Fixed-fee leasehold conveyancing in Bideford:

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Leasehold conveyancing in Bideford is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Bideford and across next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Bideford leasehold conveyancing Example Support Desk Enquiries

I have just appointed agents to market my basement apartment in Bideford.Conveyancing lawyers have not yet been instructed but I have just had a yearly maintenance charge demand – what should I do?

Your conveyancing lawyer is likely to suggest that you should 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 managing agents 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. This will smooth the conveyancing process.

Back In 2007, I bought a leasehold flat in Bideford. Conveyancing and HSBC Bank mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1995. The conveyancing practitioner in Bideford who previously acted has long since retired.What should I do?

The first thing you should do is make enquiries of the Land Registry to be sure that the individual purporting to own the freehold is in fact the new freeholder. You do not need to instruct a Bideford conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. You should note that in any event, 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 attracted to a two apartments in Bideford both have approximately fifty years unexpired on the lease term. should I be concerned?

There are plenty of short leases in Bideford. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease gets shorter the value of the lease decreases and results in it becoming more costly to acquire a lease extension. For this reason it is generally wise to extend the lease term. More often than not it is difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We advise that you seek professional help from a conveyancer and surveyor with experience in this area

Do you have any top tips for leasehold conveyancing in Bideford from the perspective of expediting the sale process?

  • Much of the delay in leasehold conveyancing in Bideford can be bypassed if you appoint lawyers as soon as you market your property and ask them to put together the leasehold information needed by the purchasers’ conveyancers.
  • Many landlords or Management Companies in Bideford charge for providing management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management pack sought on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Bideford.
  • A minority of Bideford leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain bank and professional references. The bank reference will need to confirm that the buyers are able to meet 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 buyers or their lawyers.
  • If you have had conflict with your landlord or managing agents it is very important that these are settled before the property is put on the market. The purchasers and their solicitors will be reluctant to purchase 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 completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is better to present the dispute as over rather than unsettled.
  • If you are supposed to have a share in the freehold, you should make sure that you hold the original share certificate. Arranging a replacement share certificate can be a time consuming formality and frustrates many a Bideford home move. If a reissued share is necessary, do contact the company officers or managing agents (if relevant) for this sooner rather than later.

    • Completion in due on our sale of a £225000 garden flat in Bideford in just under a week. The landlords agents has quoted £360 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Bideford?

    Bideford conveyancing on leasehold apartments more often than not involves the buyer’s conveyancer submitting enquiries for the landlord to address. Although the landlord is under no legal obligation to address these enquiries the majority will be willing to do so. They are at liberty invoice a reasonable charge for answering questions or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is £350, in some situations it exceeds £800. The administration charge levied by the landlord must be accompanied by a synopsis of entitlements and obligations in respect of administration charges, without which the invoice is not strictly payable. In reality one has no option but to pay whatever is demanded should you wish to sell the property.

    I own a basement flat in Bideford, conveyancing formalities finalised in 2002. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Bideford with over 90 years remaining are worth £245,000. The ground rent is £60 per annum. The lease terminates on 21st October 2104

    With 80 years remaining on your lease the likely cost is going to range between £10,500 and £12,000 plus costs.

    The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.

    Other Topics

    Lease Extensions in Bideford