Leasehold Conveyancing in Bexhill On Sea - Get a Quote from the leasehold experts approved by your lender

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When it comes to leasehold conveyancing in Bexhill On Sea, you will need to appoint a conveyancing practitioner with leasehold experience. Whether your lender is to be Santander, Yorkshire Building Society or Bradford & Bingley be sure to choose a lawyer on their approved list. Feel free to use our search tool

Recently asked questions relating to Bexhill On Sea leasehold conveyancing

I am hoping to complete next month on a garden flat in Bexhill On Sea. Conveyancing solicitors inform me that they are sending me a report next week. What should I be looking out for?

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

  • The unexpired lease term You should be advised as what happens when the lease ends, and informed of the importance of not letting the lease term falling below eighty years
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
  • The total extent of the demise. This will be the flat itself but may include a loft or basement if applicable.
  • Does the lease require carpeting throughout thus preventing wood flooring?
  • You should have a good understanding of the insurance provisions
  • Changes to the flat (alterations and additions)
  • Responsibility for repairing the window frames For details of the information to be included in your report on your leasehold property in Bexhill On Sea please enquire of your lawyer in ahead of your conveyancing in Bexhill On Sea

    • I own a leasehold flat in Bexhill On Sea. Conveyancing and TSB mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in Bexhill On Sea who acted for me is not around.Any advice?

    First contact the Land Registry to make sure that the individual purporting to own the freehold is in fact the new freeholder. It is not necessary to instruct a Bexhill On Sea conveyancing lawyer to do this as you can do this on the Land Registry website for £3. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

    I am tempted by the attractive purchase price for a two flats in Bexhill On Sea which have approximately 50 years remaining on the leases. Do I need to be concerned?

    There are plenty of short leases in Bexhill On Sea. The lease is a right to use the property for a prescribed time frame. As a lease gets shorter the value of the lease deteriorate and results in it becoming more expensive to extend the lease. For this reason it is often a good idea to extend the lease term. More often than not it is difficult to sell a property with a short lease as mortgage companies may be unwilling to lend money on such properties. Lease enfranchisement can be a difficult process. We recommend you get professional help from a solicitor and surveyor with experience in this field

    I've recently bought a leasehold property in Bexhill On Sea. Am I liable to pay service charges relating to a period prior to my ownership?

    In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

    If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

    What advice can you give us when it comes to appointing a Bexhill On Sea conveyancing practice to carry out our lease extension conveyancing?

    When appointing a conveyancer for lease extension works (regardless if they are a Bexhill On Sea conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with several firms including non Bexhill On Sea conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be useful:

    • How familiar is the firm with lease extension legislation?
  • What are the costs for lease extension work?

    • I bought a studio flat in Bexhill On Sea, conveyancing having been completed 4 years ago. Can you work out an approximate cost of a lease extension? Equivalent flats in Bexhill On Sea with an extended lease are worth £220,000. The ground rent is £65 invoiced every year. The lease terminates on 21st October 2085

    With 62 years left to run we estimate the premium for your lease extension to be between £20,900 and £24,200 as well as professional fees.

    The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.

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    Lease Extensions in Bexhill On Sea