I have just appointed agents to market my basement flat in Shoreham By Sea.Conveyancing is yet to be initiated but I have just received a half-yearly service charge demand – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should pay 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. Having a clear account will assist your cause and will leave you no worse off financially.

I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a reasonable price which is making it more attractive. I have subsequently discovered that the title is leasehold rather than freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Shoreham By Sea. Conveyancing solicitors have are soon to be instructed. Will they explain the issues?

Most houses in Shoreham By Sea are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are buying in Shoreham By Sea so you should seriously consider shopping around for a Shoreham By Sea conveyancing solicitor and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as requiring the landlord’spermission to carry out changes to the property. You may also be required to pay a contribution towards the maintenance of the estate where the house is part of an estate. Your solicitor will appraise you on the various issues.

Do you have any top tips for leasehold conveyancing in Shoreham By Sea from the perspective of saving time on the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Shoreham By Sea can be reduced if you instruct lawyers the minute you market your property and ask them to put together the leasehold information needed by the buyers representatives.
• The majority freeholders or managing agents in Shoreham By Sea levy fees for providing management packs for a leasehold property. 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 obtain the necessary information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Shoreham By Sea.

Some Shoreham By Sea leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers obtain financial (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 purchasers or their solicitors.

If you hold a share in a the Management Company, you should ensure that you are holding the original share certificate. Organising a duplicate share certificate is often a lengthy process and delays many a Shoreham By Sea home move. If a reissued share certificate is needed, do contact the company director and secretary or managing agents (if applicable) for this as soon as possible.

You may think that you are aware of the number of years left on your lease but it would be wise to double-check via your lawyers. A buyer’s lawyer will be unlikely to recommend their client to where the remaining number of years is less than 80 years. It is therefore important at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

All being well we will complete the disposal of our £425000 flat in Shoreham By Sea next week. The managing agents has quoted £408 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Shoreham By Sea?

For most leasehold sales in Shoreham By Sea conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Answering pre-contract enquiries
• Where consent is required before sale in Shoreham By Sea
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Shoreham By Sea leasehold premises is £350. For Shoreham By Sea conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to supply the information.

What makes a Shoreham By Sea lease unmortgageable?

There is nothing unique about leasehold conveyancing in Shoreham By Sea. All leases is drafted differently and legal mistakes in the legal wording can result in certain sections are not included. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts of the building
• 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

You may have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Santander, Norwich and Peterborough Building Society, and Godiva Mortgages Ltd all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, forcing the buyer to withdraw.

Leasehold Conveyancing in Shoreham By Sea - A selection of Queries Prior to buying

Can you inform me if there are any major works anticipated that could increase the maintenance costs? For most Shoreham By Sea leaseholds the cost for major works tend not to be included within maintenance charges, albeit that there some managing agents in Shoreham By Sea require leasehold owners to contribute towards a reserve fund and this is used to offset against larger repairs or maintenance. It is important to be aware whether fixing the lift or some other significant cost is pending that will be shared by the leasehold owners and may well dramatically increase the the service charges or result in a specific invoice.

Other Topics

Lease Extensions in Shoreham By Sea