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Questions and Answers: Rye leasehold conveyancing

Due to complete next month on a basement flat in Rye. Conveyancing solicitors assured me that they will have a report out to me on Monday. What should I be looking out for?

The report on title for your leasehold conveyancing in Rye should include some of the following:

  • Defining your rights in respect of the communal areas in the building.By way of example, does the lease contain a right of way over a path or staircase?
  • Are pets allowed in the flat?
  • You should be told what constitutes a Nuisance in the lease
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • Responsibility for repairing the window frames
  • What you can do if a neighbour is in violation of a provision in their lease?
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be contained in your report on your leasehold property in Rye please enquire of your lawyer in advance of your conveyancing in Rye

    • Back In 2002, I bought a leasehold flat in Rye. Conveyancing and Nationwide Building Society mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1993. The conveyancing practitioner in Rye who previously acted has now retired.Do I pay?

    First make enquiries of HMLR to be sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Rye conveyancing lawyer to do this as it can be done on-line for £3. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

    Last month I purchased a leasehold flat in Rye. Am I liable to pay service charges relating to a period prior to my ownership?

    In a situation where the service charge has already been demanded from the previous lessee 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 be sure 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 offer any advice when it comes to appointing a Rye conveyancing firm to deal with our lease extension?

    When appointing a solicitor for your lease extension (regardless if they are a Rye conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with two or three firms including non Rye conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

    • How many lease extensions has the firm conducted in Rye in the last year?
  • What are the charges for lease extension conveyancing?

    • Can you provide any top tips for leasehold conveyancing in Rye with the purpose of expediting the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Rye can be bypassed if you get in touch lawyers the minute you market your property and ask them to put together the leasehold documentation which will be required by the buyers solicitors.
    • In the event that you altered the property did you need the Landlord’s consent? Have you, for example installed wooden flooring? Rye leases often stipulate that internal structural changes or laying down wooden flooring require a licence issued by the Landlord acquiescing to such alterations. Should you dont have the paperwork in place you should not contact the landlord without contacting your solicitor first.
  • Some Rye leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. The bank reference should make it clear that the buyer is financially capable of paying the annual 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 purchasers or their lawyers.
  • If you hold a share in a the freehold, you should make sure that you are holding the original share document. Arranging a new share certificate is often a time consuming formality and slows down many a Rye conveyancing transaction. Where a new share certificate is needed, do contact the company officers or managing agents (if relevant) for this at the earliest opportunity.
  • You may think that you are aware of the number of years remaining on your lease but it would be advisable verify this via your solicitors. A buyer’s conveyancer will be unlikely to recommend their client to to exchange contracts if the lease term is less than 80 years. It is therefore essential at an early stage that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • Rye Conveyancing for Leasehold Flats - Sample of Queries Prior to buying

      If a Rye lease has less than eighty years it will affect the salability of the property. Check with your bank that they are willing to go ahead with the loan given the lease term. A short lease means that you will almost definitely have to extend the lease sooner rather than later and it is worth discovering how much this would cost. Remember, in most cases you would be be obliged to have been the owner of the premises for two years before you are entitled to extend the lease. Who manages the block? What prohibitions are contained in the Rye Lease?

    Other Topics

    Lease Extensions in Rye