Leasehold Conveyancing in Seaham - Get a Quote from the leasehold experts approved by your lender

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While any conveyancing practice can theoretically deal with your leasehold conveyancing in Seaham, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Sample questions relating to Seaham leasehold conveyancing

I am hoping to put an offer on a small detached house that appears to be perfect, at a great figure which is making it more attractive. I have just found out that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns buying a leasehold house in Seaham. Conveyancing advisers have not yet been appointed. Will they explain the issues?

The majority of houses in Seaham are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Seaham so you should seriously consider looking for a Seaham conveyancing solicitor and check that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as requiring the landlord’sconsent to carry out changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the house is part of an estate. Your lawyer will advise you fully on all the issues.

I am looking at a couple of maisonettes in Seaham both have in the region of forty five years unexpired on the leases. should I be concerned?

There are plenty of short leases in Seaham. The lease is a right to use the premises for a period of time. As the lease shortens the saleability of the lease reduces and results in it becoming more costly to acquire a lease extension. For this reason it is advisable to extend the lease term. Sometimes it is difficult to sell a property with a short lease because mortgage companies may be unwilling to lend money on such properties. Lease extension can be a protracted process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this area

I've recently bought a leasehold property in Seaham. Do I have any liability for service charges for periods before my ownership?

Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Can you offer any advice when it comes to appointing a Seaham conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a property lawyer for lease extension works (regardless if they are a Seaham conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We recommend that you talk with two or three firms including non Seaham conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:

  • If the firm is not ALEP accredited then why not?
  • What are the charges for lease extension conveyancing?

    • Do you have any advice for leasehold conveyancing in Seaham with the aim of expediting the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Seaham can be reduced where you appoint lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold information needed by the buyers lawyers.
    • The majority landlords or managing agents in Seaham 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 information sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most common cause of delay in leasehold conveyancing in Seaham.
  • If you have carried out any alterations to the residence would they have required Landlord’s consent? Have you, for example laid down wooden flooring? Most leases in Seaham state that internal structural alterations or installing wooden flooring require a licence issued by the Landlord approving such changes. Where you dont have the consents in place do not contact the landlord without contacting your lawyer before hand.
  • If you have had any disputes with your freeholder or managing agents it is essential that these are settled prior to the flat being marketed. The buyers and their solicitors will be reluctant to purchase a property where there is a current dispute. You may need to swallow your pride and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is better to present the dispute as historic rather than unresolved.
  • You believe that you know the number of years left on your lease but it would be wise to double-check by asking your lawyers. A buyer’s lawyer will be unlikely to recommend their client to where the lease term is below 80 years. It is therefore important at an early stage that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • Seaham Conveyancing for Leasehold Flats - Sample of Queries before Purchasing

      What restrictions are there in the Seaham Lease? In the main the outlay for major works are not wrapped into the service charges, albeit that a few managing agents in Seaham obliged tenants to contribute towards a sinking fund created for the specific intention of building a fund for larger works. Be sure to enquire if there is anything that is prohibited in the lease. For instance some leases prohibit pets being permitted in certain buildings in Seaham. If you love the apartmentin Seaham however your cat can’t live with you then you have a very hard determination.

    Other Topics

    Lease Extensions in Seaham