Rottingdean leasehold conveyancing: Q and A’s
I would like to let out my leasehold flat in Rottingdean. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?
Some leases for properties in Rottingdean do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably refuse but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
I have recently realised that I have 72 years unexpired on my flat in Rottingdean. I now want to extend my lease but my landlord is can not be found. What options are available to me?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application 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. You will be obliged to prove that you have done all that could be expected to track down the landlord. On the whole an enquiry agent would be useful to conduct investigations and prepare an expert document to be used as proof that the landlord is indeed missing. It is wise to seek advice from a property lawyer in relation to devolving into the landlord’s absence and the application to the County Court overseeing Rottingdean.
I am hoping to put an offer on a small detached house that appears to be perfect, at a great price which is making it more attractive. I have just been informed that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Rottingdean. Conveyancing lawyers have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in Rottingdean ?
The majority of houses in Rottingdean are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Rottingdean so you should seriously consider shopping around for a Rottingdean conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as obtaining the freeholder’spermission to carry out changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the estate where the house is part of an estate. Your lawyer should report to you on the legal implications.
Do you have any advice for leasehold conveyancing in Rottingdean from the point of view of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Rottingdean can be avoided where you instruct lawyers the minute you market your property and ask them to put together the leasehold information which will be required by the buyers lawyers.
- A minority of Rottingdean leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their solicitors.
Are there common deficiencies that you witness in leases for Rottingdean properties?
There is nothing unique about leasehold conveyancing in Rottingdean. All leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain sections are wrong. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain parts 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. Lloyds TSB Bank, Barnsley Building Society, and Godiva Mortgages Ltd all have express requirements 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 purchaser to pull out.
I invested in buying a basement flat in Rottingdean, conveyancing was carried out in 2002. 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? Corresponding flats in Rottingdean with over 90 years remaining are worth £174,000. The average or mid-range amount of ground rent is £55 yearly. The lease ends on 21st October 2096
With just 75 years remaining on your lease we estimate the premium for your lease extension to range between £12,400 and £14,200 plus professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.