Estate agents have just been given the go-ahead to market my 2 bed apartment in Frinton On Sea.Conveyancing has not commenced but I have just received a yearly service charge demand – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should discharge the service charge 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 unless 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 2006, I bought a leasehold flat in Frinton On Sea. Conveyancing and TSB mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1995. The conveyancing practitioner in Frinton On Sea who previously acted has long since retired.What should I do?

First make enquiries of the Land Registry to make sure that this person is in fact the registered owner of the freehold reversion. There is no need to instruct a Frinton On Sea conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

What are your top tips when it comes to appointing a Frinton On Sea conveyancing firm to deal with our lease extension?

When appointing a solicitor for lease extension works (regardless if they are a Frinton On Sea conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We recommend that you talk with several firms including non Frinton On Sea conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be useful:

• How many lease extensions have they conducted in Frinton On Sea in the last year?
• Can they put you in touch with client in Frinton On Sea who can give a testimonial?

Do you have any advice for leasehold conveyancing in Frinton On Sea with the purpose of expediting the sale process?

• Much of the delay in leasehold conveyancing in Frinton On Sea can be bypassed where you get in touch lawyers the minute your agents start advertising the property and request that they start to collate the leasehold documentation which will be required by the purchasers’ lawyers.
• Many freeholders or Management Companies in Frinton On Sea charge for supplying management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Frinton On Sea.
• Some Frinton On Sea leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference will need to confirm that the buyers are able to meet 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 solicitors.
• If there is a history of any disputes with your landlord or managing agents it is very important that these are resolved prior to the flat being marketed. The buyers and their solicitors will be nervous about purchasing a flat where there is an ongoing dispute. You will have to accept that you will have to discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as over rather than ongoing.
• You may think that you are aware of the number of years remaining on your lease but it would be advisable double-check via your lawyers. A purchaser's conveyancer will not be happy to advise their client to to exchange contracts if the lease term is under 80 years. It is therefore essential at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

What makes a Frinton On Sea lease unmortgageable?

There is nothing unique about leasehold conveyancing in Frinton On Sea. Most leases are unique and legal mistakes in the legal wording can result in certain provisions are not included. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain elements of the property
• A duty to insure the building
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

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. Lloyds TSB Bank, Skipton Building Society, and Britannia all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, obliging the buyer to withdraw.

I bought a ground floor flat in Frinton On Sea, conveyancing was carried out in 2000. How much will my lease extension cost? Similar flats in Frinton On Sea with an extended lease are worth £187,000. The average or mid-range amount of ground rent is £65 yearly. The lease finishes on 21st October 2084

With just 58 years remaining on your lease the likely cost is going to be between £24,700 and £28,600 as well as legals.

The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues 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 based on this information without first seeking the advice of a professional.