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Common questions relating to Seaford leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Seaford. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.

If the lease is registered - and almost all are in Seaford - 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.

I work for a busy estate agent office in Seaford where we have experienced a number of flat sales put at risk due to short leases. I have been given inconsistent advice from local Seaford conveyancing firms. Please can you confirm whether the owner of a flat can start the lease extension process for the purchaser on completion of the sale?

Provided that 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 sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.

An alternative approach is 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 appointing a Seaford conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a property lawyer for your lease extension (regardless if they are a Seaford conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with several firms including non Seaford conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be helpful:

  • How many lease extensions have they completed in Seaford in the last twenty four months?
  • Can they put you in touch with client in Seaford who can give a testimonial?

    • Do you have any top tips for leasehold conveyancing in Seaford with the aim of saving time on the sale process?

    • Much of the delay in leasehold conveyancing in Seaford can be reduced if you appoint lawyers the minute your agents start marketing the property and request that they start to put together the leasehold information needed by the buyers representatives.
    • The majority freeholders or Management Companies in Seaford levy fees for supplying management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Seaford.
  • If you have carried out any alterations to the property would they have required Landlord’s permission? Have you, for example laid down wooden flooring? Most leases in Seaford state that internal structural alterations or installing wooden flooring calls for a licence issued by the Landlord consenting to such alterations. Where you dont have the consents to hand you should not contact the landlord without contacting your conveyancer in the first instance.
  • If you have had any disputes with your landlord or managing agents it is very important that these are resolved before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You may have to bite the bullet and discharge any arrears of service charge or resolve 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 will still have to reveal details of the dispute to the buyers, but it is clearly preferable to reveal the dispute as historic as opposed to ongoing.
  • If you are supposed to have a share in the freehold, you should make sure that you are holding the original share document. Organising a replacement share certificate is often a lengthy process and frustrates many a Seaford home move. Where a duplicate share is necessary, do contact the company officers or managing agents (where relevant) for this at the earliest opportunity.

    • What makes a Seaford lease defective?

    Leasehold conveyancing in Seaford is not unique. Most leases are unique and drafting errors can result in certain clauses are wrong. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain parts of the property
    • A duty to insure the building
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Maintenance charge proportions which don’t add up to the correct percentage

    A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Lloyds TSB Bank, The Mortgage Works, and Godiva Mortgages Ltd 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, obliging the buyer to withdraw.

    I acquired a 2 bed flat in Seaford, conveyancing was carried out 8 years ago. Can you work out an approximate cost of a lease extension? Corresponding flats in Seaford with over 90 years remaining are worth £222,000. The ground rent is £65 per annum. The lease ends on 21st October 2078

    With 54 years remaining on your lease we estimate the premium for your lease extension to range between £28,500 and £33,000 as well as legals.

    The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more detailed due diligence. You should not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Seaford