Looking forward to sign contracts shortly on a ground floor flat in Exmouth. Conveyancing lawyers assured me that they report fully next week. What should I be looking out for?

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

• How long the lease is You should be advised as what happens when the lease expires, and aware of the importance of not letting the lease term falling below eighty years

Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord

Does the lease prevent you from subletting the flat, or having a home office for business

Whether your lease has a provision for a reserve fund?

Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?

The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building

What options are open to you if a neighbour breach a clause of their lease? For a comprehensive list of information to be included in your report on your leasehold property in Exmouth please enquire of your conveyancer in advance of your conveyancing in Exmouth

I today plan to offer on a house that appears to meet my requirements, at a reasonable price which is making it all the more appealing. I have subsequently found out that the title is leasehold rather than freehold. I am assuming that there are issues buying a leasehold house in Exmouth. Conveyancing advisers have not yet been appointed. Will they explain the issues?

Most houses in Exmouth are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. We note that you are purchasing in Exmouth so you should seriously consider shopping around for a Exmouth conveyancing solicitor and be sure that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as obtaining the freeholder’spermission 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 lawyer should advise you fully on all the issues.

Last month I purchased a leasehold property in Exmouth. Do I have any liability for service charges for periods before my ownership?

In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

What advice can you give us when it comes to choosing a Exmouth conveyancing practice to deal with our lease extension?

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

• If they are not ALEP accredited then what is the reason?

Can they put you in touch with client in Exmouth who can give a testimonial?

If all goes to plan we aim to complete our sale of a £275000 apartment in Exmouth in six days. The landlords agents has quoted £372 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Exmouth?

Exmouth conveyancing on leasehold maisonettes typically necessitates administration charges levied by managing agents :

• Completing conveyancing due diligence enquiries
• Where consent is required before sale in Exmouth
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Exmouth leasehold property is £350. For Exmouth conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to provide the information.

I acquired a 2 bed flat in Exmouth, conveyancing having been completed half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Exmouth with over 90 years remaining are worth £167,000. The average or mid-range amount of ground rent is £60 yearly. The lease ends on 21st October 2077

With just 53 years remaining on your lease we estimate the premium for your lease extension to span between £27,600 and £31,800 as well as costs.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more detailed investigations. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.

Other Topics

Lease Extensions in Exmouth