Leasehold Conveyancing in Budleigh Salterton - Get a Quote from the leasehold experts approved by your lender

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When it comes to leasehold conveyancing in Budleigh Salterton, you will need to instruct a conveyancing lawyer with leasehold experience. Whether your mortgage company is to be Santander, RBS or Bradford & Bingley be sure to choose a lawyer on their approved list. Find a Budleigh Salterton conveyancing lawyer with our search tool

Budleigh Salterton leasehold conveyancing: Q and A’s

I have recently realised that I have Seventy years remaining on my lease in Budleigh Salterton. I need to extend my lease but my landlord is absent. 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 extended by the Court. You will be obliged to prove that you have done all that could be expected to find the freeholder. For most situations an enquiry agent would be helpful to try and locate and prepare an expert document to be used as proof that the landlord can not be located. It is wise to seek advice from a solicitor in relation to proving the landlord’s absence and the vesting order request to the County Court covering Budleigh Salterton.

I have just started marketing my 2 bed flat in Budleigh Salterton.Conveyancing is yet to be initiated but I have just received a half-yearly service charge invoice – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should discharge the service charge 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 management companies 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. Having a clear account will assist your cause and will leave you no worse off financially.

I've found a house that seems to tick a lot of boxes, at a great figure which is making it more attractive. I have just discovered that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Budleigh Salterton. Conveyancing advisers have not yet been instructed. Will they explain the issues?

The majority of houses in Budleigh Salterton are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. It is clear that you are buying in Budleigh Salterton so you should seriously consider shopping around for a Budleigh Salterton conveyancing solicitor and check that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as requiring the landlord’spermission to conduct alterations. It may be necessary to pay a service charge towards the upkeep of the communal areas where the house is part of an estate. Your conveyancer will advise you fully on all the issues.

My wife and I purchased a leasehold house in Budleigh Salterton. Conveyancing and Barclays Direct mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1991. The conveyancing solicitor in Budleigh Salterton who previously acted has now retired.Any advice?

First make enquiries of the Land Registry to be sure that the individual purporting to own the freehold is indeed the new freeholder. There is no need to incur the fees of a Budleigh Salterton conveyancing lawyer to do this as you can do this on the Land Registry website for £3. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

Do you have any top tips for leasehold conveyancing in Budleigh Salterton from the point of view of saving time on the sale process?

  • Much of the frustration in leasehold conveyancing in Budleigh Salterton can be bypassed if you appoint lawyers the minute your agents start advertising the property and ask them to put together the leasehold documentation needed by the buyers solicitors.
  • The majority freeholders or managing agents in Budleigh Salterton levy fees for supplying management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. 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 usual reason for delay in leasehold conveyancing in Budleigh Salterton.
  • If you have had conflict with your landlord or managing agents it is essential that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You may need to swallow your pride 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 prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as over as opposed to unsettled.
  • If you hold a share in a the freehold, you should ensure that you are holding the original share document. Obtaining a re-issued share certificate can be a time consuming process and slows down many a Budleigh Salterton conveyancing transaction. If a reissued share certificate is necessary, you should approach the company officers or managing agents (if applicable) for this sooner rather than later.
  • You believe that you know the number of years left on your lease but you should double-check via your solicitors. A purchaser's conveyancer will be unlikely to recommend their client to where the remaining number of years is below 80 years. It is therefore essential at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

    • I purchased a 2 bed flat in Budleigh Salterton, conveyancing was carried out half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Budleigh Salterton with over 90 years remaining are worth £196,000. The ground rent is £60 invoiced every year. The lease terminates on 21st October 2100

    You have 74 years left to run we estimate the price of your lease extension to span between £11,400 and £13,200 plus plus your own and the landlord's "reasonable" professional fees.

    The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Budleigh Salterton