I have 7378 less than 75 years unexpired on my lease and require a lease extension for my apartment in Shoreham By Sea. Conveyancing solicitors on the Platform panel can deal with such extensions correct?

Most leasehold conveyancing experts should be able to deal with a lease extension. if you are getting a mortgage then your lender may insist that the lease be extended before competition. Platform have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 6/5/2024 the requirements read as follows :

Just had an offer accepted on a new build apartment in Shoreham By Sea. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.

Set out below are examples of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Shoreham By Sea

Forfeiture - bankruptcy or liquidation must not apply under this provision. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.

Yesterday I discovered that there is a flying freehold element on a house I have offered on last month in what was supposed to be a simple, chain free conveyancing. Shoreham By Sea is the location of the property. What do you suggest?

Flying freeholds in Shoreham By Sea are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Shoreham By Sea you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Shoreham By Sea may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.

How does the Landlord & Tenant Act 1954 affect my business premises in Shoreham By Sea and how can your lawyers assist?

The particular law that you refer to provides a safeguard to commercial leaseholders, giving them the right to apply to court for a continuation of occupancy at the end of the lease term. There are limited grounds where a landlord can refuse a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing firms who use the act to your advantage and assist with commercial conveyancing in Shoreham By Sea

I am employed by a reputable estate agent office in Shoreham By Sea where we have witnessed a few flat sales derailed as a result of leases having less than 80 years remaining. I have received contradictory information from local Shoreham By Sea conveyancing firms. Could you clarify whether the seller of a flat can initiate the lease extension formalities for the buyer?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

Shoreham By Sea Conveyancing for Leasehold Flats - Sample of Questions you should ask before buying

For many Shoreham By Sea leaseholds the outlay for major works tend not to be built into the service charges, although there some managing agents in Shoreham By Sea obliged tenants to pay into a sinking fund created for the specific purpose of establishing a fund for major repairs or maintenance. Is anyone aware of any major works in the planning that will likely increase the maintenance fees? The best form of lease arrangement is a share of the freehold. In this scenario the tenants have control and notwithstanding that a managing agent is often retained where the building is bigger than a house conversion, the managing agent employed by the leaseholders.