I’m about to sell my ground floor flat in Seaford.Conveyancing lawyers have not yet been instructed but I have just had a yearly service charge invoice – what should I do?

It best that you 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 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.

My wife and I purchased a leasehold house in Seaford. Conveyancing and Nationwide Building Society mortgage are in place. 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 1997. The conveyancing practitioner in Seaford who previously acted has now retired.Do I pay?

First contact the Land Registry to make sure that this person is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Seaford conveyancing firm to do this as you can do this on the Land Registry website for £3. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am looking at a two flats in Seaford both have about forty five years left on the leases. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold apartment in Seaford is a wasting asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it adversely affects the marketability of the premises. The majority of buyers and banks, leases with under 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 property 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 property 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 Seaford 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.

If all goes to plan we aim to complete the disposal of our £150000 maisonette in Seaford on Tuesday in a week. The managing agents has quoted £336 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Seaford?

Seaford conveyancing on leasehold maisonettes normally involves the buyer’s lawyer submitting enquiries for the landlord to address. Although the landlord is not legally bound to address these enquiries the majority will be content to assist. They may levy a reasonable administration fee for answering questions or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is over three hundred pounds, in some situations it exceeds £800. The management information fee invoiced by the landlord must be sent together with a synopsis of rights and obligations in relation to administration fees, without which the invoice is technically not due. In reality you have no option but to pay whatever is requested of you should you wish to sell the property.

Are there frequently found problems that you see in leases for Seaford properties?

There is nothing unique about leasehold conveyancing in Seaford. All leases are individual and drafting errors can sometimes mean that certain clauses are erroneous. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain parts of the building
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Accord Mortgages Ltd, The Mortgage Works, and Aldermore 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 does not cover certain provisions they may refuse to provide security, obliging the buyer to withdraw.

Leasehold Conveyancing in Seaford - Sample of Queries before Purchasing

Where a Seaford lease has less than 80 years it will impact the value of the property. It is worth checking with your mortgage company that they are content with the length of the lease. Leases with less than 80 years remaining means that you will almost definitely have to extend the lease at some point and you need to have some idea of what this will be. Remember, in most cases you would need to own the property for 24 months in order to be entitled to extend the lease. This question is important as a) areas could result in problems for the block as the common areas may begin to deteriorate where services remain unpaid b) if the tenants have an issue with the running of the building you will wish to have all the details Is there a share of the freehold?

Other Topics

Lease Extensions in Seaford