Quality lawyers for Leasehold Conveyancing in Leigh On Sea

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Questions and Answers: Leigh On Sea leasehold conveyancing

I am on look out for some leasehold conveyancing in Leigh On Sea. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.

Assuming the lease is registered - and most are in Leigh On Sea - 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 work for a long established estate agency in Leigh On Sea where we have witnessed a number of flat sales jeopardised due to leases having less than 80 years remaining. I have received contradictory information from local Leigh On Sea conveyancing firms. Please can you shed some light as to whether the seller of a flat can instigate the lease extension process 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 commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.

An alternative approach is to extend the lease informally by agreement with the landlord 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 buyer.

What advice can you give us when it comes to finding a Leigh On Sea conveyancing firm to carry out our lease extension conveyancing?

When appointing a solicitor for your lease extension (regardless if they are a Leigh On Sea conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with two or three firms including non Leigh On Sea conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be useful:

  • How familiar is the firm with lease extension legislation?
  • What volume of lease extensions have they carried out in Leigh On Sea in the last year?

  • Can you provide any top tips for leasehold conveyancing in Leigh On Sea from the point of view of expediting the sale process?

    • Much of the frustration in leasehold conveyancing in Leigh On Sea can be avoided where you appoint lawyers the minute you market your property and ask them to put together the leasehold information which will be required by the buyers representatives.
    • Many landlords or managing agents in Leigh On Sea charge for supplying management packs for a leasehold homes. You or your lawyers should enquire as to the fee that they propose to charge. The management pack sought on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Leigh On Sea.
  • A minority of Leigh On Sea 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. The bank reference should make it clear that the buyer is 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 buyers or their lawyers.
  • If there is a history of any disputes with your freeholder or managing agents it is essential that these are settled prior to the flat being marketed. The buyers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You may have to bite the bullet 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 are still duty bound to disclose details of the dispute to the buyers, but it is clearly preferable to present the dispute as historic rather than ongoing.
  • You may think that you are aware of the number of years left on your lease but you should verify this by asking your conveyancers. A purchaser's conveyancer will be unlikely to recommend their client to to exchange contracts if the lease term is below 75 years. It is therefore important at an early stage that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

  • Completion in due on our sale of a £450000 flat in Leigh On Sea in just under a week. The managing agents has quoted £324 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in Leigh On Sea?

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

    • Addressing pre-exchange questions
    • Where consent is required before sale in Leigh On Sea
    • Supplying insurance information
    • 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 Leigh On Sea leasehold property is £350. For Leigh On Sea 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 the information.

    Leigh On Sea Leasehold Conveyancing - A selection of Queries before buying

      Is there a share of the freehold? Who is in charge of the block? Be sure to find out if there are any onerous prohibitions in the lease. For example plenty of leases prohibit pets being permitted in in a block in Leigh On Sea. If you like the apartmentin Leigh On Sea but your dog can’t make the move with you then you will be faced difficult compromise.

    Other Topics

    Lease Extensions in Leigh On Sea