Experts for Leasehold Conveyancing in Exminster

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Top Five Questions relating to Exminster leasehold conveyancing

My partner and I may need to sub-let our Exminster ground floor flat for a while due to a career opportunity. We used a Exminster conveyancing practice in 2001 but they have since shut and we did not think at the time get any advice as to whether the lease permits subletting. How do we find out?

Some leases for properties in Exminster do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably withhold but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.

Having checked my lease I have discovered that there are only 62 years unexpired on my flat in Exminster. I now wish to extend my lease but my freeholder is missing. What are my options?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. However, you will be required to demonstrate that you have used your best endeavours to track down the landlord. In some cases a specialist would be useful to carry out a search and prepare an expert document which can be accepted by the court as evidence that the freeholder can not be located. It is wise to seek advice from a conveyancer both on devolving into the landlord’s disappearance and the vesting order request to the County Court covering Exminster.

What advice can you give us when it comes to finding a Exminster conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a solicitor for your lease extension (regardless if they are a Exminster conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with several firms including non Exminster conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be useful:

  • What volume of lease extensions have they completed in Exminster in the last twenty four months?
  • Can they put you in touch with client in Exminster who can give a testimonial?

    • Can you provide any top tips for leasehold conveyancing in Exminster with the aim of saving time on the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Exminster can be reduced if you get in touch lawyers the minute you market your property and request that they start to collate the leasehold documentation needed by the buyers representatives.
    • If you have carried out any alterations to the residence would they have required Landlord’s approval? Have you, for example laid down wooden flooring? Exminster leases often stipulate that internal structural alterations or addition of wooden flooring require a licence from the Landlord approving such works. Where you fail to have the approvals to hand do not communicate with the landlord without checking with your conveyancer before hand.
  • Some Exminster leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. The bank reference will need to confirm that the buyers are 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 service charge figures so that they can pass this information on to the buyers or their solicitors.
  • If you hold a share in a the Management Company, you should make sure that you have the original share document. Arranging a new share certificate can be a lengthy process and slows down many a Exminster home move. Where a new share is required, you should approach the company officers or managing agents (where relevant) for this as soon as possible.
  • You believe that you know the number of years left on your lease but you should verify this via your conveyancers. A purchaser's lawyer will not be happy to advise their client to to exchange contracts if the remaining number of years is below 80 years. In the circumstances it is important at an early stage that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

    • What are the common deficiencies that you witness in leases for Exminster properties?

    There is nothing unique about leasehold conveyancing in Exminster. Most leases are unique and drafting errors can result in certain sections are wrong. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain parts of the property
    • 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

    A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Leeds Building Society, and Platform Home Loans Ltd all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, obliging the purchaser to withdraw.

    Exminster Conveyancing for Leasehold Flats - A selection of Queries Prior to buying

      The prefered form of lease structure is a share of the freehold. In this arrangement the tenants enjoy being in charge if their destiny and even though a managing agent is frequently retained where the building is larger than a house conversion, the managing agent is directed by the tenants. Is the freehold owned collectively by the leaseholders? What is the service charge and ground rent on the apartment?

    Other Topics

    Lease Extensions in Exminster