Frequently asked questions relating to Rottingdean leasehold conveyancing
I am on look out for some leasehold conveyancing in Rottingdean. Before I get started I want to be sure as to the unexpired term of the lease.
Assuming the lease is registered - and almost all are in Rottingdean - 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 Rottingdean 1st floor flat for a while due to taking a sabbatical. We used a Rottingdean conveyancing practice in 2001 but they have since shut and we did not have the foresight to get any guidance as to whether the lease permits subletting. How do we find out?
Notwithstanding that your previous Rottingdean conveyancing lawyer is not available you can review your lease to check if it allows you to sublet the apartment. The rule is that if the lease is silent, subletting is allowed. There may be a precondition that you need to obtain permission from your landlord or some other party prior to subletting. The net result is that you cannot sublet in the absence of first obtaining consent. Such consent is not allowed to be unreasonably turned down. If the lease prohibits you from letting out the property you will need to ask your landlord for their consent.
There are only Sixty One years remaining on my lease in Rottingdean. I am keen to get lease extension but my landlord is missing. What are my options?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. You will be obliged to demonstrate that you or your lawyers have made all reasonable attempts to track down the freeholder. For most situations an enquiry agent may be useful to conduct investigations and prepare a report which can be used as proof that the landlord can not be located. It is wise to seek advice from a solicitor both on proving the landlord’s absence and the application to the County Court overseeing Rottingdean.
I have just started marketing my 2 bed apartment in Rottingdean.Conveyancing has not commenced but I have just received a half-yearly service charge invoice – should I leave it to the buyer to sort out?
It best that you clear the invoice 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. Having a clear account will assist your cause and will leave you no worse off financially.
What makes a Rottingdean lease unmortgageable?
Leasehold conveyancing in Rottingdean is not unique. All leases is drafted differently and legal mistakes in the legal wording can result in certain clauses are wrong. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain elements of the property
- A duty to insure the building
- 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 can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. National Westminster Bank, Skipton Building Society, and Aldermore all have very detailed 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, obliging the buyer to withdraw.
I am the registered owner of a studio flat in Rottingdean, conveyancing was carried out 6 years ago. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Rottingdean with an extended lease are worth £216,000. The ground rent is £60 invoiced every year. The lease comes to an end on 21st October 2089
You have 68 years unexpired we estimate the premium for your lease extension to span between £9,500 and £11,000 plus professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.
Other Topics