Leasehold Conveyancing in Southend On Sea - Get a Quote from the leasehold experts approved by your lender

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Recently asked questions relating to Southend On Sea leasehold conveyancing

I have just appointed agents to market my garden apartment in Southend On Sea.Conveyancing has not commenced but I have just received a half-yearly service charge demand – Do I pay up?

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.

Last month I purchased a leasehold property in Southend On Sea. Am I liable to pay service charges relating to a period prior to completion of my purchase?

Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

I am employed by a reputable estate agent office in Southend On Sea where we have experienced a number of leasehold sales jeopardised due to leases having less than 80 years remaining. I have received contradictory information from local Southend On Sea conveyancing firms. Can you confirm whether the vendor of a flat can start the lease extension process for the purchaser on completion of the sale?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.

Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

Can you provide any advice for leasehold conveyancing in Southend On Sea from the point of view of saving time on the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Southend On Sea can be bypassed if you instruct lawyers as soon as your agents start advertising the property and ask them to collate the leasehold documentation needed by the buyers solicitors.
  • The majority freeholders or Management Companies in Southend On Sea charge for supplying management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management information can be applied for on or before finding 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 reason for frustration in leasehold conveyancing in Southend On Sea.
  • If you have carried out any alterations to the property would they have required Landlord’s approval? Have you, for example installed wooden flooring? Most leases in Southend On Sea state that internal structural alterations or addition of wooden flooring require a licence from the Landlord approving such works. If you dont have the approvals to hand do not contact the landlord without checking with your solicitor in advance.
  • Some Southend On Sea leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. Any bank reference will need to confirm that the buyers are able to meet 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 actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
  • You may think that you are aware of the number of years remaining on your lease but you should verify this by asking your solicitors. A purchaser's lawyer will be unlikely to recommend their client to where the remaining number of years is under 80 years. It is therefore essential at an early stage that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

    • What are the frequently found defects that you see in leases for Southend On Sea properties?

    Leasehold conveyancing in Southend On Sea is not unique. Most leases are unique and drafting errors can result in certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain elements of the property
    • 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 primarily because it impacts on the ability to obtain a mortgage on the property. Santander, Coventry Building Society, and Nottingham Building Society 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 problematic they may refuse to grant the mortgage, obliging the purchaser to withdraw.

    Southend On Sea Conveyancing for Leasehold Flats - Examples of Questions you should ask Prior to buying

      This information is important as a) areas can cause problems in the block as the communal areas may start to deteriorate where services remain unpaid b) if the tenants have an issue with the managing agents you will wish to know about it Can you tell me if there are any major works anticipated that could increase the maintenance costs? How many of the leaseholders are in arrears for their maintenance charge payments?

    Other Topics

    Lease Extensions in Southend On Sea