Guaranteed fixed fees for Leasehold Conveyancing in Littlehampton

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Examples of recent questions relating to leasehold conveyancing in Littlehampton

I am in need of some leasehold conveyancing in Littlehampton. Before I get started I require certainty as to the remaining lease term.

Assuming the lease is registered - and most are in Littlehampton - 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.

My wife and I purchased a leasehold house in Littlehampton. Conveyancing and Accord Mortgages Ltd mortgage went though with no issue. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1991. The conveyancing practitioner in Littlehampton who previously acted has long since retired.What should I do?

The first thing you should do is make enquiries of the Land Registry to be sure that the individual claiming to own the freehold is in fact the new freeholder. You do not need to incur the fees of a Littlehampton conveyancing firm to do this as it can be done on-line for less than a fiver. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

What are your top tips when it comes to appointing a Littlehampton conveyancing firm to carry out our lease extension conveyancing?

When appointing a property lawyer for lease extension works (regardless if they are a Littlehampton conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with several firms including non Littlehampton conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be helpful:

  • How experienced is the firm with lease extension legislation?
  • Can they put you in touch with client in Littlehampton who can give a testimonial?

    • Can you provide any top tips for leasehold conveyancing in Littlehampton with the purpose of saving time on the sale process?

    • Much of the delay in leasehold conveyancing in Littlehampton can be avoided where you get in touch lawyers the minute you market your property and ask them to collate the leasehold information needed by the purchasers’ conveyancers.
    • The majority freeholders or Management Companies in Littlehampton levy fees for supplying management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most common reason for delay in leasehold conveyancing in Littlehampton.
  • Some Littlehampton 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 bank and professional references. Any 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 service charge figures so that they can pass this information on to the buyers or their solicitors.
  • If you have had conflict with your freeholder or managing agents it is essential that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be nervous about purchasing a flat where there is a current dispute. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is clearly preferable to present the dispute as over rather than unsettled.
  • You may think that you are aware of the number of years left on your lease but it would be advisable verify this via your lawyers. A buyer’s conveyancer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is under 75 years. In the circumstances it is important at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • Are there frequently found problems that you encounter in leases for Littlehampton properties?

    Leasehold conveyancing in Littlehampton is not unique. Most leases are unique and drafting errors can result in certain provisions are erroneous. For example, if your lease is missing any of the following, it could be defective:

    • A provision to repair 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.
    • Service charge per centages that don't add up correctly leaving a shortfall

    You will have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Accord Mortgages Ltd, The Royal Bank of Scotland, and Nottingham Building Society all have very detailed 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 provide security, forcing the buyer to withdraw.

    Littlehampton Conveyancing for Leasehold Flats - Examples of Questions you should consider before Purchasing

      Please note that where the lease has less than 80 years it will impact the value of the apartment. Check with your bank that they are content with residual term of the lease. Leases with fewer than 80 years remaining means that you will most likely have to extend the lease at some point and it is worth discovering what this would cost. Remember, in most cases you will be be obliged to have been the owner of the premises for 24 months before you are eligible to extend the lease. How many of the leaseholders are in arrears for their service charge payments? On the whole the cost for major works are not wrapped into the service charges, albeit that there some managing agents in Littlehampton obliged leasehold owners to pay into a reserve fund created for the specific intention of establishing a fund for larger repairs or maintenance.

    Other Topics

    Lease Extensions in Littlehampton