Fixed-fee leasehold conveyancing in Saltdean:

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

Saltdean leasehold conveyancing: Q and A’s

I only have Sixty One years left on my lease in Saltdean. I now wish to get lease extension but my landlord is absent. What are my options?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to track down the landlord. For most situations an enquiry agent should be helpful to conduct investigations and to produce a report which can be used as evidence that the landlord can not be located. It is wise to seek advice from a solicitor both on investigating the landlord’s disappearance and the application to the County Court covering Saltdean.

Estate agents have just been given the go-ahead to market my ground floor flat in Saltdean.Conveyancing has not commenced but I have just received a quarterly service charge invoice – should I leave it to the buyer to sort out?

The sensible thing to do is discharge the invoice 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 management companies will not acknowledge the buyer until 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.

I am looking at a two apartments in Saltdean both have approximately 50 years left on the leases. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold apartment in Saltdean is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it adversely affects the marketability of the premises. For most buyers and mortgage companies, leases with less than eighty years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Saltdean conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Can you provide any advice for leasehold conveyancing in Saltdean with the aim of expediting the sale process?

  • Much of the delay in leasehold conveyancing in Saltdean can be bypassed where you get in touch lawyers the minute your agents start advertising the property and ask them to collate the leasehold documentation which will be required by the buyers representatives.
  • Many landlords or managing agents in Saltdean charge for providing management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management pack 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 common cause of frustration in leasehold conveyancing in Saltdean.
  • In the event that you altered the property did you need the Landlord’s permission? In particular have you laid down wooden flooring? Saltdean leases often stipulate that internal structural changes or installing wooden flooring necessitate a licence from the Landlord consenting to such alterations. Where you fail to have the approvals to hand do not contact the landlord without checking with your solicitor in advance.
  • If you have the benefit of shareholding in the freehold, you should ensure that you hold the original share document. Obtaining a duplicate share certificate is often a time consuming process and slows down many a Saltdean home move. Where a duplicate share certificate is required, you should approach the company officers or managing agents (if relevant) for this sooner rather than later.
  • You may think that you are aware of the number of years remaining on your lease but it would be advisable verify this by asking your solicitors. A buyer’s conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is below 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.

    • When it comes to leasehold conveyancing in Saltdean what are the most common lease defects?

    Leasehold conveyancing in Saltdean is not unique. All leases are unique and legal mistakes in the legal wording can sometimes mean that certain clauses are wrong. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain elements 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 can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Norwich and Peterborough Building Society, and Clydesdale 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, forcing the purchaser to withdraw.

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

      Plenty Saltdean leasehold apartments will have a service bill for maintenance of the building set by the landlord. If you acquire the flat you will have to pay this liability, normally in instalments throughout the year. This could differ from several hundred pounds to thousands of pounds for blocks with lifts and large common areas. In all probability there will be a rentcharge for you to pay annual, this is usually not a exorbitant amount, say around £25-£75 but you need to check it because occasionally it could be many hundreds of pounds. Who manages the block? Are there any major works in the near future that could add a premium to the service fees?

    Other Topics

    Lease Extensions in Saltdean