Guaranteed fixed fees for Leasehold Conveyancing in Hailsham

When it comes to leasehold conveyancing in Hailsham, you will need to instruct a conveyancing solicitor with leasehold experience. Whether your lender is to be Santander, Yorkshire Building Society or Nationwide be sure to find a lawyer on their approved list. Find a Hailsham conveyancing lawyer with our search tool

Hailsham leasehold conveyancing: Q and A’s

Estate agents have just been given the go-ahead to market my ground floor apartment in Hailsham.Conveyancing has not commenced but I have just received a yearly maintenance charge demand – what should I do?

It best that you 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 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 2003, I bought a leasehold house in Hailsham. Conveyancing and Godiva Mortgages Ltd mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1991. The conveyancing solicitor in Hailsham who previously acted has now retired.Any advice?

The first thing you should do is contact HMLR to be sure that the individual claiming to own the freehold is indeed the new freeholder. It is not necessary to incur the fees of a Hailsham conveyancing lawyer to do this as it can be done on-line for a few pound. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am looking at a two apartments in Hailsham which have in the region of fifty years remaining on the leases. Will this present a problem?

There is no doubt about it. A leasehold apartment in Hailsham is a wasting asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it adversely affects the marketability of the premises. The majority of buyers and lenders, 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 property 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 Hailsham 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 the disposal of our £325000 garden flat in Hailsham next week. The managing agents has quoted £360 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Hailsham?

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

  • Completing conveyancing due diligence questions
  • Where consent is required before sale in Hailsham
  • Copies of the building insurance and schedule
  • Deeds of covenant upon sale
  • Registering of the assignment of the change of lessee after a sale
Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Hailsham leasehold property is £350. For Hailsham 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 provide answers.

What are the frequently found defects that you witness in leases for Hailsham properties?

There is nothing unique about leasehold conveyancing in Hailsham. Most leases are individual and legal mistakes in the legal wording can result in certain clauses are erroneous. The following missing provisions could result in a defective lease:

  • Repairing obligations to or maintain parts of the building
  • Insurance obligations
  • 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 primarily because it impacts on the ability to obtain a mortgage on the property. Santander, Leeds Building Society, and Bank of Ireland 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 is problematic they may refuse to grant the mortgage, forcing the buyer to withdraw.

Leasehold Conveyancing in Hailsham - A selection of Queries before buying

    How is the lease structured? How much is the ground rent and service charge? It is important to be aware whether changing the roof or some other significant cost is due in the near future to be shared amongst the leasehold owners and will materially impact the level of the service costs or necessitate a specific invoice.

Other Topics

Lease Extensions in Hailsham