Having had my offer accepted I require leasehold conveyancing in Braunton. Before diving in I require certainty as to the unexpired term of the lease.

Assuming the lease is recorded at the land registry - and most are in Braunton - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I have recently realised that I have Fifty years remaining on my flat in Braunton. I am keen to get lease extension but my landlord is can not be found. What should I do?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. You will be obliged to demonstrate that you have used your best endeavours to track down the lessor. In some cases a specialist may be useful to try and locate and to produce an expert document to be used as evidence that the landlord is indeed missing. It is wise to seek advice from a property lawyer in relation to investigating the landlord’s absence and the vesting order request to the County Court overseeing Braunton.

I've recently bought a leasehold flat in Braunton. Am I liable to pay service charges relating to a period prior to completion of my purchase?

In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, 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 provide any advice for leasehold conveyancing in Braunton with the purpose of saving time on the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Braunton can be reduced if you get in touch lawyers the minute you market your property and ask them to put together the leasehold information which will be required by the buyers lawyers.
• Many landlords or managing agents in Braunton charge for supplying management packs for a leasehold premises. You or your lawyers should enquire as to the fee that they propose to charge. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Braunton.

A minority of Braunton leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. Any 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 solicitors.

If there is a history of any disputes with your landlord or managing agents it is essential that these are settled prior to the flat being marketed. The buyers and their solicitors will be concerned about purchasing a flat where there is an ongoing dispute. You may have to bite the bullet and pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is better to reveal the dispute as over rather than unresolved.

You may think that you are aware of the number of years left on your lease but it would be advisable double-check by asking your lawyers. A purchaser's conveyancer will not be happy to advise their client to where the remaining number of years is less than 75 years. It is therefore important 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 property on the market for sale.

Completion in due on the sale of our £325000 flat in Braunton next week. The freeholder has quoted £312 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Braunton?

Braunton conveyancing on leasehold apartments typically results in fees being raised by landlords agents :

• Answering conveyancing due diligence questions
• Where consent is required before sale in Braunton
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Braunton leasehold property is £350. For Braunton 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 the information.

Leasehold Conveyancing in Braunton - Sample of Questions you should consider before Purchasing

Is anyone aware of any major works on the horizon that will add a premium to the maintenance fees? It is important to be aware if a new roof is being installed or some other major work is coming up that will be shared amongst the leasehold owners and will dramatically increase the the maintenance charges or require a one off payment. This information is important as a) areas may cause problems for the building as the communal areas may start to deteriorate if repairs remain unpaid b) if the tenants have an issue with the running of the building you will want to have all the details

Other Topics

Lease Extensions in Braunton