Portslade leasehold conveyancing: Q and A’s
I am on look out for some leasehold conveyancing in Portslade. Before diving in I want to be sure as to the unexpired term of the lease.
Assuming the lease is registered - and most are in Portslade - 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.
Frank (my husband) and I may need to sub-let our Portslade garden flat temporarily due to a career opportunity. We instructed a Portslade conveyancing firm in 2001 but they have since shut and we did not think at the time seek any advice as to whether the lease permits subletting. How do we find out?
Even though your previous Portslade conveyancing lawyer is no longer available you can check your lease to check if it allows you to sublet the apartment. The rule is that if the lease is non-specific, subletting is permitted. There may be a precondition that you need to seek consent via your landlord or other appropriate person prior to subletting. This means you not allowed to sublet in the absence of first obtaining consent. The consent should not be unreasonably refused ore delayed. If the lease prohibits you from letting out the property you should ask your landlord if they are willing to waive this restriction.
I am hoping to exchange soon on a leasehold property in Portslade. Conveyancing lawyers assured me that they will have a report out to me within the next couple of days. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Portslade should include some of the following:
- Defining your rights in relation to the communal areas in the building.E.G., does the lease grant a right of way over a path or staircase?
- An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
- You should have a good understanding of the insurance provisions
- Repair and maintenance of the flat
- The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
- The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
- Responsibility for repairing the window frames
I've recently bought a leasehold house in Portslade. Do I have any liability for service charges relating to a period prior to completion of my purchase?
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 ensure 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 are your top tips when it comes to choosing a Portslade conveyancing firm to deal with our lease extension?
If you are instructing a property lawyer for your lease extension (regardless if they are a Portslade conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you speak with several firms including non Portslade conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be helpful:
- How experienced is the firm with lease extension legislation?
- What are the charges for lease extension conveyancing?
I bought a 1st floor flat in Portslade, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Portslade with a long lease are worth £232,000. The average or mid-range amount of ground rent is £60 levied per year. The lease comes to an end on 21st October 2085
You have 59 years remaining on your lease the likely cost is going to range between £21,900 and £25,200 plus costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.