Frequently asked questions relating to St Leonards On Sea leasehold conveyancing
I am in need of some leasehold conveyancing in St Leonards On Sea. Before I get started I require certainty as to the unexpired term of the lease.
If the lease is registered - and 99.9% are in St Leonards On Sea - 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.
Estate agents have just been given the go-ahead to market my garden apartment in St Leonards On Sea.Conveyancing has not commenced but I have just had a half-yearly maintenance charge invoice – Do I pay up?
The sensible thing to do is discharge the service charge 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.
I today plan to offer on a house that seems to be perfect, at a reasonable figure which is making it more attractive. I have since 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 St Leonards On Sea. Conveyancing advisers have not yet been appointed. Will they explain the issues?
The majority of houses in St Leonards On Sea are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. We note that you are purchasing in St Leonards On Sea so you should seriously consider looking for a St Leonards On Sea conveyancing solicitor and check that they have experience in dealing with leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’sconsent to carry out changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the house is located on an estate. Your lawyer will advise you fully on all the issues.
Can you offer any advice when it comes to choosing a St Leonards On Sea conveyancing firm to deal with our lease extension?
If you are instructing a solicitor for your lease extension (regardless if they are a St Leonards On Sea conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with several firms including non St Leonards On Sea conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:
- How many lease extensions have they conducted in St Leonards On Sea in the last year?
What makes a St Leonards On Sea lease unmortgageable?
There is nothing unique about leasehold conveyancing in St Leonards On Sea. Most leases is drafted differently and drafting errors can sometimes mean that certain provisions are missing. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain parts of the premises
- A duty to insure the building
- A provision for the recovery of money spent for the benefit of another party.
- Service charge per centages that don't add up correctly leaving a shortfall
A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Santander, Virgin Money, and Britannia all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, obliging the buyer to withdraw.
I bought a 1st floor flat in St Leonards On Sea, conveyancing having been completed in 2002. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in St Leonards On Sea with over 90 years remaining are worth £196,000. The ground rent is £50 invoiced every year. The lease ends on 21st October 2086
With 65 years remaining on your lease the likely cost is going to range between £14,300 and £16,400 plus professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of detailed investigations. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.