Frequently asked questions relating to Pevensey leasehold conveyancing
There are only Fifty years unexpired on my flat in Pevensey. I now want to extend my lease but my landlord is can not be found. What are my options?
On the basis that you meet the appropriate requirements, 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 lengthened by the Court. However, you will be required to prove that you have used your best endeavours to track down the landlord. For most situations a specialist may be helpful to try and locate and to produce an expert document which can be accepted by the court as evidence that the freeholder is indeed missing. It is advisable to get professional help from a property lawyer both on proving the landlord’s disappearance and the vesting order request to the County Court covering Pevensey.
Due to sign contracts shortly on a studio apartment in Pevensey. Conveyancing solicitors have said that they report fully within the next couple of days. What should I be looking out for?
The report on title for your leasehold conveyancing in Pevensey should include some of the following:
- How long the lease is You should be advised as what happens when the lease ends, and aware of the importance of the 80 year mark
I've recently bought a leasehold flat in Pevensey. Am I liable to pay service charges for periods before my ownership?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
What advice can you give us when it comes to choosing a Pevensey conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a property lawyer for your lease extension (regardless if they are a Pevensey conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with two or three firms including non Pevensey conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be of use:
- If they are not ALEP accredited then why not?
What makes a Pevensey lease problematic?
There is nothing unique about leasehold conveyancing in Pevensey. All leases are individual and legal mistakes in the legal wording can result in certain clauses 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 will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, Leeds Building Society, and Bank of Ireland 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 defective they may refuse to grant the mortgage, obliging the buyer to pull out.
I bought a basement flat in Pevensey, conveyancing formalities finalised in 2004. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable flats in Pevensey with over 90 years remaining are worth £252,000. The ground rent is £50 invoiced annually. The lease runs out on 21st October 2103
With only 79 years left to run the likely cost is going to span between £8,600 and £9,800 plus legals.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide the actual costs without more detailed investigations. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.
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