Fixed-fee leasehold conveyancing in Brixham:

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When it comes to leasehold conveyancing in Brixham, you will need to chose a conveyancing lawyer with leasehold experience. Whether your mortgage company is to be Lloyds, Yorkshire Building Society or Nationwide be sure to choose a lawyer on their panel. Find a Brixham conveyancing lawyer with our search tool

Questions and Answers: Brixham leasehold conveyancing

I own a leasehold flat in Brixham. Conveyancing and Nottingham Building Society mortgage went though with no issue. A letter has just been received from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1997. The conveyancing practitioner in Brixham who acted for me is not around.Any advice?

First contact the Land Registry to be sure that this person is indeed the new freeholder. You do not need to incur the fees of a Brixham conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am looking at a couple of flats in Brixham both have about 50 years unexpired on the lease term. should I be concerned?

A lease is a right to use the property for a prescribed time frame. As the lease shortens the value of the lease decreases and results in it becoming more expensive to acquire a lease extension. This is why it is generally wise to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a protracted process. We advise that you get professional assistance from a solicitor and surveyor with experience in this area

I work for a reputable estate agency in Brixham where we see a few flat sales derailed due to short leases. I have received inconsistent advice from local Brixham conveyancing firms. Could you confirm whether the vendor of a flat can commence the lease extension process for the purchaser on completion of the sale?

Provided that the seller has been the owner 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. This means that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with 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.

Can you provide any advice for leasehold conveyancing in Brixham from the perspective of speeding up the sale process?

  • Much of the delay in leasehold conveyancing in Brixham can be avoided where you instruct lawyers the minute your agents start advertising the property and request that they start to collate the leasehold documentation needed by the purchasers’ solicitors.
  • The majority landlords or managing agents in Brixham charge for supplying management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Brixham.
  • If you have carried out any alterations to the property would they have required Landlord’s approval? Have you, for example installed wooden flooring? Most leases in Brixham state that internal structural changes or laying down wooden flooring require a licence from the Landlord consenting to such changes. If you dont have the paperwork in place do not contact the landlord without contacting your solicitor first.
  • 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 nervous about purchasing a flat where there is an ongoing dispute. You will have to accept that you will have to pay any arrears of service charge or settle 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 buyers, but it is better to present the dispute as over as opposed to unresolved.
  • If you are supposed to have a share in the freehold, you should ensure that you hold the original share certificate. Obtaining a re-issued share certificate can be a time consuming formality and delays many a Brixham home move. If a reissued share is necessary, do contact the company director and secretary or managing agents (where relevant) for this at the earliest opportunity.

    • Are there common problems that you witness in leases for Brixham properties?

    Leasehold conveyancing in Brixham is not unique. Most leases is drafted differently and drafting errors can sometimes mean that certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:

    • A provision to repair to or maintain elements of the building
    • Insurance obligations
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Service charge per centages that don't add up correctly leaving a shortfall

    A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Santander, Chelsea Building Society, and Platform Home Loans Ltd all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the purchaser to pull out.

    I own a 1st floor flat in Brixham, conveyancing was carried out 5 years ago. How much will my lease extension cost? Equivalent flats in Brixham with a long lease are worth £210,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease expires on 21st October 2082

    With only 57 years unexpired we estimate the price of your lease extension to span between £27,600 and £31,800 as well as plus your own and the landlord's "reasonable" professional fees.

    The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.

    Other Topics

    Lease Extensions in Brixham