There are only Seventy years unexpired on my lease in Ivybridge. I am keen to get lease extension but my freeholder is can not be found. What should I do?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. You will be obliged to prove that you have used your best endeavours to track down the landlord. On the whole an enquiry agent would be useful to carry out a search and to produce a report which can be used as evidence that the freeholder can not be located. It is wise to seek advice from a property lawyer both on devolving into the landlord’s absence and the application to the County Court covering Ivybridge.

I today plan to offer on a house that seems to tick a lot of boxes, at a reasonable price which is making it more attractive. I have subsequently found out that it's a leasehold as opposed to freehold. I am assuming that there are issues purchasing a house with a leasehold title in Ivybridge. Conveyancing solicitors have not yet been instructed. Will they explain the issues?

The majority of houses in Ivybridge are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are buying in Ivybridge so you should seriously consider looking for a Ivybridge conveyancing solicitor and check that they are used to transacting 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 entirely free to do whatever you want to the property. The lease will likely included provisions such as obtaining the freeholder’sconsent to carry out alterations. 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 report to you on the legal implications.

I am tempted by the attractive purchase price for a two apartments in Ivybridge both have approximately fifty years remaining on the lease term. Will this present a problem?

There are plenty of short leases in Ivybridge. The lease is a right to use the premises for a period of time. As the lease gets shorter the value of the lease reduces and results in it becoming more costly to acquire a lease extension. This is why it is generally wise to increase the term of the lease. It is often difficulties arise selling premises with a short lease because mortgage lenders may be reluctant to lend money on properties of this type. Lease enfranchisement can be a difficult process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this area

Can you provide any advice for leasehold conveyancing in Ivybridge with the aim of speeding up the sale process?

• Much of the delay in leasehold conveyancing in Ivybridge can be reduced where you appoint lawyers as soon as your agents start marketing the property and ask them to collate the leasehold information needed by the buyers solicitors.
• The majority landlords or managing agents in Ivybridge levy fees for providing management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Ivybridge.
• If you have carried out any alterations to the property would they have required Landlord’s permission? Have you, for example installed wooden flooring? Most leases in Ivybridge state that internal structural changes or laying down wooden flooring calls for a licence issued by the Landlord consenting to such alterations. If you fail to have the approvals to hand do not contact the landlord without contacting your conveyancer in the first instance.
• If you are supposed to have a share in the freehold, you should ensure that you have the original share document. Arranging a duplicate share certificate is often a time consuming process and delays many a Ivybridge conveyancing transaction. Where a reissued share is required, do contact the company officers or managing agents (where applicable) for this sooner rather than later.
• You may think that you are aware of the number of years remaining on your lease but it would be wise to double-check via your conveyancers. A buyer’s lawyer will be unlikely to recommend their client to to exchange contracts if the lease term is less than 80 years. It is therefore important at an as soon as possible that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

Completion in due on the sale of our £ 375000 garden flat in Ivybridge next week. The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Ivybridge?

Ivybridge conveyancing on leasehold flats normally requires the buyer’s lawyer submitting enquiries for the landlord to answer. Although the landlord is not legally bound to address such questions most will be content to do so. They are entitled charge a reasonable administration fee for answering enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is £350, in some cases it exceeds £800. The management information fee required by the landlord must be accompanied by a summary of rights and obligations in respect of administration charges, without which the invoice is technically not due. In reality one has no option but to pay whatever is demanded should you wish to exchange contracts with the buyer.

I invested in buying a leasehold flat in Ivybridge, conveyancing formalities finalised 10 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Ivybridge with an extended lease are worth £234,000. The ground rent is £60 per annum. The lease runs out on 21st October 2082

With 56 years unexpired we estimate the price of your lease extension to be between £26,600 and £30,800 as well as professional fees.

The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of detailed investigations. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.