Having had my offer accepted I require leasehold conveyancing in Crowborough. Before I set the wheels in motion I would like to find out the unexpired term of the lease.

If the lease is recorded at the land registry - and 99.9% are in Crowborough - then the leasehold title will always include the basic details 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 today plan to offer on a house that seems to meet my requirements, at a reasonable figure which is making it all the more appealing. I have subsequently been informed that it's a leasehold as opposed to freehold. I am assuming that there are issues purchasing a leasehold house in Crowborough. Conveyancing solicitors have are about to be instructed. Will they explain the issues?

Most houses in Crowborough are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. it is apparent that you are buying in Crowborough so you should seriously consider looking for a Crowborough conveyancing solicitor and check that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example requiring the freeholder’sconsent to carry out alterations. You may also be required to pay a service charge towards the maintenance of the estate where the property is part of an estate. Your solicitor will appraise you on the various issues.

Back In 2008, I bought a leasehold flat in Crowborough. Conveyancing and Clydesdale mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1993. The conveyancing solicitor in Crowborough who acted for me is not around.What should I do?

First make enquiries of HMLR to be sure that this person is indeed the registered owner of the freehold reversion. There is no need to incur the fees of a Crowborough conveyancing solicitor to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am attracted to a two apartments in Crowborough both have about fifty years remaining on the lease term. Will this present a problem?

There are no two ways about it. A leasehold apartment in Crowborough is a wasting asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it adversely affects the salability of the property. For most buyers and mortgage companies, leases with under eighty years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Crowborough conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £225000 flat in Crowborough in 8 days. The management company has quoted £420 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Crowborough?

Crowborough conveyancing on leasehold apartments usually necessitates the purchaser’s conveyancer sending questions for the landlord to answer. Although the landlord is under no legal obligation to answer such questions the majority will be content to assist. They are entitled invoice a reasonable administration fee for responding to questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some cases it exceeds £800. The management information fee invoiced by the landlord must be sent together with a summary of entitlements and obligations in relation to administration charges, without which the invoice is technically not due. In reality you have no choice but to pay whatever is requested of you if you want to exchange contracts with the buyer.

Leasehold Conveyancing in Crowborough - Examples of Queries Prior to Purchasing

Make sure you investigate if there are any onerous restrictions in the lease. By way of example it is very common in Crowborough leases that pets are not permitted in certain buildings in Crowborough. If you like the propertyin Crowborough yet your dog can’t live with you then you have a very hard compromise. Where a Crowborough lease has less than 80 years it will impact the value of the apartment. It is worth checking with your mortgage company that they are happy with residual term of the lease. Leases with less than 80 years remaining means that you will probably require a lease extension at some point and you need to have some idea of how much this will be. Remember, in most cases you will be be obliged to have been the owner of the premises for a couple of years in order to be eligible to extend the lease. Are any of leasehold owners in arrears of their service charge liability?

Other Topics

Lease Extensions in Crowborough