I am hoping to complete next month on a basement flat in Benfleet. Conveyancing solicitors inform me that they will have a report out to me next week. What should I be looking out for?

The report on title for your leasehold conveyancing in Benfleet should include some of the following:

• You should receive a copy of the lease

Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord

Whether the lease restricts you from letting out the property, or having a home office for business

An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has

I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required

The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building

Responsibility for repairing the window frames For details of the information to be contained in your report on your leasehold property in Benfleet please ask your conveyancer in advance of your conveyancing in Benfleet

I've found a house that seems to meet my requirements, at a reasonable figure which is making it all the more appealing. I have just discovered that it's a leasehold rather than freehold. I am assuming that there are particular concerns buying a leasehold house in Benfleet. Conveyancing solicitors have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Benfleet ?

Most houses in Benfleet are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are purchasing in Benfleet in which case you should be looking for a Benfleet conveyancing practitioner and be sure that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as requiring the freeholder’spermission to conduct changes to the property. You may also be required to pay a service charge towards the upkeep of the communal areas where the house is part of an estate. Your lawyer will appraise you on the various issues.

I am attracted to a two maisonettes in Benfleet which have approximately fifty years remaining on the lease term. should I be concerned?

A lease is a right to use the premises for a prescribed time frame. As a lease gets shorter the value of the lease reduces and results in it becoming more costly to extend the lease. This is why it is generally wise to extend the lease term. It is often difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We recommend you seek professional help from a solicitor and surveyor with experience in this area

Do you have any top tips for leasehold conveyancing in Benfleet with the intention of speeding up the sale process?

• A significant proportion of the delay in leasehold conveyancing in Benfleet can be reduced if you get in touch lawyers as soon as your agents start marketing the property and ask them to put together the leasehold documentation needed by the purchasers’ lawyers.
• The majority freeholders or Management Companies in Benfleet levy fees for supplying management packs for a leasehold homes. You or your lawyers should enquire as to the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most common reason for delay in leasehold conveyancing in Benfleet.

If you have carried out any alterations to the property would they have required Landlord’s approval? Have you, for example laid down wooden flooring? Benfleet leases often stipulate that internal structural changes or addition of wooden flooring require a licence from the Landlord consenting to such alterations. If you dont have the approvals to hand do not contact the landlord without contacting your conveyancer in advance.

A minority of Benfleet leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference should make it clear that the buyer is financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.

You believe that you know the number of years remaining on your lease but it would be advisable verify this by asking your lawyers. A purchaser's conveyancer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is less than 80 years. It is therefore essential at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

All being well we will complete the sale of our £200000 maisonette in Benfleet next week. The freeholder has quoted £324 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Benfleet?

Benfleet conveyancing on leasehold flats ordinarily involves administration charges raised by management companies :

• Answering pre-contract enquiries
• Where consent is required before sale in Benfleet
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Benfleet leasehold property is £350. For Benfleet conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to provide the information.

Leasehold Conveyancing in Benfleet - A selection of Queries before buying

The prefered form of lease structure is a share of the freehold. In this scenario the lessees benefit from control and although a managing agent is frequently employed where it is bigger than a house conversion, the managing agent retained by the leaseholders. Are any of leasehold owners in arrears of their service charge payments? Is anyone aware of any major works in the near future that could increase the maintenance fees?

Other Topics

Lease Extensions in Benfleet