Frequently asked questions relating to Seaford leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Seaford. Before diving in I would like to find out the remaining lease term.
If the lease is recorded at the land registry - and 99.9% are in Seaford - 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 let out my leasehold apartment in Seaford. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
The lease governs the relationship between the freeholder and you the leaseholder; in particular, it will say if subletting is banned, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in Seaford do not contain strict prohibition on subletting – such a provision would adversely affect the market value the property. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.
I’m about to sell my garden apartment in Seaford.Conveyancing solicitors are to be appointed soon but I have just received a yearly service charge invoice – should I leave it to the buyer to sort out?
It best that you clear the invoice 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 until 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 Seaford with the aim of saving time on the sale process?
- A significant proportion of the delay in leasehold conveyancing in Seaford can be bypassed where you get in touch lawyers the minute your agents start advertising the property and ask them to collate the leasehold information needed by the purchasers’ lawyers.
- If you have carried out any alterations to the premises would they have required Landlord’s consent? Have you, for example laid down wooden flooring? Most leases in Seaford state that internal structural alterations or installing wooden flooring necessitate a licence from the Landlord consenting to such alterations. Should you fail to have the approvals to hand you should not contact the landlord without checking with your lawyer before hand.
What makes a Seaford lease problematic?
There is nothing unique about leasehold conveyancing in Seaford. All leases are unique and drafting errors can result in certain clauses are missing. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain parts of the premises
- Insurance obligations
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Maintenance charge proportions which don’t add up to the correct percentage
You may encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. National Westminster Bank, Coventry Building Society, and Godiva Mortgages Ltd all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, forcing the buyer to withdraw.
I acquired a 1 bedroom flat in Seaford, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Seaford with a long lease are worth £193,000. The ground rent is £65 charged once a year. The lease runs out on 21st October 2078
With 57 years remaining on your lease the likely cost is going to be between £26,600 and £30,800 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. Do not use this information in tribunal or court proceedings. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.