Experts for Leasehold Conveyancing in Rustington

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Sample questions relating to Rustington leasehold conveyancing

I am on look out for some leasehold conveyancing in Rustington. Before diving in I would like to find out the remaining lease term.

Assuming the lease is registered - and almost all are in Rustington - 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 wish to let out my leasehold apartment in Rustington. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

A lease dictates relations between the landlord and you the flat owner; specifically, it will indicate if subletting is not allowed, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. Most leases in Rustington do not prevent an absolute prevention of subletting – such a clause would adversely affect the market value the flat. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.

I have recently realised that I have 62 years remaining on my lease in Rustington. I am keen to get lease extension but my landlord is absent. What options are available to me?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply 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 magistrate. You will be obliged to demonstrate that you have used your best endeavours to locate the landlord. In some cases an enquiry agent should be helpful to conduct investigations and prepare an expert document to be accepted by the court as evidence that the freeholder is indeed missing. It is wise to seek advice from a conveyancer in relation to investigating the landlord’s disappearance and the vesting order request to the County Court covering Rustington.

I’m about to sell my garden flat in Rustington.Conveyancing has not commenced but I have just received a quarterly maintenance charge demand – what should I do?

Your conveyancing lawyer is likely to suggest that you should clear 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 management companies 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.

Do you have any top tips for leasehold conveyancing in Rustington from the perspective of speeding up the sale process?

  • Much of the delay in leasehold conveyancing in Rustington can be bypassed where you instruct lawyers the minute you market your property and request that they start to put together the leasehold information needed by the purchasers’ representatives.
  • The majority landlords or Management Companies in Rustington charge for providing management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most common reason for delay in leasehold conveyancing in Rustington.
  • In the event that you altered the property did you need the Landlord’s consent? In particular have you laid down wooden flooring? Most leases in Rustington state that internal structural changes or installing wooden flooring require a licence issued by the Landlord approving such alterations. Should you dont have the paperwork to hand you should not contact the landlord without checking with your solicitor in the first instance.
  • Some Rustington leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference will need to confirm that the buyers are able to meet the yearly 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.
  • If you have had conflict with your freeholder or managing agents it is essential that these are resolved before the property is marketed. The purchasers and their solicitors will be warry about purchasing a property where there is a current dispute. You may need to swallow your pride and pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is better to reveal the dispute as historic as opposed to ongoing.

    • I bought a leasehold flat in Rustington, conveyancing formalities finalised 10 years ago. How much will my lease extension cost? Similar properties in Rustington with an extended lease are worth £184,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease comes to an end on 21st October 2095

    With just 70 years left to run the likely cost is going to range between £11,400 and £13,200 plus professional fees.

    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 without more comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Rustington