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Any conveyancing solicitor can theoretically handle your leasehold conveyancing in Canvey Island, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Canvey Island leasehold conveyancing Example Support Desk Enquiries

Estate agents have just been given the go-ahead to market my garden flat in Canvey Island.Conveyancing lawyers have not yet been instructed but I have just had a quarterly service charge invoice – Do I pay up?

The sensible thing to do is discharge 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. Having a clear account will assist your cause and will leave you no worse off financially.

Last month I purchased a leasehold house in Canvey Island. 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. However, 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 ensure 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).

I work for a reputable estate agency in Canvey Island where we have experienced a few flat sales derailed due to leases having less than 80 years remaining. I have received contradictory information from local Canvey Island conveyancing firms. Please can you clarify whether the owner of a flat can commence the lease extension process for the buyer?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having 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.

An alternative approach is 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 buyer.

What advice can you give us when it comes to choosing a Canvey Island conveyancing firm to deal with our lease extension?

If you are instructing a solicitor for your lease extension (regardless if they are a Canvey Island conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We suggested that you speak with two or three firms including non Canvey Island conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be helpful:

  • If they are not ALEP accredited then what is the reason?
  • What are the charges for lease extension conveyancing?

    • Can you provide any top tips for leasehold conveyancing in Canvey Island from the perspective of speeding up the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Canvey Island can be avoided where you instruct lawyers as soon as your agents start marketing the property and request that they start to collate the leasehold information which will be required by the purchasers’ conveyancers.
    • Many landlords or managing agents in Canvey Island charge for supplying management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management pack sought on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Canvey Island.
  • Some Canvey Island leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the yearly 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 service charge figures so that they can pass this information on to the buyers or their lawyers.
  • If you have had any disputes with your landlord or managing agents it is essential that these are resolved before the property is put on the market. The buyers and their solicitors will be concerned about purchasing a flat where there is an ongoing dispute. You may need to swallow your pride and pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is clearly preferable to reveal the dispute as over as opposed to unresolved.
  • If you are supposed to have a share in the freehold, you should make sure that you have the original share document. Obtaining a re-issued share certificate is often a lengthy formality and frustrates many a Canvey Island home move. Where a reissued share is necessary, you should approach the company officers or managing agents (if relevant) for this at the earliest opportunity.

    • I invested in buying a studio flat in Canvey Island, conveyancing was carried out 8 years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Canvey Island with a long lease are worth £189,000. The ground rent is £65 yearly. The lease ceases on 21st October 2103

    With only 78 years remaining on your lease we estimate the premium for your lease extension to be between £11,400 and £13,200 plus professional fees.

    The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Canvey Island