Fixed-fee leasehold conveyancing in Rye:

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Any conveyancing practice can theoretically deal with your leasehold conveyancing in Rye, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Questions and Answers: Rye leasehold conveyancing

Looking forward to exchange soon on a leasehold property in Rye. Conveyancing solicitors inform me that they report fully on Monday. What should I be looking out for?

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

  • The physical extent of the property. This will be the apartment itself but could also incorporate a roof space or basement if applicable.
  • Whether the lease restricts you from renting out the property, or working from home
  • You should be told what constitutes a Nuisance in the lease
  • Whether your lease has a provision for a sinking fund?
  • You should have a good understanding of the insurance provisions
  • 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 For details of the information to be included in your report on your leasehold property in Rye please ask your conveyancer in ahead of your conveyancing in Rye

    • Back In 2004, I bought a leasehold flat in Rye. Conveyancing and Chelsea Building Society mortgage are in place. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1992. The conveyancing solicitor in Rye who acted for me is not around.Any advice?

    First contact the Land Registry to make sure that the individual claiming to own the freehold is in fact the new freeholder. It is not necessary to instruct a Rye conveyancing firm to do this as it can be done on-line for a few pound. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

    I've recently bought a leasehold property in Rye. Do I have any liability for service charges for periods before completion of my purchase?

    In a situation where the service charge has already been demanded from the previous owner 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 be sure 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).

    I am employed by a reputable estate agency in Rye where we have experienced a number of leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Rye conveyancing firms. Could you shed some light as to whether the owner of a flat can start 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 buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.

    An alternative approach is to extend the lease informally by agreement with the landlord 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 appointing a Rye conveyancing practice to carry out our lease extension conveyancing?

    If you are instructing a solicitor for lease extension works (regardless if they are a Rye conveyancing practice) 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 Rye conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be helpful:

    • How many lease extensions has the firm completed in Rye in the last 12 months?
  • Can they put you in touch with client in Rye who can give a testimonial?

    • Leasehold Conveyancing in Rye - Sample of Queries before Purchasing

      How much is the annual maintenance fee and ground rent? Best to be warned if a new roof is being installed or some other significant cost is due in the near future that will be shared by the tenants and will materially impact the level of the maintenance costs or necessitate a specific invoice. The prefered form of lease arrangement is if the freehold interest is in the ownership of the leaseholders. In this scenario the leaseholders enjoy being in charge if their destiny and notwithstanding that a managing agent is often retained if it is bigger than a house conversion, the managing agent is directed by the tenants.

    Other Topics

    Lease Extensions in Rye