Having had my offer accepted I require leasehold conveyancing in Portslade. Before I get started I want to be sure as to the unexpired term of the lease.

Assuming the lease is registered - and almost all are in Portslade - 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.

I have just appointed agents to market my basement flat in Portslade.Conveyancing is yet to be initiated but I have just received a half-yearly maintenance charge demand – what should I do?

It best that you clear the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

Back In 2007, I bought a leasehold house in Portslade. Conveyancing and Nationwide Building Society mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1998. The conveyancing practitioner in Portslade who acted for me is not around.What should I do?

First contact HMLR to make sure that the individual purporting to own the freehold is indeed the new freeholder. You do not need to incur the fees of a Portslade conveyancing firm to do this as it can be done on-line for a few pound. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I've recently bought a leasehold house in Portslade. Am I liable to pay service charges for periods before my ownership?

Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Completion in due on the disposal of our £350000 garden flat in Portslade in just under a week. The managing agents has quoted £324 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Portslade?

For the majority of leasehold sales in Portslade conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Addressing pre-exchange enquiries
• Where consent is required before sale in Portslade
• 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 Portslade leasehold property is £350. For Portslade 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 required to supply answers.

Portslade Conveyancing for Leasehold Flats - Sample of Questions you should ask before Purchasing

The best form of lease structure is a share of the freehold. In this arrangement the tenants benefit from control and although a managing agent is usually retained where it is larger than a house conversion, the managing agent is directed by the tenants. It would be prudent to investigate if the the lease contains any adverse restrictions in the lease. For example plenty of leases prohibit pets being permitted in in a block in Portslade. If you like the propertyin Portslade however your cat is not allowed to live with you then you will be faced hard compromise. You should be aware if it is less than 80 years it will impact the marketability of the apartment. It is worth checking with your bank that they are willing to lend given the lease term. A short lease means that you will probably require a lease extension sooner rather than later and it is worth finding out what this will be. For most Portsladelease extensions you would need to own the premises for 24 months in order to be eligible to carry out a lease extension.

Other Topics

Lease Extensions in Portslade