Fixed-fee leasehold conveyancing in Exminster:

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Exminster leasehold conveyancing Example Support Desk Enquiries

I would like to let out my leasehold apartment in Exminster. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

Notwithstanding that your previous Exminster conveyancing solicitor is not around you can review your lease to see if you are permitted to let out the property. The rule is that if the deeds are non-specific, subletting is permitted. Quite often there is a prerequisite that you need to seek consent from your landlord or some other party prior to subletting. The net result is you not allowed to sublet without prior permission. Such consent must not not be unreasonably turned down. If the lease prohibits you from subletting the property you should ask your landlord for their consent.

Can you offer any advice when it comes to appointing a Exminster conveyancing firm to deal with our lease extension?

If you are instructing a property lawyer for lease extension works (regardless if they are a Exminster conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We advise that you make enquires with two or three firms including non Exminster conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be useful:

  • How experienced is the firm with lease extension legislation?
  • How many lease extensions have they completed in Exminster in the last twenty four months?

    • Do you have any advice for leasehold conveyancing in Exminster from the point of view of expediting the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Exminster can be avoided where you instruct lawyers as soon as your agents start marketing the property and request that they start to collate the leasehold information needed by the purchasers’ representatives.
    • Many freeholders or managing agents in Exminster charge for providing management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management pack sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Exminster.
  • In the event that you altered the property did you need the Landlord’s permission? In particular have you laid down wooden flooring? Most leases in Exminster state that internal structural alterations or addition of wooden flooring require a licence issued by the Landlord approving such changes. If you dont have the consents to hand you should not communicate with the landlord without checking with your solicitor first.
  • A minority of Exminster leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. The bank reference will need to confirm that the buyers are able to meet the annual 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 essential that these are settled before the property is put on the market. The buyers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You may have to bite the bullet and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. 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 buyers, but it is better to present the dispute as over as opposed to unresolved.

    • If all goes to plan we aim to complete the sale of our £300000 garden flat in Exminster next week. The managing agents has quoted £384 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Exminster?

    Exminster conveyancing on leasehold apartments normally requires the buyer’s lawyer sending questions for the landlord to address. Although the landlord is not legally bound to address such questions most will be willing to assist. They may levy a reasonable administration fee for answering questions or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is over three hundred pounds, in some cases it is in excess of £800. The management information fee required by the landlord must be accompanied by a synopsis of entitlements and obligations in relation to administration fees, otherwise the charge is technically not due. In reality one has no choice but to pay whatever is demanded if you want to complete the sale of your home.

    What are the common defects that you see in leases for Exminster properties?

    There is nothing unique about leasehold conveyancing in Exminster. All leases are individual and drafting errors can sometimes mean that certain sections are not included. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain parts of the building
    • Insurance obligations
    • 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 have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, Chelsea Building Society, and Britannia all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, obliging the purchaser to pull out.

    I acquired a split level flat in Exminster, conveyancing having been completed half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar flats in Exminster with an extended lease are worth £220,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease finishes on 21st October 2105

    You have 80 years remaining on your lease we estimate the price of your lease extension to range between £8,600 and £9,800 as well as costs.

    The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Exminster