Guaranteed fixed fees for Leasehold Conveyancing in Ringmer

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Common questions relating to Ringmer leasehold conveyancing

I am on look out for some leasehold conveyancing in Ringmer. Before I set the wheels in motion I want to be sure as to the remaining lease term.

Assuming the lease is recorded at the land registry - and almost all are in Ringmer - 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.

Back In 2007, I bought a leasehold house in Ringmer. Conveyancing and Alliance & Leicester mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1998. The conveyancing practitioner in Ringmer who previously acted has long since retired.Any advice?

First contact the Land Registry to make sure that this person is indeed the new freeholder. It is not necessary to incur the fees of a Ringmer 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 landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am employed by a busy estate agency in Ringmer where we have witnessed a number of leasehold sales jeopardised as a result of short leases. I have been given inconsistent advice from local Ringmer conveyancing firms. Can you confirm whether the vendor of a flat can commence the lease extension process for the buyer?

As long as 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. The benefit of this is that the proposed purchaser can avoid having to sit tight for 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 at the same time as completion of the disposal of the property.

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 buyer.

What advice can you give us when it comes to finding a Ringmer conveyancing practice to carry out our lease extension conveyancing?

When appointing a property lawyer for your lease extension (regardless if they are a Ringmer conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We advise that you talk with several firms including non Ringmer conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

  • How many lease extensions have they carried out in Ringmer in the last 12 months?
  • Can they put you in touch with client in Ringmer who can give a testimonial?

    • Do you have any top tips for leasehold conveyancing in Ringmer from the perspective of expediting the sale process?

    • Much of the frustration in leasehold conveyancing in Ringmer can be bypassed if you appoint lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold information which will be required by the purchasers’ solicitors.
    • The majority freeholders or Management Companies in Ringmer levy fees for providing management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management information sought on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Ringmer.
  • In the event that you altered the property did you need the Landlord’s permission? In particular have you laid down wooden flooring? Ringmer leases often stipulate that internal structural changes or addition of wooden flooring require a licence from the Landlord acquiescing to such works. Where you fail to have the approvals to hand do not contact the landlord without checking with your solicitor before hand.
  • If you have had conflict with your freeholder or managing agents it is very important that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You may have to bite the bullet and 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 ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is better to reveal the dispute as historic rather than unresolved.
  • You may think that you are aware of the number of years remaining on your lease but it would be advisable verify this via your lawyers. A purchaser's lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is under 75 years. It is therefore essential at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • I inherited a studio flat in Ringmer, conveyancing having been completed 2003. How much will my lease extension cost? Corresponding flats in Ringmer with an extended lease are worth £253,000. The ground rent is £50 per annum. The lease runs out on 21st October 2083

    With only 58 years remaining on your lease the likely cost is going to range between £22,800 and £26,400 as well as costs.

    The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. You should not use this information in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.

    Other Topics

    Lease Extensions in Ringmer