Frequently asked questions relating to Seaford leasehold conveyancing
I only have Fifty years unexpired on my flat in Seaford. I now wish to extend my lease but my landlord is missing. What are my options?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. However, you will be required to demonstrate that you have done all that could be expected to track down the freeholder. On the whole a specialist may be helpful to try and locate and prepare a report to be used as evidence that the freeholder is indeed missing. It is advisable to get professional help from a conveyancer in relation to devolving into the landlord’s absence and the application to the County Court covering Seaford.
I am hoping to sign contracts shortly on a basement flat in Seaford. Conveyancing lawyers assured me that they will have a report out to me tomorrow. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Seaford should include some of the following:
- Setting out your legal entitlements in respect of the communal areas in the block.For instance, does the lease permit a right of way over a path or hallways?
Estate agents have just been given the go-ahead to market my garden apartment in Seaford.Conveyancing has not commenced but I have just had a half-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. This will smooth the conveyancing process.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £200000 maisonette in Seaford on Friday in a week. The managing agents has quoted £312 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Seaford?
For most leasehold sales in Seaford conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Addressing pre-exchange questions
- Where consent is required before sale in Seaford
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
What makes a Seaford lease unmortgageable?
Leasehold conveyancing in Seaford is not unique. All leases are unique and drafting errors can sometimes mean that certain clauses are missing. 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 property
- A duty to insure the building
- 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. Barclays , Skipton Building Society, and Alliance & Leicester all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, obliging the buyer to pull out.
I invested in buying a garden flat in Seaford, conveyancing formalities finalised 10 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable properties in Seaford with an extended lease are worth £174,000. The ground rent is £55 yearly. The lease comes to an end on 21st October 2086
With just 65 years left to run the likely cost is going to be between £14,300 and £16,400 plus legals.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.