Guaranteed fixed fees for Leasehold Conveyancing in St Leonards On Sea

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Top Five Questions relating to St Leonards On Sea leasehold conveyancing

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

It best that you 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.

Back In 2003, I bought a leasehold flat in St Leonards On Sea. Conveyancing and Clydesdale mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1998. The conveyancing practitioner in St Leonards On Sea who previously acted has long since retired.Any advice?

First contact the Land Registry to be sure that the individual claiming to own the freehold is in fact the new freeholder. There is no need to instruct a St Leonards On Sea conveyancing solicitor to do this as it can be done on-line for a few pound. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am tempted by the attractive purchase price for a couple of flats in St Leonards On Sea which have approximately fifty years remaining on the lease term. Should I regard a short lease as a deal breaker?

A lease is a right to use the property for a prescribed time frame. As a lease shortens the marketability of the lease decreases and it becomes more expensive to extend the lease. For this reason it is often a good idea to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease because mortgage companies may be reluctant to lend money on such properties. Lease enfranchisement can be a difficult process. We advise that you seek professional help from a conveyancer and surveyor with experience in this arena

Last month I purchased a leasehold flat in St Leonards On Sea. Do I have any liability for service charges relating to a period prior to my ownership?

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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element 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).

Completion in due on the disposal of our £325000 garden flat in St Leonards On Sea in just under a week. The managing agents has quoted £324 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in St Leonards On Sea?

St Leonards On Sea conveyancing on leasehold apartments nine out of ten times necessitates fees being raised by landlords agents :

  • Addressing pre-contract enquiries
  • Where consent is required before sale in St Leonards On Sea
  • Supplying insurance information
  • Deeds of covenant upon sale
  • Registering of the assignment of the change of lessee after a sale
Your lawyer will have no control over the level of the charges for this information but the average costs for the information for St Leonards On Sea leasehold property is £350. For St Leonards On 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 required to provide the information.

I acquired a 1st floor flat in St Leonards On Sea, conveyancing having been completed in 2007. Can you let me have an estimated range of the fair premium for a lease extension? Comparable properties in St Leonards On Sea with over 90 years remaining are worth £215,000. The average or mid-range amount of ground rent is £65 per annum. The lease ceases on 21st October 2098

With 73 years unexpired we estimate the premium for your lease extension to range between £12,400 and £14,200 plus costs.

The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.

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Lease Extensions in St Leonards On Sea