Exmouth leasehold conveyancing Example Support Desk Enquiries
I today plan to offer on a house that appears to meet my requirements, at a great figure which is making it more attractive. I have subsequently found out that the title is leasehold rather than freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Exmouth. Conveyancing advisers have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Exmouth ?
The majority of houses in Exmouth are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. it is apparent that you are buying in Exmouth in which case you should be looking for a Exmouth conveyancing solicitor and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’sconsent to conduct changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the estate where the property is located on an estate. Your lawyer will appraise you on the various issues.
Last month I purchased a leasehold flat in Exmouth. Do I have any liability for service charges relating to a period prior to 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. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure 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).
Can you offer any advice when it comes to finding a Exmouth conveyancing firm to deal with our lease extension?
When appointing a conveyancer for your lease extension (regardless if they are a Exmouth conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We suggested that you speak with several firms including non Exmouth 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 practice with lease extension legislation?
Do you have any advice for leasehold conveyancing in Exmouth from the point of view of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in Exmouth can be avoided if you get in touch lawyers the minute you market your property and request that they start to collate the leasehold information which will be required by the buyers representatives.
- If you have carried out any alterations to the property would they have required Landlord’s approval? In particular have you laid down wooden flooring? Most leases in Exmouth state that internal structural alterations or installing wooden flooring calls for a licence from the Landlord consenting to such works. If you fail to have the paperwork in place you should not contact the landlord without checking with your lawyer in advance.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £300000 garden flat in Exmouth next Friday . The landlords agents has quoted £360 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Exmouth?
Exmouth conveyancing on leasehold flats ordinarily results in administration charges raised by management companies :
- Answering pre-contract questions
- 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
I own a garden flat in Exmouth, conveyancing was carried out half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent flats in Exmouth with an extended lease are worth £256,000. The average or mid-range amount of ground rent is £45 per annum. The lease runs out on 21st October 2076
You have 55 years unexpired we estimate the price of your lease extension to span between £28,500 and £33,000 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.