Fixed-fee leasehold conveyancing in Seaton:

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

Examples of recent questions relating to leasehold conveyancing in Seaton

Due to complete next month on a garden flat in Seaton. Conveyancing lawyers have said that they report fully within the next couple of days. What should I be looking out for?

Your report on title for your leasehold conveyancing in Seaton should include some of the following:

  • The unexpired lease term You should be advised as what happens when the lease ends, and informed of the importance of not letting the lease term falling below eighty years
  • Does the lease prohibit wood flooring?
  • Are you allowed to have a pet in the flat?
  • Whether the lease restricts you from subletting the flat, or working from home
  • Changes to the flat (alterations and additions)
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice? For details of the information to be included in your report on your leasehold property in Seaton please ask your lawyer in advance of your conveyancing in Seaton

    • I am attracted to a two flats in Seaton which have about forty five years left on the leases. should I be concerned?

    There is no doubt about it. A leasehold flat in Seaton is a wasting asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it reduces the marketability of the property. The majority of purchasers and mortgage companies, leases with under 75 years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises 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 a residence 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 Seaton 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 the agreed 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.

    What advice can you give us when it comes to choosing a Seaton conveyancing firm to deal with our lease extension?

    If you are instructing a property lawyer for lease extension works (regardless if they are a Seaton conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We advise that you talk with two or three firms including non Seaton conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be useful:

    • How familiar is the practice with lease extension legislation?
  • What are the costs for lease extension conveyancing?

    • Can you provide any advice for leasehold conveyancing in Seaton from the point of view of expediting the sale process?

    • Much of the frustration in leasehold conveyancing in Seaton can be bypassed where you instruct lawyers as soon as you market your property and request that they start to collate the leasehold information which will be required by the buyers lawyers.
    • The majority landlords or managing agents in Seaton levy fees for providing management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management pack sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Seaton.
  • In the event that you altered the property did you need the Landlord’s consent? In particular have you laid down wooden flooring? Most leases in Seaton state that internal structural alterations or addition of wooden flooring require a licence from the Landlord consenting to such changes. Where you fail to have the approvals to hand do not communicate with the landlord without contacting your lawyer in the first instance.
  • If you have had conflict with your landlord or managing agents it is very important that these are settled before the property is marketed. The buyers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You will have to accept that you will have to 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 will still have to reveal details of the dispute to the buyers, but it is clearly preferable to present the dispute as over rather than unsettled.
  • If you have the benefit of shareholding in the Management Company, you should ensure that you have the original share certificate. Obtaining a new share certificate can be a lengthy process and frustrates many a Seaton home move. If a new share certificate is needed, do contact the company director and secretary or managing agents (if relevant) for this as soon as possible.

    • What are the frequently found deficiencies that you come across in leases for Seaton properties?

    Leasehold conveyancing in Seaton is not unique. Most leases are individual and legal mistakes in the legal wording can result in certain clauses are missing. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain elements of the premises
    • A duty to insure the building
    • A provision for the recovery of money spent for the benefit of another party.
    • Maintenance charge proportions which don’t add up to the correct percentage

    A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, The Royal Bank of Scotland, and Clydesdale all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, forcing the buyer to pull out.

    Seaton Conveyancing for Leasehold Flats - Examples of Queries Prior to buying

      Who are the managing agents? The answer will be helpful as a) areas can cause problems for the building as the communal areas may start to deteriorate if maintenance are not paid for b) if the tenants have an issue with the managing agents you will wish to know about it Many Seaton leasehold apartments will have a service bill for maintenance of the block set on behalf of the freeholder. Where you purchase the apartment you will have to pay this liability, usually quarterly accross the year. This can differ from a couple of hundred pounds to thousands of pounds for bigger purpose-built blocks. In all probability there will be a ground rent for you to pay annual, this is usually not a significant figure, say about £50-£100 but you need to enquire as sometimes it can be surprisingly expensive.

    Other Topics

    Lease Extensions in Seaton