I am on look out for some leasehold conveyancing in Manningtree. Before diving in I want to be sure as to the number of years remaining on the lease.

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

Planning to sign contracts shortly on a ground floor flat in Manningtree. Conveyancing lawyers have said that they report fully tomorrow. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Manningtree should include some of the following:

• Setting out your rights in respect of common areas in the building.E.G., does the lease permit a right of way over an accessway or hallways?
• Whether the lease restricts you from letting out the flat, or working from home
• Whether your lease has a provision for a sinking fund?
• Repair and maintenance of the flat
• Changes to the flat (alterations and additions)
• I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
• What you can do if a neighbour breach a clause of their lease?

I am attracted to a two apartments in Manningtree which have approximately forty five years left on the lease term. Should I regard a short lease as a deal breaker?

A lease is a legal document that entitles you to use the property for a period of time. As a lease shortens the marketability of the lease decreases and results in it becoming more costly to extend the lease. For this reason it is generally wise to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease because mortgage lenders may be unwilling to lend money on such properties. Lease enfranchisement can be a difficult process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this arena

I am employed by a long established estate agency in Manningtree where we see a number of flat sales jeopardised due to leases having less than 80 years remaining. I have received contradictory information from local Manningtree conveyancing firms. Can you confirm whether the vendor of a flat can start the lease extension process for the buyer?

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. This means that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.

Alternatively, it may be possible to agree the lease extension with the freeholder 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 purchaser.

Do you have any advice for leasehold conveyancing in Manningtree from the point of view of speeding up the sale process?

• Much of the delay in leasehold conveyancing in Manningtree can be avoided if you instruct lawyers the minute you market your property and ask them to collate the leasehold documentation which will be required by the purchasers’ representatives.
• In the event that you altered the property did you need the Landlord’s approval? Have you, for example installed wooden flooring? Most leases in Manningtree state that internal structural changes or installing wooden flooring require a licence issued by the Landlord consenting to such alterations. Where you dont have the paperwork to hand you should not contact the landlord without contacting your conveyancer in advance.
• Some Manningtree leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference will need to confirm that the buyers are able to meet 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 purchasers or their solicitors.
• If there is a history of any disputes with your freeholder or managing agents it is very important that these are settled before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a property where a dispute is ongoing. You may need to swallow your pride and pay any arrears of service charge or settle 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 reveal the dispute as over as opposed to ongoing.
• If you are supposed to have a share in the freehold, you should make sure that you are holding the original share document. Organising a replacement share certificate can be a lengthy process and frustrates many a Manningtree home move. If a duplicate share is necessary, do contact the company director and secretary or managing agents (if applicable) for this at the earliest opportunity.

Manningtree Conveyancing for Leasehold Flats - A selection of Queries before buying

The prefered form of lease arrangement is where the freehold reversion is in the ownership of the leaseholders. In this arrangement the tenants enjoy control and although a managing agent is usually retained if the building is bigger than a house conversion, the managing agent acts for the leaseholders themselves. Is anyone aware of any major works in the near future that could add a premium to the maintenance fees?