Experts for Leasehold Conveyancing in Crowborough

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Top Five Questions relating to Crowborough leasehold conveyancing

I have just started marketing my ground floor flat in Crowborough.Conveyancing solicitors are to be appointed soon but I have just had a half-yearly service charge invoice – should I leave it to the buyer to sort out?

The sensible thing to do is pay 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 management companies 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. This will smooth the conveyancing process.

Back In 2009, I bought a leasehold flat in Crowborough. Conveyancing and Alliance & Leicester mortgage went though with no issue. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1993. The conveyancing practitioner in Crowborough who acted for me is not around.Any advice?

The first thing you should do is make enquiries of the Land Registry to be sure that the individual claiming to own the freehold is in fact the new freeholder. You do not 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 regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am looking at a couple of apartments in Crowborough which have in the region of 50 years unexpired on the leases. Will this present a problem?

A lease is a right to use the premises for a period of time. As the lease shortens the value of the lease decreases and it becomes more expensive to extend the lease. This is why it is often a good idea to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease extension can be a difficult process. We recommend you get professional help from a conveyancer and surveyor with experience in this field

Can you provide any top tips for leasehold conveyancing in Crowborough with the aim of saving time on the sale process?

  • Much of the frustration in leasehold conveyancing in Crowborough can be bypassed if you instruct lawyers the minute you market your property and ask them to put together the leasehold documentation needed by the purchasers’ solicitors.
  • A minority of Crowborough leases require Licence to Assign from the landlord. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference will need to confirm that the buyers are 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.
  • If you have had any disputes with your freeholder or managing agents it is very important that these are resolved before the property is put on the market. The purchasers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You may need to swallow your pride and discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as over rather than unresolved.
  • If you hold a share in a the Management Company, you should make sure that you are holding the original share document. Arranging a duplicate share certificate is often a lengthy process and frustrates many a Crowborough home move. If a duplicate share is required, you should approach the company director and secretary or managing agents (where applicable) for this at the earliest opportunity.
  • You believe that you know the number of years left on your lease but it would be wise to double-check by asking your lawyers. A purchaser's lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is less than 75 years. In the circumstances it is important at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • In relation to leasehold conveyancing in Crowborough what are the most frequent lease defects?

    Leasehold conveyancing in Crowborough is not unique. All leases are individual and drafting errors can result in certain provisions are missing. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain parts of the premises
    • Insurance obligations
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Maintenance charge proportions which don’t add up to the correct percentage

    A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. National Westminster Bank, Norwich and Peterborough Building Society, and Clydesdale all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the buyer to pull out.

    Crowborough Leasehold Conveyancing - A selection of Queries before Purchasing

      This question is helpful as a) areas can cause problems in the building as the communal areas may start to deteriorate if repairs are not paid for b) if the leasehold owners have an issue with the managing agents you will want to have all the details Is there a share of the freehold? It is important to be aware whether window replacement or some other major work is pending that will be shared by the leasehold owners and may well materially increase the the maintenance costs or result in a specific payment.

    Other Topics

    Lease Extensions in Crowborough