiance) and I may need to sub-let our Peacehaven ground floor flat temporarily due to a new job. We used a Peacehaven conveyancing firm in 2002 but they have closed and we did not think at the time get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
Notwithstanding that your last Peacehaven conveyancing lawyer is not around you can check your lease to see if you are permitted to let out the premises. The rule is that if the lease is silent, subletting is permitted. Quite often there is a prerequisite that you need to seek permission via your landlord or other appropriate person in advance of subletting. The net result is that you cannot sublet without first obtaining permission. Such consent must not not be unreasonably withheld. If your lease prohibits you from subletting the property you will need to ask your landlord for their consent.
Estate agents have just been given the go-ahead to market my 2 bed flat in Peacehaven.Conveyancing has not commenced but I have just received a quarterly service charge demand – what should I do?
It best that you discharge the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I own a leasehold flat in Peacehaven. Conveyancing and National Westminster Bank mortgage went though with no issue. A letter has just been received from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1998. The conveyancing solicitor in Peacehaven who acted for me is not around.Any advice?
First make enquiries of the Land Registry to be sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Peacehaven conveyancing lawyer to do this as it can be done on-line for a few pound. Rest assured 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.
Can you provide any top tips for leasehold conveyancing in Peacehaven with the intention of expediting the sale process?
- Much of the delay in leasehold conveyancing in Peacehaven can be reduced if you appoint lawyers the minute your agents start advertising the property and ask them to put together the leasehold information needed by the buyers solicitors.
- Many freeholders or Management Companies in Peacehaven levy fees for providing management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most common cause of delay in leasehold conveyancing in Peacehaven.
- If you have carried out any alterations to the residence would they have required Landlord’s approval? In particular have you laid down wooden flooring? Peacehaven leases often stipulate that internal structural changes or addition of wooden flooring necessitate a licence from the Landlord consenting to such alterations. Where you dont have the consents in place do not communicate with the landlord without contacting your conveyancer first.
- If you have had conflict with your freeholder or managing agents it is essential that these are settled before the property is put on the market. The purchasers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is better to reveal the dispute as over rather than ongoing.
- You may think that you are aware of the number of years remaining on your lease but it would be wise to double-check by asking your solicitors. A buyer’s conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is under 75 years. It is therefore important at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.
Are there common defects that you encounter in leases for Peacehaven properties?
Leasehold conveyancing in Peacehaven is not unique. All leases are unique and drafting errors can result in certain provisions are missing. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair to or maintain parts of the premises
- Insurance obligations
- 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
A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , Coventry Building Society, and Platform Home Loans Ltd all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, forcing the purchaser to withdraw.
I own a 2 bed flat in Peacehaven, conveyancing was carried out half a dozen years ago. How much will my lease extension cost? Equivalent properties in Peacehaven with over 90 years remaining are worth £241,000. The average or mid-range amount of ground rent is £60 charged once a year. The lease ceases on 21st October 2104
With just 78 years remaining on your lease the likely cost is going to span between £9,500 and £11,000 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more detailed due diligence. You should not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.