Frequently asked questions relating to Worthing leasehold conveyancing
Jane (my partner) and I may need to rent out our Worthing basement flat temporarily due to taking a sabbatical. We instructed a Worthing conveyancing firm in 2002 but they have closed and we did not think at the time get any guidance as to whether the lease allows us to sublet. How do we find out?
The lease governs the relationship between the freeholder and you the flat owner; specifically, it will say if subletting is prohibited, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no expres ban or restriction, subletting is permitted. Most leases in Worthing do not prevent an absolute prevention of subletting – such a clause would undoubtedly devalue the property. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.
Looking forward to complete next month on a studio apartment in Worthing. Conveyancing solicitors inform me that they are sending me a report on Monday. What should I be looking out for?
Your report on title for your leasehold conveyancing in Worthing should include some of the following:
- The physical extent of the property. This will be the flat itself but might include a loft or basement if applicable.
I have just appointed agents to market my ground floor apartment in Worthing.Conveyancing has not commenced but I have just received a quarterly maintenance charge demand – what should I do?
It best that you pay 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 managing agents 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. This will smooth the conveyancing process.
I've found a house that appears to tick a lot of boxes, at a reasonable price which is making it more attractive. I have subsequently discovered that it's a leasehold rather than freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Worthing. Conveyancing advisers have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Worthing ?
The majority of houses in Worthing are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Worthing so you should seriously consider shopping around for a Worthing conveyancing practitioner and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as requiring the landlord’spermission to carry out alterations. It may be necessary to pay a contribution towards the upkeep of the communal areas where the house is part of an estate. Your lawyer will advise you fully on all the issues.
Can you provide any advice for leasehold conveyancing in Worthing from the perspective of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in Worthing can be avoided where you instruct lawyers the minute you market your property and request that they start to put together the leasehold documentation needed by the buyers lawyers.
- The majority freeholders or Management Companies in Worthing charge for providing management packs for a leasehold homes. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Worthing.
I purchased a studio flat in Worthing, conveyancing was carried out 2002. How much will my lease extension cost? Comparable flats in Worthing with a long lease are worth £240,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease terminates on 21st October 2101
You have 76 years remaining on your lease we estimate the premium for your lease extension to range between £11,400 and £13,200 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.
Other Topics