I am on look out for some leasehold conveyancing in Exminster. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.

If the lease is registered - and most are in Exminster - then the leasehold title will always include the basic details 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.

Estate agents have just been given the go-ahead to market my 2 bed flat in Exminster.Conveyancing is yet to be initiated but I have just received a quarterly service charge demand – Do I pay up?

It best that you clear 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 managing agents 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.

Back In 2001, I bought a leasehold house in Exminster. Conveyancing and Accord Mortgages Ltd mortgage went though with no issue. A letter has just been received from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1996. The conveyancing practitioner in Exminster who previously acted has now retired.What should I do?

The first thing you should do is make enquiries of HMLR to make sure that this person is indeed the registered owner of the freehold reversion. There is no need to incur the fees of a Exminster 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.

I work for a busy estate agency in Exminster where we have witnessed a few flat sales put at risk as a result of short leases. I have received conflicting advice from local Exminster conveyancing solicitors. Please can you confirm whether the seller of a flat can initiate the lease extension formalities for the buyer?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.

An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

What makes a Exminster lease unmortgageable?

There is nothing unique about leasehold conveyancing in Exminster. All leases is drafted differently and drafting errors can result in certain provisions are erroneous. The following missing provisions could result in a defective lease:

• A provision to repair 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.
• Maintenance charge proportions which don’t add up to the correct percentage

You could have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Barnsley Building Society, and Bank of Ireland all have very detailed requirements 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, forcing the purchaser to withdraw.

Exminster Leasehold Conveyancing - A selection of Queries Prior to Purchasing

It would be sensible to enquire if there is anything that is prohibited in the lease. By way of example it is reasonably common in Exminster leases that pets are not allowed in certain buildings in Exminster. If you love the flatin Exminster however your dog is not allowed to move with you then you will be faced hard choice. Is anyone aware of any major works on the horizon that will increase the service fees? This question is helpful as a) areas could cause problems for the block as the communal areas may start to deteriorate if services are not paid for b) if the tenants have a dispute with the managing agents you will want to have all the details

Other Topics

Lease Extensions in Exminster