Sample questions relating to Pevensey leasehold conveyancing
I have recently realised that I have 68 years remaining on my lease in Pevensey. I now wish to get lease extension but my freeholder is absent. What should I do?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. However, you will be required to prove that you or your lawyers have made all reasonable attempts to find the freeholder. For most situations a specialist may be helpful to try and locate and prepare an expert document which can be used as proof that the freeholder can not be located. It is advisable to get professional help from a property lawyer both on devolving into the landlord’s disappearance and the application to the County Court overseeing Pevensey.
Estate agents have just been given the go-ahead to market my ground floor flat in Pevensey.Conveyancing is yet to be initiated but I have just received a quarterly maintenance charge invoice – what should I do?
Your conveyancing lawyer is likely to suggest that you should 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 until 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.
Back In 2009, I bought a leasehold flat in Pevensey. Conveyancing and Godiva Mortgages Ltd mortgage organised. A letter has just been received from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1998. The conveyancing practitioner in Pevensey who previously acted has long since retired.Any advice?
The first thing you should do is make enquiries of the Land Registry to make sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Pevensey conveyancing solicitor to do this as it can be done on-line for £3. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am looking at a couple of maisonettes in Pevensey both have approximately forty five years left on the leases. Will this present a problem?
There are plenty of short leases in Pevensey. The lease is a legal document that entitles you to use the premises for a period of time. As a lease gets shorter the value of the lease decreases and results in it becoming more expensive to extend the lease. This is why it is advisable to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We recommend you get professional assistance from a solicitor and surveyor with experience in this field
In relation to leasehold conveyancing in Pevensey what are the most frequent lease defects?
There is nothing unique about leasehold conveyancing in Pevensey. Most leases are individual and drafting errors can sometimes mean that certain sections are wrong. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain parts of the premises
- A duty to insure the building
- 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 will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, The Mortgage Works, and Britannia all have very detailed conveyancing instructions 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, obliging the buyer to pull out.
Pevensey Leasehold Conveyancing - A selection of Questions you should consider Prior to Purchasing
Who are the managing agents?
How many of the leaseholders are in arrears for their service charge payments?
How is the lease structured?