Looking forward to exchange soon on a garden flat in Seaton. Conveyancing solicitors 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:

• Defining your rights in respect of the communal areas in the block.By way of example, does the lease provide for a right of way over an accessway or hallways?
• Do you need to have carpet in the flat or are you allowed wood flooring?
• Will you be prohibited or prevented from having pets in the property?
• An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
• Repair and maintenance of the flat
• The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building

I today plan to offer on a house that appears to meet my requirements, at a great figure which is making it all the more appealing. I have since discovered that it's a leasehold rather than freehold. I am assuming that there are issues buying a house with a leasehold title in Seaton. Conveyancing lawyers have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in Seaton ?

Most houses in Seaton are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. it is apparent that you are buying in Seaton in which case you should be shopping around for a Seaton conveyancing solicitor and check that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as obtaining the freeholder’sconsent to carry out alterations. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the property is part of an estate. Your solicitor should advise you fully on all the issues.

I own a leasehold house in Seaton. Conveyancing and Aldermore mortgage went though with no issue. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1996. The conveyancing solicitor in Seaton who previously acted has now retired.Any advice?

The first thing you should do is contact HMLR to make sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. There is no need to incur the fees of a Seaton conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am tempted by the attractive purchase price for a two maisonettes in Seaton both have about 50 years unexpired on the lease term. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold apartment in Seaton is a wasting asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it reduces the value of the property. The majority of purchasers and banks, leases with under eighty years become less and less attractive. 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 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 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 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 You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. 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.

Do you have any advice for leasehold conveyancing in Seaton from the perspective of expediting the sale process?

• Much of the frustration in leasehold conveyancing in Seaton can be reduced if you instruct lawyers the minute you market your property and ask them to put together the leasehold information which will be required by the buyers representatives.
• Many landlords or managing agents in Seaton levy fees for supplying management packs for a leasehold homes. You or your lawyers should enquire as to the fee that they propose to charge. The management information sought on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Seaton.
• Some Seaton leases require Licence to Assign from the landlord. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers obtain bank and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
• If you have had any disputes with your landlord or managing agents it is essential that these are settled before the property is marketed. The buyers and their solicitors will be nervous about purchasing a property where there is a current dispute. You will have to accept that you will have to discharge 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 purchasers, but it is clearly preferable to reveal the dispute as historic rather than ongoing.
• If you hold a share in a the Management Company, you should ensure that you are holding the original share certificate. Obtaining a re-issued share certificate is often a time consuming process and slows down many a Seaton conveyancing deal. Where a duplicate share is necessary, you should approach the company officers or managing agents (where applicable) for this at the earliest opportunity.

Seaton Leasehold Conveyancing - Examples of Questions you should ask Prior to Purchasing

It is important to be aware whether redecorating or some other significant cost is due shortly that will be shared between the tenants and will materially impact the level of the maintenance charges or require a specific payment. Is anyone aware of any major works in the planning that could add a premium to the service costs?