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Questions and Answers: Brixham leasehold conveyancing

My partner and I may need to rent out our Brixham garden flat temporarily due to taking a sabbatical. We instructed a Brixham conveyancing firm in 2003 but they have closed and we did not have the foresight to seek any advice as to whether the lease permits subletting. How do we find out?

Your lease dictates relations between the landlord and you the leaseholder; in particular, it will set out if subletting is not allowed, or permitted but only subject to certain conditions. The rule is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in Brixham do not contain subletting altogether – such a clause would adversely affect the market value the flat. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.

Expecting to sign contracts shortly on a studio apartment in Brixham. Conveyancing lawyers assured me that they report fully within the next couple of days. What should I be looking out for?

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

  • The physical extent of the premises. This will be the property itself but may include a loft or cellar if appropriate.
  • Do you need to have carpet in the flat or are you allowed wood flooring?
  • You must be told what constitutes a Nuisance in the lease
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • You should have a good understanding of the insurance provisions
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide. For details of the information to be contained in your report on your leasehold property in Brixham please ask your solicitor in advance of your conveyancing in Brixham

  • I today plan to offer on a house that seems to meet my requirements, at a reasonable figure which is making it all the more appealing. I have subsequently found out that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns buying a leasehold house in Brixham. Conveyancing lawyers have not yet been instructed. Will they explain the issues?

    Most houses in Brixham are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. It is clear that you are buying in Brixham in which case you should be shopping around for a Brixham conveyancing practitioner and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example obtaining the landlord’spermission to carry out changes to the property. It may be necessary to pay a maintenance charge towards the maintenance of the estate where the house is part of an estate. Your solicitor will report to you on the legal implications.

    I am tempted by the attractive purchase price for a two apartments in Brixham which have about forty five years unexpired on the leases. Do I need to be concerned?

    There is no doubt about it. A leasehold flat in Brixham is a wasting asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it adversely affects the value of the property. The majority of purchasers and lenders, leases with less than 75 years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Brixham conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

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

    There is nothing unique about leasehold conveyancing in Brixham. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain provisions are erroneous. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations 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

    You could 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. National Westminster Bank, Leeds Building Society, and Godiva Mortgages Ltd all have express conveyancing instructions 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 provide security, obliging the purchaser to withdraw.

    Brixham Conveyancing for Leasehold Flats - A selection of Questions you should consider Prior to buying

      What is the the remaining lease term? You should want to discover as much as you can about the company managing the building as they will impact your use and enjoyment of the property. Being a leasehold owner you will be at the mercy of the managing agents both financially and when it comes to day to day matters like the upkeep of the communal areas. Ask other people whether they are happy with them. Finally, investigate as to the dates that the maintenance charges are due to the managing agents and specifically what it includes. Where a Brixham lease has fewer than 80 years it will affect the salability of the apartment. Check with your mortgage company that they are willing to lend given the lease term. A short lease means that you will almost definitely require a lease extension sooner rather than later and you need to have some idea of what this would cost. Remember, in most cases you would need to own the property for a couple of years in order to be entitled to exercise a lease extension.

    Other Topics

    Lease Extensions in Brixham