Guaranteed fixed fees for Leasehold Conveyancing in Crowborough

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Any conveyancing practice can theoretically deal with your leasehold conveyancing in Crowborough, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Common questions relating to Crowborough leasehold conveyancing

Due to complete next month on a leasehold property in Crowborough. Conveyancing solicitors inform me that they will have a report out to me tomorrow. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Crowborough should include some of the following:

  • You should be sent a copy of the lease
  • The total extent of the property. This will be the property itself but could also incorporate a roof space or cellar if applicable.
  • You must be told what counts as a Nuisance in the lease
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • 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 a comprehensive list of information to be contained in your report on your leasehold property in Crowborough please enquire of your solicitor in ahead of your conveyancing in Crowborough

    • I am looking at a two maisonettes in Crowborough both have approximately 50 years unexpired on the leases. Will this present a problem?

    A lease is a right to use the property for a period of time. As a lease gets shorter the value of the lease deteriorate and it becomes more costly to extend the lease. For this reason it is advisable to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this field

    Do you have any advice for leasehold conveyancing in Crowborough from the perspective of expediting the sale process?

    • Much of the frustration in leasehold conveyancing in Crowborough can be avoided if you appoint lawyers the minute your agents start marketing the property and request that they start to put together the leasehold documentation needed by the buyers solicitors.
    • The majority landlords or managing agents in Crowborough charge for supplying management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management pack sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Crowborough.
  • A minority of Crowborough leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. Any 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 lawyers.
  • If you have the benefit of shareholding in the freehold, you should make sure that you have the original share document. Arranging a new share certificate can be a time consuming formality and slows down many a Crowborough home move. If a new share is required, do contact the company officers or managing agents (where relevant) for this as soon as possible.
  • You may think that you are aware of the number of years left on your lease but you should verify this by asking your conveyancers. A buyer’s conveyancer will be unlikely to recommend their client to where the remaining number of years is under 80 years. In the circumstances it is essential at an early stage that you identify 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.

    • Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £400000 garden flat in Crowborough in just under a week. The management company has quoted £336 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Crowborough?

    Crowborough conveyancing on leasehold maisonettes normally involves the buyer’s lawyer sending enquiries for the landlord to answer. Although the landlord is not legally bound to answer such questions the majority will be willing to do so. They are at liberty invoice a reasonable administration fee for answering questions or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is £350, in some transactions it is above £800. The management information fee required by the landlord must be accompanied by a summary of entitlements and obligations in respect of administration charges, without which the charge is technically not due. Reality however dictates that you have no option but to pay whatever is requested of you if you want to sell the property.

    What are the common problems that you witness in leases for Crowborough properties?

    Leasehold conveyancing in Crowborough is not unique. All leases are unique and legal mistakes in the legal wording can result in certain clauses are not included. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain parts of the property
    • 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 will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, Leeds Building Society, and Barclays Direct all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, forcing the buyer to withdraw.

    I purchased a split level flat in Crowborough, conveyancing formalities finalised in 2011. Can you work out an approximate cost of a lease extension? Corresponding properties in Crowborough with a long lease are worth £214,000. The average or mid-range amount of ground rent is £65 yearly. The lease finishes on 21st October 2082

    You have 62 years unexpired we estimate the price of your lease extension to range between £20,000 and £23,000 as well as professional fees.

    The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Crowborough