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

Kesgrave leasehold conveyancing: Q and A’s

Having had my offer accepted I require leasehold conveyancing in Kesgrave. Before diving in I require certainty as to the remaining lease term.

Assuming the lease is registered - and almost all are in Kesgrave - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

Estate agents have just been given the go-ahead to market my basement apartment in Kesgrave.Conveyancing solicitors are to be appointed soon but I have just received a yearly maintenance charge invoice – what should I do?

It best that you discharge the invoice 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.

Last month I purchased a leasehold property in Kesgrave. Am I liable to pay service charges for periods before my ownership?

In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Can you offer any advice when it comes to finding a Kesgrave conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a conveyancer for lease extension works (regardless if they are a Kesgrave conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with two or three firms including non Kesgrave conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

  • How familiar is the practice with lease extension legislation?
  • Can they put you in touch with client in Kesgrave who can give a testimonial?

    • Can you provide any top tips for leasehold conveyancing in Kesgrave with the intention of speeding up the sale process?

    • Much of the delay in leasehold conveyancing in Kesgrave can be bypassed if you instruct lawyers the minute you market your property and request that they start to collate the leasehold information needed by the purchasers’ representatives.
    • In the event that you altered the property did you need the Landlord’s approval? In particular have you installed wooden flooring? Kesgrave leases often stipulate that internal structural changes or laying down wooden flooring calls for a licence issued by the Landlord acquiescing to such changes. If you fail to have the consents to hand you should not contact the landlord without contacting your conveyancer before hand.
  • Some Kesgrave leases require Licence to Assign from the landlord. If this is the case, it would be prudent to place the estate agents on notice 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 financially capable of paying 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 actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers.
  • If you are supposed to have a share in the freehold, you should make sure that you have the original share certificate. Organising a new share certificate is often a time consuming process and delays many a Kesgrave conveyancing deal. If a reissued share is necessary, do contact the company director and secretary or managing agents (where relevant) for this at the earliest opportunity.
  • You may think that you are aware of the number of years remaining on your lease but it would be wise to verify this by asking your conveyancers. A buyer’s lawyer will not be happy to advise their client to where the lease term is less than 80 years. In the circumstances it is important at an early stage that you consider 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.

    • I inherited a garden flat in Kesgrave, conveyancing formalities finalised half a dozen years ago. How much will my lease extension cost? Comparable properties in Kesgrave with over 90 years remaining are worth £173,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease comes to an end on 21st October 2086

    With only 60 years remaining on your lease we estimate the premium for your lease extension to span between £20,000 and £23,000 plus plus your own and the landlord's "reasonable" professional fees.

    The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Kesgrave