Lewes leasehold conveyancing: Q and A’s
I am hoping to sign contracts shortly on a garden flat in Lewes. Conveyancing solicitors assured me that they are sending me a report within the next couple of days. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Lewes should include some of the following:
- You should be sent a copy of the lease
Back In 2008, I bought a leasehold flat in Lewes. Conveyancing and Aldermore mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1996. The conveyancing practitioner in Lewes who previously acted has now retired.What should I do?
First contact HMLR to be sure that this person is in fact the new freeholder. It is not necessary to instruct a Lewes conveyancing practitioner to do this as it can be done on-line for £3. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am looking at a couple of apartments in Lewes both have approximately forty five years remaining on the leases. should I be concerned?
A lease is a legal document that entitles you to use the property for a period of time. As the lease gets shorter the marketability of the lease deteriorate and results in it becoming more costly to acquire a lease extension. This is why it is advisable to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We advise that you get professional help from a solicitor and surveyor with experience in this area
If all goes to plan we aim to complete the sale of our £200000 apartment in Lewes next Thursday . The management company has quoted £300 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Lewes?
Lewes conveyancing on leasehold apartments typically involves administration charges invoiced by landlords agents :
- Completing pre-exchange questions
- Where consent is required before sale in Lewes
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
In relation to leasehold conveyancing in Lewes what are the most common lease problems?
There is nothing unique about leasehold conveyancing in Lewes. Most leases is drafted differently and drafting errors can sometimes mean that certain clauses are not included. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain elements 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 can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Leeds Building Society, and Nottingham Building Society all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, forcing the buyer to pull out.
Lewes Leasehold Conveyancing - Examples of Questions you should ask Prior to buying
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Plenty Lewes leasehold apartments will incur a service charge for maintenance of the block set on behalf of the landlord. Should you buy the apartment you will have to pay this charge, normally in instalments accross the year. This may be anything from several hundred pounds to thousands of pounds for blocks with lifts and large common areas. There will also be a rentcharge for you to pay annual, this is usually not a large sum, say approximately £50-£100 but you should to check as sometimes it can be prohibitively expensive.
Can you tell me if there are any major works anticipated that will add a premium to the service fees?
You should want to discover as much as possible regarding the managing agents as they will affect your use and enjoyment of the property. Being a leasehold owner you are frequently at the mercy of the managing agents both financially and when it comes to daily issues like the tidiness of the communal areas. Ask other tenants whether they are happy with them. In conclusion, investigate as to the dates that you are obliged pay the maintenance charge to the relevant party and specifically what you get for your money.
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