Fixed-fee leasehold conveyancing in Buckfastleigh:

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Leasehold conveyancing in Buckfastleigh 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 Buckfastleigh and throughout next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Examples of recent questions relating to leasehold conveyancing in Buckfastleigh

My wife and I may need to let out our Buckfastleigh garden flat for a while due to taking a sabbatical. We used a Buckfastleigh conveyancing firm in 2001 but they have since shut and we did not think at the time seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?

The lease dictates the relationship between the landlord and you the flat owner; specifically, it will indicate if subletting is not allowed, or permitted but only subject to certain caveats. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. Most leases in Buckfastleigh do not prevent subletting altogether – such a provision would undoubtedly devalue the flat. In most cases there is a basic requirement that the owner notifies the freeholder, possibly sending a copy of the sublease.

Can you offer any advice when it comes to finding a Buckfastleigh conveyancing practice to deal with our lease extension?

When appointing a conveyancer for your lease extension (regardless if they are a Buckfastleigh conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with two or three firms including non Buckfastleigh conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be useful:

  • How many lease extensions has the firm conducted in Buckfastleigh in the last year?
  • What are the costs for lease extension work?

    • Do you have any advice for leasehold conveyancing in Buckfastleigh with the aim of expediting the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Buckfastleigh can be avoided where you instruct lawyers as soon as you market your property and request that they start to put together the leasehold documentation needed by the buyers conveyancers.
    • Many freeholders or managing agents in Buckfastleigh levy fees for providing management packs for a leasehold homes. You or your lawyers should discover the fee that they propose to charge. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Buckfastleigh.
  • In the event that you altered the property did you need the Landlord’s permission? Have you, for example laid down wooden flooring? Most leases in Buckfastleigh state that internal structural changes or installing wooden flooring calls for a licence from the Landlord approving such changes. Where you fail to have the approvals in place do not communicate with the landlord without contacting your solicitor in advance.
  • If you hold a share in a the Management Company, you should ensure that you have the original share document. Obtaining a replacement share certificate can be a lengthy formality and frustrates many a Buckfastleigh home move. If a duplicate share is necessary, do contact the company officers or managing agents (where applicable) for this at the earliest opportunity.
  • You believe that you know the number of years remaining on your lease but it would be wise to double-check by asking your conveyancers. A purchaser's lawyer will not be happy to advise their client to where the lease term is below 75 years. In the circumstances it is important at an as soon as possible that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £275000 flat in Buckfastleigh next Friday . The managing agents has quoted £396 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Buckfastleigh?

    Buckfastleigh conveyancing on leasehold apartments usually involves the purchaser’s solicitor sending questions for the landlord to answer. Although the landlord is not legally bound to answer these enquiries the majority will be willing to assist. They may levy a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some cases it is in excess of £800. The management information fee required by the landlord must be sent together with a synopsis of rights and obligations in respect of administration fees, otherwise the charge is technically not due. Reality however dictates that you have little choice but to pay whatever is demanded should you wish to complete the sale of your home.

    Are there common problems that you see in leases for Buckfastleigh properties?

    There is nothing unique about leasehold conveyancing in Buckfastleigh. All leases are unique and drafting errors can result in certain provisions are not included. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain parts of the premises
    • 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 will have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, The Mortgage Works, and Godiva Mortgages Ltd all have very detailed 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 grant the mortgage, forcing the buyer to pull out.

    I invested in buying a 2 bed flat in Buckfastleigh, conveyancing formalities finalised half a dozen years ago. Can you work out an approximate cost of a lease extension? Equivalent properties in Buckfastleigh with an extended lease are worth £170,000. The ground rent is £55 yearly. The lease comes to an end on 21st October 2083

    With only 57 years left to run we estimate the premium for your lease extension to be between £24,700 and £28,600 as well as professional fees.

    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 in the absence of comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Buckfastleigh