Fixed-fee leasehold conveyancing in Ilfracombe:

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When it comes to leasehold conveyancing in Ilfracombe, you will need to appoint a conveyancing lawyer with leasehold experience. Whether your mortgage company is to be Santander, RBS or Nationwide be sure to find a lawyer on their panel. Find a Ilfracombe conveyancing lawyer with our search tool

Ilfracombe leasehold conveyancing: Q and A’s

Having had my offer accepted I require leasehold conveyancing in Ilfracombe. Before diving in I require certainty as to the unexpired term of the lease.

Assuming the lease is registered - and most are in Ilfracombe - 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.

My husband and I may need to let out our Ilfracombe 1st floor flat for a while due to taking a sabbatical. We instructed a Ilfracombe conveyancing practice in 2002 but they have closed and we did not think at the time seek any guidance as to whether the lease allows us to sublet. How do we find out?

Notwithstanding that your previous Ilfracombe conveyancing lawyer is not around you can check your lease to check if it allows you to sublet the premises. The rule is that if the deeds are non-specific, subletting is allowed. Quite often there is a prerequisite that you must obtain consent from your landlord or other appropriate person in advance of subletting. The net result is that you cannot sublet in the absence of prior consent. Such consent is not allowed to be unreasonably turned down. If the lease does not allow you to sublet you will need to ask your landlord for their consent.

Estate agents have just been given the go-ahead to market my 2 bed apartment in Ilfracombe.Conveyancing solicitors are to be appointed soon but I have just had a quarterly service charge demand – Do I pay up?

The sensible thing to do is 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.

I am attracted to a two maisonettes in Ilfracombe which have about 50 years unexpired on the leases. should I be concerned?

There are plenty of short leases in Ilfracombe. The lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease gets shorter the saleability of the lease deteriorate and results in it becoming more expensive to extend the lease. This is why it is generally wise to extend the lease term. Sometimes it is difficult to sell a property with a short lease as mortgage lenders may be reluctant to lend money on properties of this type. Lease enfranchisement can be a protracted process. We advise that you get professional help from a conveyancer and surveyor with experience in this field

Can you provide any top tips for leasehold conveyancing in Ilfracombe from the perspective of speeding up the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Ilfracombe can be bypassed where you get in touch lawyers the minute your agents start marketing the property and ask them to collate the leasehold information which will be required by the purchasers’ representatives.
  • In the event that you altered the property did you need the Landlord’s consent? In particular have you installed wooden flooring? Most leases in Ilfracombe state that internal structural alterations or laying down wooden flooring require a licence issued by the Landlord approving such alterations. Where you fail to have the approvals to hand do not contact the landlord without contacting your lawyer before hand.
  • If you have had conflict with your landlord or managing agents it is very important that these are resolved before the property is put on the market. The buyers and their solicitors will be nervous about purchasing a flat where there is a current dispute. You may have to bite the bullet and discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is clearly preferable to present the dispute as historic as opposed to unsettled.
  • If you are supposed to have a share in the Management Company, you should ensure that you are holding the original share document. Organising a duplicate share certificate is often a lengthy process and delays many a Ilfracombe conveyancing transaction. Where a duplicate share is required, do contact the company officers or managing agents (where relevant) for this as soon as possible.
  • You believe that you know the number of years left on your lease but you should verify this by asking your conveyancers. A purchaser's lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is below 75 years. In the circumstances it is important at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

    • I am the registered owner of a basement flat in Ilfracombe, conveyancing was carried out 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 properties in Ilfracombe with an extended lease are worth £196,000. The average or mid-range amount of ground rent is £60 per annum. The lease runs out on 21st October 2091

    You have 65 years unexpired we estimate the premium for your lease extension to range between £16,200 and £18,600 as well as professional fees.

    The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Ilfracombe