Lewes leasehold conveyancing: Q and A’s
I am in need of some leasehold conveyancing in Lewes. Before I set the wheels in motion I would like to find out the unexpired term of the lease.
If the lease is registered - and almost all are in Lewes - 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.
I have recently realised that I have 68 years remaining on my lease in Lewes. I need to extend my lease but my freeholder is absent. What should I do?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. However, you will be required to demonstrate that you have done all that could be expected to find the landlord. On the whole a specialist would be useful to carry out a search and prepare an expert document which can be accepted by the court as proof that the landlord is indeed missing. It is advisable to get professional help from a solicitor in relation to investigating the landlord’s absence and the vesting order request to the County Court covering Lewes.
Can you provide any top tips for leasehold conveyancing in Lewes from the point of view of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Lewes can be bypassed if you get in touch lawyers as soon as you market your property and request that they start to collate the leasehold documentation which will be required by the purchasers’ representatives.
- The majority freeholders or managing agents in Lewes charge for supplying management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management information sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Lewes.
If all goes to plan we aim to complete our sale of a £400000 flat in Lewes next Tuesday . The management company has quoted £360 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Lewes?
Lewes conveyancing on leasehold maisonettes more often than not involves the buyer’s lawyer submitting questions for the landlord to answer. Although the landlord is not legally bound to address such questions most will be willing to assist. They may charge a reasonable administration fee for answering questions or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is £350, in some transactions it is in excess of £800. The administration charge required by the landlord must be sent together with a summary of rights and obligations in respect of administration fees, otherwise the invoice is not strictly payable. Reality however dictates that you have no option but to pay whatever is requested of you should you wish to sell the property.
In relation to leasehold conveyancing in Lewes what are the most common lease problems?
There is nothing unique about leasehold conveyancing in Lewes. All leases are individual and drafting errors can sometimes mean that certain clauses are wrong. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain elements of the property
- 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
A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Santander, Virgin Money, 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 defective they may refuse to grant the mortgage, forcing the purchaser to withdraw.
Lewes Conveyancing for Leasehold Flats - Examples of Queries before buying
Are there any major works on the horizon that will likely increase the service fees?
In the main the cost for major works are not incorporated into the maintenance charges, albeit that some managing agents in Lewes ask tenants to pay into a sinking fund and this is used to offset against major repairs or maintenance.
This information is important as a) areas can cause problems in the block as the common areas may begin to deteriorate where services are not paid for b) if the leaseholders have an issue with the managing agents you will want to have all the details