Looking forward to exchange soon on a garden flat in East Dean. Conveyancing solicitors assured me that they report fully next week. Are there areas in the report that I should be focusing on?

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

• You should receive a copy of the lease

Setting out your rights in respect of common areas in the building.By way of example, does the lease contain a right of way over an accessway or hallways?

Does the lease require carpeting throughout thus preventing wood flooring?

You need to be told what constitutes a Nuisance in the lease

Ground rent - how much and when you need to pay, and also know whether this is subject to change

Whether your lease has a provision for a sinking fund?

Changes to the flat (alterations and additions) For a comprehensive list of information to be contained in your report on your leasehold property in East Dean please ask your lawyer in ahead of your conveyancing in East Dean

I today plan to offer on a house that appears to be perfect, at a reasonable figure which is making it more attractive. I have since been informed that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in East Dean. Conveyancing solicitors have are about to be instructed. Will they explain the issues?

The majority of houses in East Dean are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. it is apparent that you are buying in East Dean so you should seriously consider looking for a East Dean conveyancing practitioner and be sure that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example requiring the landlord’spermission to conduct alterations. You may also be required to pay a contribution towards the upkeep of the communal areas where the house is located on an estate. Your conveyancer should report to you on the legal implications.

My wife and I purchased a leasehold house in East Dean. Conveyancing and Accord Mortgages Ltd mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1993. The conveyancing practitioner in East Dean who previously acted has now retired.Any advice?

The first thing you should do is make enquiries of HMLR to be sure that this person is indeed the new freeholder. There is no need to incur the fees of a East Dean conveyancing practitioner to do this as it can be done on-line for £3. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am attracted to a two flats in East Dean both have about 50 years left on the lease term. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold apartment in East Dean is a deteriorating asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it reduces the value of the premises. The majority of purchasers and banks, leases with under 75 years become less and less attractive. On a more positive 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 premises 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 East Dean 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 You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. 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.

If all goes to plan we aim to complete the disposal of our £350000 maisonette in East Dean in 10 days. The management company has quoted £348 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a flat conveyance in East Dean?

For the majority of leasehold sales in East Dean conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Addressing pre-contract questions
• Where consent is required before sale in East Dean
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your solicitor will have no control over the level of the charges for this information but the average costs for the information for East Dean leasehold property is £350. For East Dean conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to supply answers.

Leasehold Conveyancing in East Dean - Sample of Queries Prior to Purchasing

If a East Dean lease has no more than 80 years it will have adverse implications on the value of the apartment. Check with your bank that they are happy with residual term of the lease. Leases with less than 80 years remaining means that you will most likely have to extend the lease sooner rather than later and it is worth finding out how much this will be. Remember, in most cases you will need to own the premises for a couple of years before you are eligible to extend the lease. How many of the leaseholders are in arrears for their maintenance charge payments? Best to be warned whether window replacement or some other major work is due in the foreseeable future to be shared by the leaseholders and could well dramatically increase the the maintenance fees or result in a one time payment.

Other Topics

Lease Extensions in East Dean