Experts for Leasehold Conveyancing in Exmoor

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

Recently asked questions relating to Exmoor leasehold conveyancing

I only have Seventy years unexpired on my lease in Exmoor. I now want to get lease extension but my freeholder is can not be found. What are my options?

If 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 lengthened by the magistrate. However, you will be required to demonstrate that you have made all reasonable attempts to locate the landlord. On the whole an enquiry agent should be useful to carry out a search and prepare a report to be used as proof that the landlord is indeed missing. It is advisable to get professional help from a solicitor both on devolving into the landlord’s absence and the application to the County Court overseeing Exmoor.

Expecting to exchange soon on a ground floor flat in Exmoor. Conveyancing solicitors inform me that they will have a report out to me on Monday. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Exmoor should include some of the following:

  • You should receive a copy of the lease
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • Does the lease prohibit wood flooring?
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
  • What options are open to you if a neighbour breach a clause of their lease? For details of the information to be included in your report on your leasehold property in Exmoor please ask your conveyancer in advance of your conveyancing in Exmoor

    • I have just started marketing my 2 bed flat in Exmoor.Conveyancing solicitors are to be appointed soon but I have just had a yearly service charge demand – Do I pay up?

    Your conveyancing lawyer is likely to suggest that you should discharge the service charge 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 management companies 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. This will smooth the conveyancing process.

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

    If you are instructing a solicitor for your lease extension (regardless if they are a Exmoor conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with several firms including non Exmoor conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be useful:

    • If they are not ALEP accredited then why not?
  • How many lease extensions have they completed in Exmoor in the last 12 months?

    • Are there frequently found deficiencies that you see in leases for Exmoor properties?

    There is nothing unique about leasehold conveyancing in Exmoor. Most leases is drafted differently and legal mistakes in the legal wording can result in certain provisions are not included. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain elements of the premises
    • 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 issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, Virgin Money, and Aldermore all have express 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 grant the mortgage, forcing the buyer to pull out.

    I bought a ground floor flat in Exmoor, conveyancing having been completed half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Exmoor with an extended lease are worth £245,000. The ground rent is £65 per annum. The lease expires on 21st October 2104

    With 78 years unexpired we estimate the premium for your lease extension to span between £8,600 and £9,800 plus costs.

    The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Exmoor