I am on look out for some leasehold conveyancing in Lancing. Before diving in I want to be sure as to the unexpired term of the lease.

If the lease is recorded at the land registry - and almost all are in Lancing - then the leasehold title will always include the basic details 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 Lancing.Conveyancing solicitors are to be appointed soon but I have just had a quarterly service charge demand – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should 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 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. Having a clear account will assist your cause and will leave you no worse off financially.

I am a negotiator for a long established estate agent office in Lancing where we have witnessed a number of flat sales jeopardised as a result of leases having less than 80 years remaining. I have been given conflicting advice from local Lancing conveyancing firms. Could you clarify whether the vendor of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.

An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

We expect to complete the sale of our £400000 apartment in Lancing in 5 days. The managing agents has quoted £360 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Lancing?

For most leasehold sales in Lancing 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 Lancing
• 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 solicitor will have no control over the level of the charges for this information but the average costs for the information for Lancing leasehold property is £350. For Lancing 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 obliged to provide answers.

What are the frequently found deficiencies that you come across in leases for Lancing properties?

There is nothing unique about leasehold conveyancing in Lancing. All leases are unique and drafting errors can sometimes mean that certain sections are wrong. 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 issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. National Westminster Bank, Virgin Money, and Britannia all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, forcing the buyer to withdraw.

Lancing Conveyancing for Leasehold Flats - Sample of Questions you should ask before buying

Be sure to discover if there is anything that is prohibited in the lease. By way of example it is very common in Lancing leases that pets are not permitted in certain buildings in Lancing. If you like the propertyin Lancing however your dog is not allowed to live with you then you will be presented with a hard compromise. Best to be warned if a new roof is being installed or some other significant cost is pending to be shared amongst the leasehold owners and could well dramatically increase the the maintenance costs or require a one time payment. The best form of lease structure is if the freehold reversion is owned by the leaseholders. In this scenario the tenants benefit from being in charge if their destiny and even though a managing agent is frequently retained if the building is larger than a house conversion, the managing agent is directed by the tenants.

Other Topics

Lease Extensions in Lancing