Experts for Leasehold Conveyancing in Dawlish

While any conveyancing practice can theoretically handle your leasehold conveyancing in Dawlish, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Dawlish leasehold conveyancing: Q and A’s

Having had my offer accepted I require leasehold conveyancing in Dawlish. Before I set the wheels in motion I want to be sure as to the remaining lease term.

If the lease is recorded at the land registry - 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.

Last month I purchased a leasehold property in Dawlish. Am I liable to pay service charges for periods before my ownership?

Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

What advice can you give us when it comes to appointing a Dawlish conveyancing firm to deal with our lease extension?

When appointing a property lawyer for your lease extension (regardless if they are a Dawlish conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with two or three firms including non Dawlish conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be of use:

  • How familiar is the practice with lease extension legislation?
  • What are the costs for lease extension work?

  • Can you provide any advice for leasehold conveyancing in Dawlish from the perspective of saving time on the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Dawlish can be reduced where you appoint lawyers the minute your agents start advertising the property and request that they start to collate the leasehold information needed by the purchasers’ conveyancers.
    • In the event that you altered the property did you need the Landlord’s consent? Have you, for example installed wooden flooring? Dawlish leases often stipulate that internal structural changes or installing wooden flooring necessitate a licence from the Landlord approving such changes. Where you dont have the paperwork in place do not communicate with the landlord without checking with your conveyancer in advance.
  • Some Dawlish 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 bank and professional references. Any bank reference should make it clear that the buyer is financially capable of paying 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 actual amount of the service charge 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 very important that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be concerned about purchasing a flat where a dispute is unresolved. You may have to bite the bullet and pay any arrears of service charge or resolve the dispute prior to completion of the sale. 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 unresolved.
  • If you are supposed to have a share in the freehold, you should make sure that you hold the original share certificate. Obtaining a new share certificate can be a lengthy formality and frustrates many a Dawlish conveyancing transaction. If a reissued share certificate is necessary, you should approach the company officers or managing agents (where relevant) for this at the earliest opportunity.

  • In relation to leasehold conveyancing in Dawlish what are the most common lease defects?

    There is nothing unique about leasehold conveyancing in Dawlish. All leases are individual and legal mistakes in the legal wording can result in certain provisions are missing. 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
    • A duty to insure the building
    • 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

    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. Birmingham Midshires, Norwich and Peterborough Building Society, and Clydesdale 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 grant the mortgage, forcing the buyer to withdraw.

    I acquired a leasehold flat in Dawlish, conveyancing formalities finalised in 1997. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Dawlish with a long lease are worth £234,000. The average or mid-range amount of ground rent is £60 levied per year. The lease expires on 21st October 2104

    With only 80 years unexpired we estimate the premium for your lease extension to span between £10,500 and £12,000 as well as costs.

    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 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 clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Dawlish