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Questions and Answers: Seaview leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Seaview. Before diving in I require certainty as to the remaining lease term.

If the lease is recorded at the land registry - and almost all are in Seaview - then the leasehold title will always include the short particulars 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.

There are only 72 years remaining on my flat in Seaview. I now wish to extend my lease but my landlord is missing. What are my options?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. You will be obliged to demonstrate that you or your lawyers have made all reasonable attempts to track down the lessor. For most situations an enquiry agent would be helpful to carry out a search and prepare a report to be accepted by the court as evidence that the landlord is indeed missing. It is advisable to get professional help from a conveyancer both on devolving into the landlord’s disappearance and the application to the County Court covering Seaview.

Estate agents have just been given the go-ahead to market my ground floor apartment in Seaview.Conveyancing has not commenced but I have just had a quarterly service charge demand – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should 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 until 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.

Do you have any advice for leasehold conveyancing in Seaview from the point of view of expediting the sale process?

  • Much of the delay in leasehold conveyancing in Seaview can be bypassed if you instruct lawyers the minute your agents start advertising the property and ask them to collate the leasehold documentation needed by the buyers conveyancers.
  • The majority landlords or Management Companies in Seaview levy fees for providing management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for 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 usual cause of delay in leasehold conveyancing in Seaview.
  • Some Seaview leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the annual 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 service charge figures so that they can pass this information on to the buyers or their solicitors.
  • If there is a history of any disputes with your freeholder or managing agents it is very important that these are resolved before the property is marketed. The purchasers and their solicitors will be warry about purchasing a flat where there is an ongoing dispute. You will have to accept that you will have to 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 are still duty bound to disclose details of the dispute to the buyers, but it is clearly preferable to reveal the dispute as over as opposed to unsettled.
  • You may think that you are aware of the number of years remaining on your lease but it would be advisable double-check by asking your lawyers. A purchaser's conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is under 75 years. It is therefore important at an as soon as possible that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • All being well we will complete the sale of our £475000 flat in Seaview in 10 days. The management company has quoted £312 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Seaview?

    Seaview conveyancing on leasehold maisonettes more often than not requires the buyer’s lawyer sending questions for the landlord to address. Although the landlord is not legally bound to answer these enquiries the majority will be willing to do so. They may charge a reasonable administration fee for responding to enquiries or supplying documentation. There is no set fee. The average costs for the information that you are referring to is over three hundred pounds, in some cases it exceeds £800. The administration charge demanded by the landlord must be accompanied by a summary of rights and obligations in respect of administration fees, otherwise the charge is not strictly payable. Reality however dictates that one has no choice but to pay whatever is requested of you should you wish to complete the sale of your home.

    I bought a leasehold flat in Seaview, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Seaview with an extended lease are worth £267,000. The average or mid-range amount of ground rent is £55 yearly. The lease ceases on 21st October 2082

    With only 57 years unexpired we estimate the price of your lease extension to be between £26,600 and £30,800 plus costs.

    The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Seaview