I am on look out for some leasehold conveyancing in Exmouth. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.

Assuming the lease is recorded at the land registry - and most are in Exmouth - then the leasehold title will always include the basic details 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.

I only have 62 years remaining on my flat in Exmouth. I am keen to get lease extension but my landlord is absent. What options are available to me?

On the basis that you meet the appropriate requirements, 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 or your lawyers have done all that could be expected to track down the lessor. On the whole an enquiry agent should be helpful to conduct investigations and to produce a report which can be used as evidence that the landlord is indeed missing. It is wise to seek advice from a conveyancer in relation to proving the landlord’s absence and the vesting order request to the County Court overseeing Exmouth.

I am hoping to complete next month on a ground floor flat in Exmouth. Conveyancing solicitors have said that they will have a report out to me next week. What should I be looking out for?

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

• You should be sent a copy of the lease

Estate agents have just been given the go-ahead to market my garden apartment in Exmouth.Conveyancing is yet to be initiated but I have just received a half-yearly service charge invoice – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should discharge the invoice 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.

Are there common deficiencies that you come across in leases for Exmouth properties?

Leasehold conveyancing in Exmouth is not unique. Most leases are unique and legal mistakes in the legal wording can result in certain provisions are erroneous. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain parts of the building
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

You will have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, Leeds Building Society, and Godiva Mortgages Ltd all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, forcing the purchaser to pull out.

Exmouth Conveyancing for Leasehold Flats - A selection of Queries before Purchasing

Is the freehold reversion owned collectively by the leaseholders? Please note if it is no more than eighty years it will have adverse implications on the salability of the property. It is worth checking with your bank that they are willing to go ahead with the loan given the lease term. Leases with less than 80 years remaining means that you will almost definitely have to extend the lease at some point and you need to have some idea of how much this would cost. Remember, in most cases you would need to own the property for 24 months before you are legally able to extend the lease. It would be sensible to discover as much as you can regarding the company managing the block as they will impact your use and enjoyment of the property. Being a leasehold owner you are often at the mercy of the managing agents both financially and when it comes to daily issues such as the cleanliness of the communal areas. Enquire of other tenants what they think of their service. In conclusion, investigate as to the dates that the service fees are due to the relevant party and precisely what you get for your money.

Other Topics

Lease Extensions in Exmouth