Fixed-fee leasehold conveyancing in Crediton:

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When it comes to leasehold conveyancing in Crediton, you will need to instruct a conveyancing practitioner with leasehold experience. Whether your mortgage company is to be Halifax, Yorkshire Building Society or Bradford & Bingley make sure you find a lawyer on their approved list. Feel free to use our search tool

Frequently asked questions relating to Crediton leasehold conveyancing

Having checked my lease I have discovered that there are only Seventy years unexpired on my flat in Crediton. I now want to get lease extension but my freeholder is absent. What options are available to me?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. You will be obliged to demonstrate that you or your lawyers have made all reasonable attempts to find the freeholder. In some cases an enquiry agent would be helpful to try and locate and prepare a report which can be accepted by the court as evidence that the landlord can not be located. It is advisable to get professional help from a solicitor in relation to proving the landlord’s disappearance and the vesting order request to the County Court overseeing Crediton.

I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a great price which is making it more attractive. I have since found out that it's a leasehold rather than freehold. I am assuming that there are particular concerns purchasing a leasehold house in Crediton. Conveyancing solicitors have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Crediton ?

The majority of houses in Crediton are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are purchasing in Crediton so you should seriously consider looking for a Crediton conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example requiring the landlord’sconsent to conduct changes to the property. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the property is located on an estate. Your lawyer will appraise you on the various issues.

My wife and I purchased a leasehold house in Crediton. Conveyancing and Barnsley Building Society mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Crediton who previously acted has long since retired.What should I do?

The first thing you should do is contact HMLR to make sure that the individual purporting to own the freehold is indeed the new freeholder. There is no need to instruct a Crediton conveyancing practitioner to do this as it can be done on-line for £3. Rest assured that in any event, even if this is the rightful landlord, 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 Crediton from the perspective of speeding up the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Crediton can be bypassed if you appoint lawyers as soon as your agents start marketing the property and ask them to put together the leasehold information needed by the purchasers’ conveyancers.
  • If you have carried out any alterations to the residence would they have required Landlord’s permission? Have you, for example installed wooden flooring? Most leases in Crediton state that internal structural changes or installing wooden flooring require a licence from the Landlord consenting to such changes. Should you dont have the paperwork to hand you should not contact the landlord without contacting your conveyancer in advance.
  • Some Crediton 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 obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is able to meet the yearly 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 lawyers.
  • If there is a history of any disputes with your landlord or managing agents it is essential that these are resolved prior to the flat being marketed. The buyers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as historic as opposed to unresolved.
  • If you are supposed to have a share in the freehold, you should make sure that you hold the original share document. Arranging a duplicate share certificate can be a lengthy formality and slows down many a Crediton conveyancing transaction. Where a duplicate share certificate is necessary, do contact the company director and secretary or managing agents (if relevant) for this sooner rather than later.

    • Are there frequently found deficiencies that you witness in leases for Crediton properties?

    Leasehold conveyancing in Crediton is not unique. All leases are unique and legal mistakes in the legal wording can sometimes mean that certain provisions 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.
    • Maintenance charge proportions which don’t add up to the correct percentage

    A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, Virgin Money, and Platform Home Loans Ltd all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, forcing the purchaser to withdraw.

    Leasehold Conveyancing in Crediton - A selection of Queries Prior to Purchasing

      Please note that where the lease has less than 80 years it will affect the value of the apartment. It is worth checking with your lender that they are willing to go ahead with the loan given the lease term. A short lease means that you will most likely have to extend the lease sooner rather than later and it is worth finding out how much this will be. For most Creditonlease extensions you will be required to have owned the residence for a couple of years in order to be legally able to extend the lease. The answer will be important as a) areas could result in problems for the building as the communal areas may start to deteriorate where services remain unpaid b) if the leaseholders have an issue with the managing agents you will wish to have all the details Most Crediton leasehold flats will have a service bill for the upkeep of the block invoiced by the freeholder. Where you purchase the property you will have to meet this contribution, normally quarterly during the year. This may vary from two or three hundred pounds to thousands of pounds for blocks with lifts and large communal areas. In all likelihood there will be a ground rent to be met yearly, this is usually not a significant figure, say around £50-£100 but you should to check it because on occasion it can be many hundreds of pounds.

    Other Topics

    Lease Extensions in Crediton