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Common questions relating to Hassocks leasehold conveyancing

Estate agents have just been given the go-ahead to market my 2 bed flat in Hassocks.Conveyancing solicitors are to be appointed soon but I have just received a yearly service charge demand – what should I do?

It best that you pay 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. Having a clear account will assist your cause and will leave you no worse off financially.

My wife and I purchased a leasehold house in Hassocks. Conveyancing and HSBC Bank mortgage organised. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1995. The conveyancing practitioner in Hassocks who acted for me is not around.Do I pay?

First contact the Land Registry to make sure that the individual claiming to own the freehold is in fact the new freeholder. There is no need to instruct a Hassocks conveyancing lawyer to do this as you can do this on the Land Registry website for £3. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

Do you have any top tips for leasehold conveyancing in Hassocks from the perspective of expediting the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Hassocks can be avoided if you instruct lawyers as soon as you market your property and request that they start to put together the leasehold information which will be required by the buyers conveyancers.
  • Many freeholders or managing agents in Hassocks levy fees for supplying management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most common cause of delay in leasehold conveyancing in Hassocks.
  • If you have carried out any alterations to the property would they have required Landlord’s consent? In particular have you laid down wooden flooring? Hassocks leases often stipulate that internal structural alterations or laying down wooden flooring necessitate a licence from the Landlord acquiescing to such works. Should you fail to have the consents in place you should not communicate with the landlord without contacting your lawyer first.
  • Some Hassocks leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should notify your estate agents to make sure that the purchasers put in hand bank and professional references. Any bank reference will need to confirm that the buyers are able to meet 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 service charge figures so that they can pass this information on to the buyers or their solicitors.
  • If you have had any disputes with your freeholder or managing agents it is essential that these are settled prior to the flat being put on the market. The buyers and their solicitors will be reluctant to purchase a flat 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 prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is better to present the dispute as over rather than unresolved.

    • Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £300000 maisonette in Hassocks next Thursday . The management company has quoted £372 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Hassocks?

    Hassocks conveyancing on leasehold apartments more often than not involves the purchaser’s solicitor submitting enquiries for the landlord to address. Although the landlord is under no legal obligation to answer such questions the majority will be willing to assist. They may invoice a reasonable administration fee for answering questions or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is £350, in some transactions it is above £800. The management information fee invoiced by the landlord must be accompanied by a synopsis of entitlements and obligations in respect of administration charges, otherwise the charge is technically not due. Reality however dictates that you have no choice but to pay whatever is requested of you should you wish to exchange contracts with the buyer.

    What makes a Hassocks lease unacceptable for security purposes?

    Leasehold conveyancing in Hassocks is not unique. Most leases is drafted differently and drafting errors 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 premises
    • A duty to insure the building
    • A provision for the recovery of money spent for the benefit of another party.
    • Maintenance charge proportions which don’t add up to the correct percentage

    You will have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, Norwich and Peterborough Building Society, and Platform Home Loans Ltd all have express conveyancing instructions 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 purchaser to withdraw.

    I inherited a 1 bedroom flat in Hassocks, conveyancing having been completed in 2012. Can you work out an approximate cost of a lease extension? Corresponding properties in Hassocks with an extended lease are worth £175,000. The average or mid-range amount of ground rent is £60 levied per year. The lease finishes on 21st October 2086

    With only 61 years remaining on your lease we estimate the premium for your lease extension to range between £21,900 and £25,200 plus professional fees.

    The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Hassocks