Experts for Leasehold Conveyancing in Southbourne

Get a Quote

Leasehold conveyancing in Southbourne is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Southbourne and across next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Frequently asked questions relating to Southbourne leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Southbourne. Before I set the wheels in motion I want to be sure as to the number of years remaining on the lease.

Assuming the lease is registered - and 99.9% are in Southbourne - then the leasehold title will always include the basic details 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.

Due to sign contracts shortly on a basement flat in Southbourne. Conveyancing lawyers have said that they are sending me a report on Monday. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Southbourne should include some of the following:

  • You should receive a copy of the lease
  • Do you need to have carpet in the flat or are you allowed wood flooring?
  • Are you allowed to have a pet in the flat?
  • You should be told what constitutes a Nuisance in the lease
  • 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
  • What options are open to you if a neighbour breach a clause of their lease? For a comprehensive list of information to be included in your report on your leasehold property in Southbourne please enquire of your solicitor in advance of your conveyancing in Southbourne

    • Estate agents have just been given the go-ahead to market my basement flat in Southbourne.Conveyancing is yet to be initiated but I have just had a yearly service charge demand – should I leave it to the buyer to sort out?

    It best that you clear 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 managing agents 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. This will smooth the conveyancing process.

    Do you have any top tips for leasehold conveyancing in Southbourne with the intention of saving time on the sale process?

    • Much of the frustration in leasehold conveyancing in Southbourne can be avoided if you instruct lawyers as soon as you market your property and request that they start to collate the leasehold documentation needed by the buyers conveyancers.
    • Many freeholders or Management Companies in Southbourne charge for providing management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management information sought as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Southbourne.
  • A minority of Southbourne leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference will need to confirm that the buyers are able to meet 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 service charge figures so that they can pass this information on to the purchasers or their lawyers.
  • If you hold a share in a the freehold, you should ensure that you have the original share certificate. Organising a re-issued share certificate is often a time consuming formality and slows down many a Southbourne conveyancing deal. Where a new share is necessary, 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 remaining on your lease but it would be advisable verify this via your lawyers. A buyer’s lawyer will be unlikely to recommend their client to to exchange contracts if the lease term is below 80 years. In the circumstances it is essential at an as soon as possible that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • If all goes to plan we aim to complete the disposal of our £275000 flat in Southbourne in just under a week. The management company has quoted £408 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Southbourne?

    Southbourne conveyancing on leasehold maisonettes often involves the purchaser’s conveyancer sending enquiries for the landlord to address. Although the landlord is not legally bound to answer such questions most will be willing to assist. They are entitled invoice a reasonable charge for answering questions or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is £350, in some situations it exceeds £800. The administration charge required by the landlord must be sent together with a synopsis of entitlements and obligations in relation to administration charges, without which the charge is not strictly payable. In reality one has no choice but to pay whatever is requested of you should you wish to exchange contracts with the buyer.

    I acquired a 1st floor flat in Southbourne, conveyancing having been completed 2010. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Southbourne with an extended lease are worth £239,000. The ground rent is £50 invoiced every year. The lease ceases on 21st October 2089

    With only 64 years remaining on your lease the likely cost is going to range between £20,000 and £23,000 as well as legals.

    The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Southbourne