Top Five Questions relating to Rottingdean leasehold conveyancing
I am in need of some leasehold conveyancing in Rottingdean. Before diving in I would like to find out the number of years remaining on the lease.
Assuming the lease is registered - and 99.9% are in Rottingdean - then the leasehold title will always include the short particulars 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 rent 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 their consent?
Even though your last Rottingdean conveyancing lawyer is no longer around you can review your lease to see if you are permitted to let out the apartment. The rule is that if the deeds are silent, subletting is permitted. Quite often there is a prerequisite that you must seek consent from your landlord or other appropriate person before subletting. The net result is that you cannot sublet without prior consent. The consent must not not be unreasonably refused ore delayed. If the lease does not allow you to sublet you should ask your landlord if they are willing to waive this restriction.
I've found a house that appears to tick a lot of boxes, at a great price which is making it more attractive. I have since discovered that it's a leasehold as opposed to freehold. I would have thought that there are issues buying a leasehold house in Rottingdean. Conveyancing lawyers have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Rottingdean ?
The majority of houses in Rottingdean are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. We note that you are purchasing in Rottingdean in which case you should be looking for a Rottingdean conveyancing solicitor and be sure that they are used to advising on leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as obtaining the freeholder’spermission to carry out alterations. It may be necessary to pay a contribution towards the maintenance of the communal areas where the house is located on an estate. Your lawyer should report to you on the legal implications.
I am looking at a two maisonettes in Rottingdean both have approximately 50 years left on the leases. Should I regard a short lease as a deal breaker?
A lease is a right to use the property for a prescribed time frame. As a lease shortens the saleability of the lease decreases and it becomes more costly to extend the lease. This is why it is often a good idea to extend the lease term. More often than not it is difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this field
All being well we will complete the sale of our £400000 garden flat in Rottingdean on Thursday in a week. The landlords agents has quoted £300 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Rottingdean?
Rottingdean conveyancing on leasehold apartments usually involves the buyer’s lawyer sending enquiries for the landlord to address. Although the landlord is not legally bound to address such questions the majority will be willing to assist. They are at liberty levy a reasonable administration fee for answering questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is over three hundred pounds, in some situations it is in excess of £800. The administration charge required by the landlord must be accompanied by a synopsis of entitlements and obligations in relation to administration charges, without which the charge is technically not due. In reality one has little option but to pay whatever is requested of you if you want to sell the property.
I inherited a 2 bed flat in Rottingdean, conveyancing having been completed half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Rottingdean with an extended lease are worth £167,000. The ground rent is £50 invoiced annually. The lease terminates on 21st October 2076
With only 51 years left to run we estimate the price of your lease extension to be between £34,200 and £39,600 as well as legals.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive due diligence. You should not use this information in tribunal or court proceedings. There may be other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.
Other Topics