Expecting to sign contracts shortly on a basement flat in Seaton. Conveyancing solicitors have said that they will have a report out to me tomorrow. Are there areas in the report that I should be focusing on?

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

• You should be sent a copy of the lease

Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder

Ground rent - how much and when you need to pay, and also know whether this is subject to change

Repair and maintenance of the flat

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

What options are open to you if a neighbour breach a clause of their lease?

What the implications are if you breach a clause of your lease? For details of the information to be contained in your report on your leasehold property in Seaton please ask your solicitor in advance of your conveyancing in Seaton

I've found a house that appears to be perfect, at a reasonable price which is making it more attractive. I have subsequently discovered that it's a leasehold rather than freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Seaton. Conveyancing advisers have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Seaton ?

The majority of houses in Seaton are freehold rather than leasehold. This is one of the situations where 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 Seaton in which case you should be shopping around for a Seaton conveyancing solicitor and be sure that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example requiring the freeholder’sconsent to carry out alterations. You may also be required to pay a service charge towards the upkeep of the estate where the house is located on an estate. Your conveyancer should advise you fully on all the issues.

I am attracted to a two flats in Seaton both have in the region of fifty years unexpired on the leases. should I be concerned?

A lease is a legal document that entitles you to use the premises for a period of time. As a lease gets shorter the marketability of the lease deteriorate and it becomes more costly to extend the lease. For this reason it is often a good idea to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders may be reluctant to lend money on properties of this type. Lease extension can be a difficult process. We advise that you get professional assistance from a solicitor and surveyor with experience in this area

Completion in due on the disposal of our £200000 maisonette in Seaton next Tuesday . The landlords agents has quoted £372 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Seaton?

For most leasehold sales in Seaton conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Completing pre-contract enquiries
• Where consent is required before sale in Seaton
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Seaton leasehold premises is £350. For Seaton 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 answers.

Are there frequently found problems that you encounter in leases for Seaton properties?

Leasehold conveyancing in Seaton is not unique. Most leases are unique and legal mistakes in the legal wording can sometimes mean that certain provisions are not included. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain elements of the premises
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

You may encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, Chelsea Building Society, and TSB all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, obliging the buyer to withdraw.

Seaton Leasehold Conveyancing - A selection of Queries before buying

What is the yearly maintenance fee and ground rent? In the main the cost for major works tend not to be wrapped into the service charges, albeit that some managing agents in Seaton obliged leaseholders to pay into a reserve fund created for the specific purpose of establishing a fund for larger repairs or maintenance. How is the lease structured?

Other Topics

Lease Extensions in Seaton