Recently asked questions relating to Lancing leasehold conveyancing
I am on look out for some leasehold conveyancing in Lancing. Before diving in I would like to find out the unexpired term of the lease.
If the lease is registered - and 99.9% are in Lancing - 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.
I’m about to sell my 2 bed apartment in Lancing.Conveyancing lawyers have not yet been instructed but I have just had a quarterly maintenance charge invoice – what should I do?
It best that you pay 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 managing agents 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.
I've found a house that seems to meet my requirements, at a great figure which is making it all the more appealing. I have subsequently discovered that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Lancing. Conveyancing lawyers have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Lancing ?
Most houses in Lancing are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. it is apparent that you are purchasing in Lancing so you should seriously consider shopping around for a Lancing conveyancing solicitor and check that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as obtaining the freeholder’sconsent to carry out changes to the property. You may also be required to pay a service charge towards the maintenance of the estate where the house is located on an estate. Your solicitor will advise you fully on all the issues.
Back In 2005, I bought a leasehold house in Lancing. Conveyancing and Bank of Scotland mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1998. The conveyancing practitioner in Lancing who acted for me is not around.Do I pay?
The first thing you should do is make enquiries of the Land Registry to make sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. You do not need to instruct a Lancing conveyancing lawyer to do this as you can do this on the Land Registry website for £3. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
If all goes to plan we aim to complete the sale of our £200000 flat in Lancing next Monday . The freeholder has quoted £300 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Lancing?
Lancing conveyancing on leasehold maisonettes more often than not necessitates the purchaser’s solicitor submitting questions for the landlord to answer. Although the landlord is not legally bound to address these enquiries the majority will be content to do so. They are at liberty charge a reasonable administration fee for answering questions or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is £350, in some situations it is above £800. The management information fee required by the landlord must be accompanied by a summary of entitlements and obligations in respect of administration fees, otherwise the invoice is technically not due. In reality one has no choice but to pay whatever is demanded if you want to complete the sale of your home.
I am the registered owner of a 1st floor flat in Lancing, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable properties in Lancing with over 90 years remaining are worth £175,000. The average or mid-range amount of ground rent is £60 levied per year. The lease expires on 21st October 2104
With only 79 years unexpired we estimate the price of your lease extension to range between £10,500 and £12,000 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.
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