Estate agents have just been given the go-ahead to market my garden flat in St Leonards On Sea.Conveyancing solicitors are to be appointed soon but I have just had a yearly maintenance charge invoice – what should I do?

Your conveyancing lawyer is likely to suggest that you should 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 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.

I am tempted by the attractive purchase price for a two apartments in St Leonards On Sea both have approximately fifty years left on the leases. should I be concerned?

There is no doubt about it. A leasehold apartment in St Leonards On Sea is a wasting asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it adversely affects the marketability of the premises. The majority of purchasers and lenders, leases with under 75 years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with St Leonards On Sea conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

I've recently bought a leasehold property in St Leonards On Sea. Am I liable to pay service charges relating to a period prior to completion of my purchase?

In a situation 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. It is an essential part of leasehold conveyancing for your conveyancer to ensure 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).

Can you provide any top tips for leasehold conveyancing in St Leonards On Sea from the perspective of expediting the sale process?

• A significant proportion of the delay in leasehold conveyancing in St Leonards On Sea can be reduced if you appoint lawyers as soon as your agents start advertising the property and ask them to collate the leasehold information needed by the buyers conveyancers.
• Many freeholders or Management Companies in St Leonards On Sea charge for providing management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. 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 reason for delay in leasehold conveyancing in St Leonards On Sea.
• If there is a history of any disputes with your freeholder or managing agents it is essential 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 pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is better to present the dispute as historic as opposed to unsettled.
• If you are supposed to have a share in the Management Company, you should ensure that you have the original share certificate. Organising a duplicate share certificate is often a lengthy process and slows down many a St Leonards On Sea conveyancing transaction. Where a reissued share certificate is necessary, do contact the company director and secretary or managing agents (if relevant) 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 wise to double-check via your conveyancers. A purchaser's conveyancer will be unlikely to recommend their client to where the remaining number of years is under 75 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.

In relation to leasehold conveyancing in St Leonards On Sea what are the most frequent lease defects?

There is nothing unique about leasehold conveyancing in St Leonards On Sea. Most leases are unique and drafting errors can sometimes mean that certain sections are missing. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain elements of the premises
• Insurance obligations
• 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 can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, The Royal Bank of Scotland, and TSB 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 grant the mortgage, forcing the buyer to pull out.

St Leonards On Sea Leasehold Conveyancing - A selection of Questions you should consider before buying

Be sure to find out if there are any onerous restrictions in the lease. For example it is very common in St Leonards On Sea leases that pets are not permitted in certain buildings in St Leonards On Sea. If you love the flatin St Leonards On Sea but your dog is not allowed to live with you then you will be faced hard choice. The best form of lease arrangement is if the freehold interest is in the ownership of the leaseholders. In this arrangement the lessees have control and although a managing agent is often retained if it is larger than a house conversion, the managing agent is directed by the tenants.