Can you explain why leasehold purchase conveyancing in Eastney and Southsea costs more?

In short, leasehold conveyancing in Eastney and Southsea and Hampshire usually requires additional hours of investigation compared to freehold conveyancing. This includes lease investigation, corresponding with the landlord concerning serving required notices, procuring up-to-date service charge and management information, obtaining the landlord’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – no matter how many different owners have owned the lease since it was first granted.

Yesterday I discovered that there is a flying freehold element on a house I have offered on a fortnight ago in what should have been a quick, no chain conveyancing. Eastney and Southsea is where the house is located. Is there any advice you can impart?

Flying freeholds in Eastney and Southsea are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Eastney and Southsea you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Eastney and Southsea may determine 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 property.

How does the Landlord & Tenant Act 1954 affect my commercial premises in Eastney and Southsea and how can you help?

The 1954 Act provides protection to commercial leaseholders, giving them the legal entitlement to apply to court for a new lease and continue in occupation when the lease comes to an end. There are certain specified grounds that a landlord can refrain from granting a lease renewal and the rules are complicated. Fees are different for commercial conveyancing. Eastney and Southsea is one of our many areas of the UK in which the firms we work with are based

Having had my offer accepted I require leasehold conveyancing in Eastney and Southsea. Before diving in I want to be sure as to the number of years remaining on the lease.

Assuming the lease is registered - and most are in Eastney and Southsea - then the leasehold title will always include the short particulars 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 acquired a 1 bedroom flat in Eastney and Southsea, conveyancing having been completed half a dozen years ago. Can you work out an approximate cost of a lease extension? Comparable flats in Eastney and Southsea with an extended lease are worth £211,000. The ground rent is £45 invoiced every year. The lease comes to an end on 21st October 2092

With only 67 years unexpired we estimate the price of your lease extension to range between £10,500 and £12,000 as well as professional fees.

The figure above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.

The solicitors conducting our conveyancing in Eastney and Southsea has forwarded papers to review that show the land is unregistered with epitome documents. Surely all houses in Eastney and Southsea should be registered?

Whilst most properties in Eastney and Southsea are now registered with HMLR there are still some that remain unregistered. Any property in Eastney and Southsea that has been transferred since the late 1980’s will have been registered at the Land Registry under the compulsory ‘first registration’ scheme. However, if a Eastney and Southsea property has not changed hands in that time then it’s likely the old fashioned title deeds will be the only evidence of ownership.Plenty of Eastney and Southsea conveyancing solicitors will be familiar with this type of conveyancing but where uncertainty reigns the conventional advice presently is for the seller’s conveyancer to register the title first and thereafter sell - this can though naturally result in a significant delay.