I today plan to offer on a house that appears to tick a lot of boxes, at a reasonable figure which is making it more attractive. I have just discovered that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Wadhurst. Conveyancing lawyers have not yet been appointed. Will they explain the issues?

Most houses in Wadhurst are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are buying in Wadhurst in which case you should be shopping around for a Wadhurst conveyancing practitioner and check that they are used to dealing with leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example requiring the landlord’spermission to conduct changes to the property. It may be necessary to pay a service charge towards the maintenance of the communal areas where the house is part of an estate. Your lawyer should appraise you on the various issues.

Last month I purchased a leasehold house in Wadhurst. Do I have any liability for 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. 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).

I work for a busy estate agent office in Wadhurst where we have witnessed a few flat sales put at risk due to leases having less than 80 years remaining. I have received inconsistent advice from local Wadhurst conveyancing solicitors. Can you clarify whether the vendor of a flat can commence the lease extension formalities 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 start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.

An alternative approach is 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 Wadhurst with the aim of speeding up the sale process?

• Much of the frustration in leasehold conveyancing in Wadhurst can be bypassed if you instruct lawyers as soon as your agents start advertising the property and ask them to put together the leasehold documentation needed by the buyers solicitors.
• Some Wadhurst leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. The bank reference should make it clear that the buyer is 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 buyers or their solicitors.

Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £375000 apartment in Wadhurst next Monday . The managing agents has quoted £360 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Wadhurst?

Wadhurst conveyancing on leasehold maisonettes normally involves the purchaser’s lawyer submitting enquiries for the landlord to address. Although the landlord is not legally bound to address these enquiries most will be willing to do so. They may invoice a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is over three hundred pounds, in some cases it is in excess of £800. The administration charge required by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration charges, without which the invoice is technically not due. Reality however dictates that one has little choice but to pay whatever is demanded should you wish to exchange contracts with the buyer.

I bought a 1 bedroom flat in Wadhurst, conveyancing having been completed half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Wadhurst with over 90 years remaining are worth £195,000. The ground rent is £50 invoiced every year. The lease ends on 21st October 2099

With just 75 years left to run we estimate the price of your lease extension to be between £10,500 and £12,000 as well as plus your own and the landlord's "reasonable" professional fees.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.

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Lease Extensions in Wadhurst