Experts for Leasehold Conveyancing in Exmouth

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Frequently asked questions relating to Exmouth leasehold conveyancing

I am in need of some leasehold conveyancing in Exmouth. 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 recorded at the land registry - and almost all are in Exmouth - then the leasehold title will always include the short particulars 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.

There are only Sixty One years remaining on my flat in Exmouth. I now want to get lease extension but my landlord is can not be found. What are my options?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. However, you will be required to prove that you have done all that could be expected to locate the lessor. In some cases an enquiry agent may be helpful to carry out a search and to produce an expert document which can be used as proof that the landlord can not be located. It is advisable to get professional help from a conveyancer both on investigating the landlord’s absence and the vesting order request to the County Court covering Exmouth.

Back In 2006, I bought a leasehold house in Exmouth. Conveyancing and The Mortgage Works mortgage went though with no issue. A letter has just been received from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1992. The conveyancing solicitor in Exmouth who previously acted has long since retired.Do I pay?

First contact the Land Registry to make sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Exmouth conveyancing lawyer to do this as you can do this on the Land Registry website for £3. You should note 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 am attracted to a couple of maisonettes in Exmouth which have in the region of 50 years unexpired on the leases. Will this present a problem?

There are plenty of short leases in Exmouth. The lease is a legal document that entitles you to use the property for a period of time. As the lease shortens the saleability of the lease decreases and results in it becoming more expensive to acquire a lease extension. This is why it is generally wise to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease extension can be a protracted process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this arena

Do you have any advice for leasehold conveyancing in Exmouth with the purpose of speeding up the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Exmouth can be avoided if you instruct lawyers the minute your agents start advertising the property and request that they start to collate the leasehold information needed by the buyers representatives.
  • In the event that you altered the property did you need the Landlord’s approval? In particular have you laid down wooden flooring? Most leases in Exmouth state that internal structural alterations or laying down wooden flooring require a licence issued by the Landlord acquiescing to such changes. If you dont have the approvals to hand do not contact the landlord without contacting your lawyer in advance.
  • A minority of Exmouth leases require Licence to Assign from the landlord. If this applies to your lease, you should 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 financially capable of paying 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 service charge figures so that they can pass this information on to the purchasers or their lawyers.
  • If you hold a share in a the freehold, you should ensure that you have the original share certificate. Obtaining a replacement share certificate can be a time consuming process and delays many a Exmouth conveyancing transaction. Where a duplicate share is required, do contact the company officers or managing agents (if relevant) for this as soon as possible.
  • You may think that you are aware of the number of years remaining on your lease but it would be advisable double-check via your solicitors. A buyer’s conveyancer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is less than 80 years. It is therefore essential at an as soon as possible that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • Leasehold Conveyancing in Exmouth - Sample of Questions you should consider Prior to buying

      Plenty Exmouth leasehold apartments will incur a service bill for maintenance of the building set by the freeholder. If you buy the apartment you will have to meet this amount, usually in instalments during the year. This may differ from a few hundred pounds to thousands of pounds for bigger purpose-built buildings. In all probability there will be a rentcharge for you to pay annual, this is usually not a large amount, say about £25-£75 but you need to enquire it because sometimes it could be prohibitively expensive. The best form of lease structure is where the freehold title is owned by the leaseholders. In this arrangement the lessees have control and although a managing agent is usually retained where the building is bigger than a house conversion, the managing agent is directed by the tenants. Make sure you investigate if there are any onerous restrictions in the lease. For example it is fairly common in Exmouth leases that pets are not permitted in in a block in Exmouth. If you love the propertyin Exmouth however your dog is not allowed to live with you then you will be faced difficult choice.

    Other Topics

    Lease Extensions in Exmouth