Fixed-fee leasehold conveyancing in Mersea Island:

Leasehold conveyancing in Mersea Island is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Mersea Island and across next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Common questions relating to Mersea Island leasehold conveyancing

I've found a house that appears to be perfect, at a reasonable figure which is making it all the more appealing. I have since discovered that the title is leasehold rather than freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Mersea Island. Conveyancing advisers have are about to be instructed. Will they explain the issues?

The majority of houses in Mersea Island are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are buying in Mersea Island in which case you should be looking for a Mersea Island conveyancing practitioner and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example obtaining the freeholder’spermission to carry out alterations. It may be necessary to pay a contribution towards the maintenance of the communal areas where the property is part of an estate. Your solicitor will appraise you on the various issues.

I am a negotiator for a long established estate agent office in Mersea Island where we have witnessed a few leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have received conflicting advice from local Mersea Island conveyancing solicitors. Please can you clarify whether the vendor of a flat can commence the lease extension process for the buyer?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.

An alternative approach is 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 buyer.

Can you provide any advice for leasehold conveyancing in Mersea Island with the intention of expediting the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Mersea Island can be bypassed where you instruct lawyers as soon as you market your property and request that they start to put together the leasehold information needed by the buyers solicitors.
  • If you have carried out any alterations to the premises would they have required Landlord’s consent? In particular have you installed wooden flooring? Most leases in Mersea Island state that internal structural changes or installing wooden flooring calls for a licence issued by the Landlord acquiescing to such works. Where you fail to have the consents to hand do not communicate with the landlord without checking with your lawyer before hand.
  • Some Mersea Island leases require Licence to Assign from the landlord. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. The bank reference should make it clear that the buyer is able to meet the annual 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 lawyers.
  • If there is a history of any disputes with your freeholder or managing agents it is very important that these are settled prior to the flat being put on the market. The buyers and their solicitors will be nervous about purchasing a flat where there is an ongoing dispute. You may need to swallow your pride 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 ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is better to present the dispute as historic as opposed to ongoing.
  • You may think that you are aware of the number of years remaining on your lease but you should double-check by asking your solicitors. A buyer’s conveyancer will not be happy to advise their client to to exchange contracts if the lease term is under 80 years. It is therefore important at an as soon as possible that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

  • We expect to complete our sale of a £375000 garden flat in Mersea Island on Wednesday in a week. The managing agents has quoted £384 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Mersea Island?

    Mersea Island conveyancing on leasehold maisonettes more often than not necessitates the purchaser’s solicitor sending enquiries for the landlord to answer. Although the landlord is under no legal obligation to answer such questions most will be content to do so. They are entitled invoice a reasonable charge for responding to questions or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is £350, in some cases it exceeds £800. The management information fee levied by the landlord must be accompanied by a synopsis of entitlements and obligations in respect of administration fees, otherwise the invoice is technically not due. In reality you have little option but to pay whatever is requested of you should you wish to sell the property.

    What makes a Mersea Island lease unmortgageable?

    There is nothing unique about leasehold conveyancing in Mersea Island. Most leases are unique and legal mistakes in the legal wording can sometimes mean that certain clauses are not included. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain parts of the building
    • A duty to insure the building
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Service charge per centages that don't add up correctly leaving a shortfall

    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. Lloyds TSB Bank, Virgin Money, and Aldermore all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, obliging the purchaser to pull out.

    Leasehold Conveyancing in Mersea Island - Sample of Questions you should ask before Purchasing

      Plenty Mersea Island leasehold properties will have a service bill for the upkeep of the building invoiced on behalf of the landlord. Where you acquire the flat you will have to meet this charge, normally periodically accross the year. This may vary from a few hundred pounds to thousands of pounds for large purpose-built buildings. There will also be a rentcharge for you to pay yearly, normally this is not a large sum, say around £25-£75 but you should to check it because occasionally it can be many hundreds of pounds. What is the length of the lease? It would be prudent to discover as much as possible concerning the company managing the building as they will affect your use and enjoyment of the property. As the owner of a leasehold property you are frequently in the clutches of the managing agents from a financial perspective and when it comes to practical matters like the tidiness of the communal areas. Enquire of other tenants what they think of their service. Finally, find out the dates that you are obliged pay the maintenance charge to the relevant party and precisely what you get for your money.

    Other Topics

    Lease Extensions in Mersea Island