Leasehold Conveyancing in Southend - Get a Quote from the leasehold experts approved by your lender

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Any conveyancing practice can theoretically deal with your leasehold conveyancing in Southend, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Southend leasehold conveyancing: Q and A’s

I today plan to offer on a house that appears to tick a lot of boxes, at a reasonable price which is making it more attractive. I have subsequently been informed that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Southend. Conveyancing advisers have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Southend ?

The majority of houses in Southend are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. We note that you are buying in Southend so you should seriously consider shopping around for a Southend conveyancing solicitor and be sure that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as obtaining the freeholder’sconsent to conduct alterations. You may also be required to pay a service charge towards the maintenance of the communal areas where the house is located on an estate. Your solicitor will appraise you on the various issues.

I own a leasehold flat in Southend. Conveyancing and Bank of Scotland mortgage went though with no issue. I have received a letter from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1991. The conveyancing practitioner in Southend who acted for me is not around.What should I do?

The first thing you should do is make enquiries of HMLR to be sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. There is no need to instruct a Southend conveyancing firm to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the legitimate freeholder, 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 apartments in Southend both have about 50 years left on the leases. should I be concerned?

There are plenty of short leases in Southend. The lease is a right to use the property for a prescribed time frame. As a lease gets shorter the marketability of the lease deteriorate and it becomes more costly to acquire a lease extension. For this reason it is often a good idea to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease because mortgage companies may be reluctant to lend money on properties of this type. Lease enfranchisement can be a difficult process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this area

I am a negotiator for a long established estate agent office in Southend where we see a few leasehold sales derailed as a result of short leases. I have received inconsistent advice from local Southend conveyancing firms. Could you clarify whether the seller of a flat can instigate the lease extension process for the buyer?

As long as the seller has owned the lease 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 buyer can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.

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 advice for leasehold conveyancing in Southend with the aim of saving time on the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Southend can be avoided where you get in touch lawyers the minute you market your property and ask them to collate the leasehold information which will be required by the purchasers’ representatives.
  • The majority freeholders or Management Companies in Southend charge for providing management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management pack sought on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Southend.
  • In the event that you altered the property did you need the Landlord’s consent? Have you, for example installed wooden flooring? Southend leases often stipulate that internal structural changes or addition of wooden flooring require a licence issued by the Landlord consenting to such alterations. Where you fail to have the approvals to hand you should not communicate with the landlord without contacting your solicitor in the first instance.
  • If you hold a share in a the freehold, you should ensure that you hold the original share document. Arranging a re-issued share certificate is often a time consuming formality and delays many a Southend conveyancing transaction. Where a duplicate share certificate is necessary, you should approach the company officers or managing agents (if applicable) for this as soon as possible.
  • You may think that you are aware of the number of years left on your lease but it would be advisable double-check via your conveyancers. A purchaser's conveyancer will be unlikely to recommend their client to to exchange contracts if the lease term is below 80 years. In the circumstances it is important at an early stage 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.

    • After months of negotiations we are unable to agree with our landlord on how much the lease extension should cost for our flat in Southend. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

    Most definitely. We can put you in touch with a Southend conveyancing firm who can help.

    An example of a Freehold Enfranchisement case for a Southend flat is 75 Woolstone Road in February 2012. the decision of the Tribunal was that the appropriate amount to be paid to purchase the freehold was the sum of £17,711 . This case related to 2 flats. The the unexpired residue of the current lease was 68.28 and 158.