I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a great figure which is making it all the more appealing. I have since been informed that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns buying a leasehold house in Pevensey. Conveyancing solicitors have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Pevensey ?

Most houses in Pevensey are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are purchasing in Pevensey so you should seriously consider looking for a Pevensey conveyancing solicitor and check that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’sconsent to carry out changes to the property. You may also be required to pay a contribution towards the maintenance of the estate where the house is part of an estate. Your solicitor should advise you fully on all the issues.

I am attracted to a two maisonettes in Pevensey which have in the region of 50 years left on the leases. Should I regard a short lease as a deal breaker?

A lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease shortens the value of the lease decreases and results in it becoming more costly to extend the lease. This is why it is generally wise to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a protracted process. We advise that you seek professional help from a solicitor and surveyor with experience in this field

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

• A significant proportion of the frustration in leasehold conveyancing in Pevensey can be bypassed if you appoint lawyers the minute your agents start marketing the property and request that they start to put together the leasehold information needed by the buyers lawyers.
• A minority of Pevensey leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference should make it clear that the buyer is financially capable of paying 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 landlord or managing agents it is very important that these are settled before the property is put on the market. The purchasers and their solicitors will be reluctant to purchase a property where a dispute is ongoing. You will have to accept that you will have to discharge 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 ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as historic rather than unsettled.
• If you are supposed to have a share in the Management Company, you should ensure that you are holding the original share certificate. Obtaining a duplicate share certificate can be a time consuming process and frustrates many a Pevensey home move. Where a reissued share certificate is needed, do contact the company officers or managing agents (where relevant) for this at the earliest opportunity.
• You believe that you know the number of years remaining on your lease but it would be wise to double-check via your lawyers. A buyer’s conveyancer will not be happy to advise their client to where the lease term is under 80 years. It is therefore essential at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

All being well we will complete the disposal of our £ 150000 maisonette in Pevensey on Tuesday in a week. The management company has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Pevensey?

Pevensey conveyancing on leasehold maisonettes ordinarily results in fees being invoiced by managing agents :

• Addressing pre-contract questions
• Where consent is required before sale in Pevensey
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Pevensey leasehold premises is £350. For Pevensey conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to provide answers.

What makes a Pevensey lease problematic?

Leasehold conveyancing in Pevensey is not unique. Most leases are individual and legal mistakes in the legal wording can sometimes mean that certain clauses are wrong. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain parts of the premises
• 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 problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, Virgin Money, and Bank of Ireland all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, obliging the purchaser to withdraw.

Pevensey Leasehold Conveyancing - A selection of Questions you should consider before Purchasing

The prefered form of lease structure is a share of the freehold. In this scenario the lessees have being in charge if their destiny and even though a managing agent is frequently employed where it is bigger than a house conversion, the managing agent acts for the leaseholders themselves. How long is the Lease?