Common questions relating to Saltdean leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Saltdean. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.
If the lease is registered - and almost all are in Saltdean - then the leasehold title will always include the short particulars 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've found a house that appears to be perfect, at a great figure which is making it all the more appealing. I have since discovered that it's a leasehold rather than freehold. I would have thought that there are issues buying a leasehold house in Saltdean. Conveyancing lawyers have not yet been appointed. Will they explain the issues?
Most houses in Saltdean are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Saltdean in which case you should be shopping around for a Saltdean conveyancing solicitor and check that they have experience in dealing with leasehold houses. First you will need to check the number of years remaining. As a tenant you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’spermission to carry out changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the estate where the house is part of an estate. Your lawyer will appraise you on the various issues.
Back In 2007, I bought a leasehold flat in Saltdean. Conveyancing and Virgin Money mortgage are in place. I have received a letter from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1994. The conveyancing solicitor in Saltdean who acted for me is not around.Do I pay?
The first thing you should do is contact the Land Registry to be sure that this person is in fact the new freeholder. There is no need to instruct a Saltdean conveyancing solicitor to do this as you can do this on the Land Registry website for £3. 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 work for a long established estate agent office in Saltdean where we have witnessed a number of flat sales put at risk as a result of short leases. I have been given contradictory information from local Saltdean conveyancing firms. Could you clarify whether the seller of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start 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 to extend their lease. 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.
Alternatively, it may be possible 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 purchaser.
Completion in due on our sale of a £275000 garden flat in Saltdean on Wednesday in a week. The landlords agents has quoted £324 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Saltdean?
For the majority of leasehold sales in Saltdean conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Completing pre-contract questions
- Where consent is required before sale in Saltdean
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Saltdean Leasehold Conveyancing - Sample of Questions you should consider before Purchasing
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What is the length of the lease?
If a Saltdean lease has less than 80 years it will impact the salability of the flat. It is worth checking with your lender that they are happy with residual term of the lease. A short lease means that you will almost definitely need a lease extension sooner rather than later and it is worth finding out what this would cost. For most Saltdeanlease extensions you will need to own the premises for two years before you are legally able to extend the lease.
How many of the leaseholders are in arrears for their maintenance charge payments?
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