Sample questions relating to Exeter leasehold conveyancing
I am in need of some leasehold conveyancing in Exeter. Before I get started I require certainty as to the unexpired term of the lease.
If the lease is registered - and 99.9% are in Exeter - 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 garden flat in Exeter. Conveyancing solicitors inform me that they are sending me a report next week. What should I be looking out for?
Your report on title for your leasehold conveyancing in Exeter should include some of the following:
- The physical extent of the property. This will be the flat itself but may include a roof space or cellar if appropriate.
- Are pets allowed in the flat?
- Whether the lease restricts you from letting out the flat, or working from home
- You should have a good understanding of the insurance provisions
- Repair and maintenance of the flat
- Changes to the flat (alterations and additions)
- I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
I today plan to offer on a house that appears to meet my requirements, at a great figure which is making it all the more appealing. I have subsequently been informed that it's a leasehold rather than freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Exeter. Conveyancing advisers have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Exeter ?
The majority of houses in Exeter are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in Exeter in which case you should be shopping around for a Exeter conveyancing solicitor and be sure that they have experience in 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 will likely included provisions for example requiring the landlord’sconsent to carry out changes to the property. It may be necessary to pay a contribution towards the upkeep of the communal areas where the property is part of an estate. Your solicitor should advise you fully on all the issues.
What advice can you give us when it comes to finding a Exeter conveyancing firm to deal with our lease extension?
If you are instructing a property lawyer for lease extension works (regardless if they are a Exeter conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We advise that you make enquires with several firms including non Exeter conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be of use:
- How experienced is the firm with lease extension legislation?
- If they are not ALEP accredited then why not?
We expect to complete the sale of our £ 125000 maisonette in Exeter next week. The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Exeter?
Exeter conveyancing on leasehold flats usually involves the purchaser’s solicitor sending enquiries for the landlord to address. Although the landlord is under no legal obligation to address these enquiries most will be content to assist. They may levy a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is £350, in some transactions it is above £800. The administration charge invoiced by the landlord must be accompanied by a synopsis of rights and obligations in relation to administration fees, otherwise the charge is technically not due. Reality however dictates that you have little choice but to pay whatever is demanded if you want to exchange contracts with the buyer.
I inherited a basement flat in Exeter, conveyancing formalities finalised 2006. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Exeter with a long lease are worth £220,000. The ground rent is £65 charged once a year. The lease terminates on 21st October 2088
You have 62 years remaining on your lease the likely cost is going to range between £18,100 and £20,800 plus legals.
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. Do not use this information in tribunal or court proceedings. There are no doubt other issues 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 getting professional advice.