Recently asked questions relating to Seaford leasehold conveyancing
Having checked my lease I have discovered that there are only 62 years unexpired on my flat in Seaford. I now wish to get lease extension but my landlord is absent. What should I do?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to find the freeholder. On the whole a specialist should be useful to try and locate and to produce an expert document to be accepted by the court as evidence that the landlord can not be located. It is wise to seek advice from a property lawyer in relation to proving the landlord’s disappearance and the application to the County Court overseeing Seaford.
I've found a house that appears to be perfect, at a reasonable price which is making it more attractive. I have just discovered that it's a leasehold rather than freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Seaford. Conveyancing solicitors have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Seaford ?
The majority of houses in Seaford are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Seaford in which case you should be shopping around for a Seaford conveyancing practitioner and check that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as obtaining the freeholder’sconsent to carry out changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the communal areas where the property is located on an estate. Your lawyer will advise you fully on all the issues.
I own a leasehold house in Seaford. Conveyancing and Alliance & Leicester mortgage went though with no issue. A letter has just been received from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Seaford who previously acted has long since retired.Any advice?
The first thing you should do is make enquiries of HMLR to make sure that this person is in fact the new freeholder. You do not need to instruct a Seaford conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am attracted to a couple of apartments in Seaford which have in the region of 50 years unexpired on the lease term. Will this present a problem?
There is no doubt about it. A leasehold flat in Seaford is a wasting asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it reduces the value of the premises. The majority of purchasers 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 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 Seaford 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 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.
Do you have any advice for leasehold conveyancing in Seaford with the intention of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Seaford can be reduced if you get in touch lawyers the minute your agents start advertising the property and ask them to put together the leasehold documentation needed by the purchasers’ conveyancers.
- The majority freeholders or Management Companies in Seaford charge for supplying management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management pack sought on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Seaford.
I am the registered owner of a garden flat in Seaford, conveyancing having been completed half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Seaford with an extended lease are worth £230,000. The ground rent is £50 charged once a year. The lease finishes on 21st October 2089
With just 68 years unexpired the likely cost is going to be between £11,400 and £13,200 as well as legals.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. 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 move forward based on this information without first getting professional advice.