I am in need of some leasehold conveyancing in Rottingdean. Before I set the wheels in motion I require certainty as to the remaining lease term.

If the lease is recorded at the land registry - and 99.9% 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’m about to sell my ground floor apartment in Rottingdean.Conveyancing solicitors are to be appointed soon but I have just received a half-yearly service charge demand – what should I do?

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. This will smooth the conveyancing process.

I've found a house that seems to tick a lot of boxes, at a reasonable price which is making it more attractive. I have just been informed that the title is leasehold rather than freehold. I am assuming that there are issues buying a house with a leasehold title in Rottingdean. Conveyancing solicitors have are soon to be appointed. Will they explain the issues?

The majority of houses in Rottingdean are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Rottingdean in which case you should be shopping around for a Rottingdean conveyancing practitioner and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example requiring the freeholder’sconsent to conduct alterations. You may also be required to pay a maintenance charge towards the maintenance of the estate where the property is located on an estate. Your conveyancer will report to you on the legal implications.

I am attracted to a couple of maisonettes in Rottingdean both have about forty five years left on the leases. Will this present a problem?

There are no two ways about it. A leasehold apartment in Rottingdean is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it adversely affects the salability of the premises. For most buyers and lenders, leases with less than eighty years become less and less marketable. 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 premises 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 premises 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. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending 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 any new 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 am employed by a reputable estate agent office in Rottingdean where we see a number of flat sales put at risk due to leases having less than 80 years remaining. I have received conflicting advice from local Rottingdean conveyancing firms. Could you confirm whether the owner of a flat can start the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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 Leasehold Conveyancing - Examples of Queries before Purchasing

How much is the ground rent and service charge? The best form of lease arrangement is where the freehold title is in the ownership of the leaseholders. In this arrangement the leaseholders have being in charge if their destiny and even though a managing agent is often retained if the building is larger than a house conversion, the managing agent employed by the leaseholders. It is important to be aware whether redecorating or some other significant cost is due shortly that will be shared amongst the leasehold owners and will dramatically increase the the maintenance fees or result in a specific payment.

Other Topics

Lease Extensions in Rottingdean