Quality lawyers for Leasehold Conveyancing in Rottingdean

When it comes to leasehold conveyancing in Rottingdean, you will need to instruct a conveyancing practitioner with leasehold experience. Whether your lender is to be Lloyds, Yorkshire Building Society or Bradford & Bingley be sure to find a lawyer on their approved list. Feel free to use our search tool

Sample questions relating to Rottingdean leasehold conveyancing

I am on look out for some leasehold conveyancing in Rottingdean. Before diving in I require certainty as to the unexpired term of the lease.

If the lease is recorded at the land registry - 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.

I am intending to sublet my leasehold apartment in Rottingdean. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

Notwithstanding that your previous Rottingdean conveyancing solicitor is no longer around you can check your lease to see if it allows you to sublet the apartment. The accepted inference is that if the deeds are non-specific, subletting is permitted. There may be a precondition that you need to obtain permission from your landlord or other appropriate person before subletting. The net result is you not allowed to sublet without first obtaining consent. The consent should not be unreasonably refused ore delayed. If your lease does not allow you to sublet you will need to ask your landlord for their consent.

I have just started marketing my garden flat in Rottingdean.Conveyancing is yet to be initiated but I have just had a half-yearly maintenance charge demand – should I leave it to the buyer to sort out?

It best that you 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 unless 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.

I am looking at a two maisonettes in Rottingdean both have approximately forty five years left on the leases. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold apartment in Rottingdean is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it adversely affects the salability of the property. The majority of buyers and banks, leases with less than 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Rottingdean conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

I work for a busy estate agent office in Rottingdean where we have experienced a number of leasehold sales derailed as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Rottingdean conveyancing solicitors. Could you shed some light as to whether the seller of a flat can initiate the lease extension process for the buyer?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.

An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

Rottingdean Conveyancing for Leasehold Flats - Examples of Questions you should consider Prior to Purchasing

    The majority of Rottingdean leasehold flats will incur a service charge for maintenance of the building levied on behalf of the management company. Should you purchase the apartment you will have to pay this charge, usually in instalments accross the year. This may be anything from a few hundred pounds to thousands of pounds for bigger purpose-built buildings. In all likelihood there will be a ground rent to be met yearly, ordinarily this is not a exorbitant amount, say approximately £25-£75 but you need to enquire it because sometimes it can be many hundreds of pounds. Can you inform me if there are any major works in the planning that will increase the service charges? How many of the leaseholders are in arrears for their maintenance charge payments?

Other Topics

Lease Extensions in Rottingdean