Experts for Leasehold Conveyancing in Eastbourne

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When it comes to leasehold conveyancing in Eastbourne, you will need to instruct a conveyancing solicitor with leasehold experience. Whether your mortgage company is to be Lloyds, Yorkshire Building Society or Bradford & Bingley be sure to find a lawyer on their panel. Feel free to use our search tool

Top Five Questions relating to Eastbourne leasehold conveyancing

I only have Sixty One years unexpired on my flat in Eastbourne. I now want to extend my lease but my freeholder is absent. What options are available to me?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. However, you will be required to demonstrate that you or your lawyers have used your best endeavours to track down the freeholder. In some cases a specialist would be helpful to conduct investigations and to produce an expert document to be accepted by the court as proof that the landlord is indeed missing. It is wise to seek advice from a solicitor both on devolving into the landlord’s absence and the application to the County Court covering Eastbourne.

I have just started marketing my 2 bed apartment in Eastbourne.Conveyancing is yet to be initiated but I have just received a half-yearly maintenance charge invoice – 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 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. Having a clear account will assist your cause and will leave you no worse off financially.

I am tempted by the attractive purchase price for a two apartments in Eastbourne which have in the region of fifty years unexpired on the leases. Will this present a problem?

A lease is a legal document that entitles you to use the property for a period of time. As the lease shortens the value of the lease deteriorate and it becomes more costly to acquire a lease extension. For this reason it is advisable to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease extension can be a difficult process. We recommend you seek professional help from a conveyancer and surveyor with experience in this field

I am a negotiator for a reputable estate agent office in Eastbourne where we have experienced a few flat sales derailed due to short leases. I have received inconsistent advice from local Eastbourne conveyancing firms. Please can you clarify whether the seller of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.

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.

Do you have any top tips for leasehold conveyancing in Eastbourne with the aim of speeding up the sale process?

  • Much of the delay in leasehold conveyancing in Eastbourne can be reduced if you get in touch lawyers the minute your agents start marketing the property and ask them to put together the leasehold documentation needed by the purchasers’ representatives.
  • Some Eastbourne leases require Landlord’s consent to the sale and approval of the buyers. 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 financial (bank) and professional references. The bank reference will need to confirm that the buyers are 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 actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers.
  • If you have had any disputes with your freeholder or managing agents it is essential that these are settled before the property is marketed. The buyers and their solicitors will be warry about purchasing a property where there is a current dispute. You may need to swallow your pride and discharge any arrears of service charge or resolve 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 clearly preferable to present the dispute as historic rather than ongoing.
  • If you are supposed to have a share in the freehold, you should ensure that you are holding the original share document. Arranging a replacement share certificate can be a lengthy formality and slows down many a Eastbourne home move. If a new share is necessary, do contact the company officers or managing agents (if applicable) for this sooner rather than later.
  • You believe that you know the number of years left on your lease but you should double-check via your lawyers. A buyer’s lawyer will not be happy to advise their client to to exchange contracts if the lease term is under 75 years. In the circumstances it is important at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • Leasehold Conveyancing in Eastbourne - Examples of Questions you should ask Prior to buying

      It is important to be aware whether fixing the lift or some other significant cost is due in the near future that will be shared by the leaseholders and will dramatically impact the level of the service charges or result in a one off payment. Please tell me if there are any major works in the near future that will likely add a premium to the maintenance costs? Is the freehold reversion owned collectively by the leaseholders?

    Other Topics

    Lease Extensions in Eastbourne