I am in need of some leasehold conveyancing in Dawlish. Before diving in I require certainty as to the number of years remaining on the lease.

Assuming the lease is registered - and most are in Dawlish - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I am hoping to complete next month on a basement flat in Dawlish. Conveyancing solicitors have said that they will have a report out to me next week. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Dawlish should include some of the following:

• You should be sent a copy of the lease

I have just appointed agents to market my garden apartment in Dawlish.Conveyancing solicitors are to be appointed soon but I have just received a quarterly maintenance charge invoice – should I leave it to the buyer to sort out?

It best that you pay the invoice 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 unless 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. This will smooth the conveyancing process.

I am looking at a couple of flats in Dawlish which have about 50 years left on the lease term. Will this present a problem?

There is no doubt about it. A leasehold apartment in Dawlish is a wasting asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it adversely affects the value of the premises. The majority of purchasers and lenders, leases with less than eighty 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 property 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 a residence 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 Dawlish 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 any new 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.

What are the common deficiencies that you see in leases for Dawlish properties?

Leasehold conveyancing in Dawlish is not unique. Most leases is drafted differently and drafting errors can result in certain provisions are wrong. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts of the property
• A duty to insure the building
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

You may 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. Accord Mortgages Ltd, The Royal Bank of Scotland, and Alliance & Leicester all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, obliging the buyer to withdraw.

Leasehold Conveyancing in Dawlish - A selection of Questions you should consider before Purchasing

The majority of Dawlish leasehold apartments will incur a service charge for the upkeep of the block invoiced by the landlord. If you purchase the flat you will have to meet this charge, usually periodically throughout the year. This can be anything from several hundred pounds to thousands of pounds for blocks with lifts and large communal areas. There will also be a ground rent for you to pay yearly, normally this is not a significant figure, say around £50-£100 but you should to check it because occasionally it can be many hundreds of pounds. Can you tell me if there are any major works in the near future that could increase the service costs? What is the name of the managing agents?

Other Topics

Lease Extensions in Dawlish