Leasehold Conveyancing in Lynton - Get a Quote from the leasehold experts approved by your lender

When it comes to leasehold conveyancing in Lynton, you will need to appoint a conveyancing practitioner with leasehold experience. Whether your mortgage company is to be Clydesdale , RBS or Bradford & Bingley make sure you choose a lawyer on their approved list. Feel free to use our search tool

Questions and Answers: Lynton leasehold conveyancing

I am on look out for some leasehold conveyancing in Lynton. Before I get started I would like to find out the remaining lease term.

If the lease is recorded at the land registry - and almost all are in Lynton - 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.

Frank (my husband) and I may need to let out our Lynton ground floor flat temporarily due to taking a sabbatical. We instructed a Lynton conveyancing firm in 2002 but they have closed and we did not think at the time get any advice as to whether the lease allows us to sublet. How do we find out?

A lease governs the relationship between the landlord and you the flat owner; specifically, it will indicate if subletting is not allowed, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. The majority of leases in Lynton do not prevent strict prohibition on subletting – such a clause would adversely affect the market value the flat. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.

My wife and I purchased a leasehold flat in Lynton. Conveyancing and Bank of Ireland mortgage organised. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Lynton who acted for me is not around.What should I do?

The first thing you should do is contact the Land Registry to be sure that this person is indeed the new freeholder. It is not necessary to instruct a Lynton conveyancing firm to do this as it can be done on-line for £3. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

We expect to complete the sale of our £250000 apartment in Lynton in just under a week. The managing agents has quoted £384 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Lynton?

Lynton conveyancing on leasehold maisonettes usually necessitates fees being levied by freeholders :

  • Answering pre-exchange questions
  • Where consent is required before sale in Lynton
  • Supplying insurance information
  • Deeds of covenant upon sale
  • Registering of the assignment of the change of lessee after a sale
Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Lynton leasehold premises is £350. For Lynton conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to provide answers.

Are there common problems that you see in leases for Lynton properties?

There is nothing unique about leasehold conveyancing in Lynton. All leases are unique and drafting errors can result in certain sections are wrong. The following missing provisions could result in a defective lease:

  • A provision to repair to or maintain elements of the building
  • Insurance obligations
  • A provision for the recovery of money spent for the benefit of another party.
  • Maintenance charge proportions which don’t add up to the correct percentage

You may encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Coventry Building Society, and Clydesdale all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, obliging the buyer to pull out.

I am the registered owner of a garden flat in Lynton, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar properties in Lynton with an extended lease are worth £245,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease expires on 21st October 2103

With just 78 years left to run we estimate the price of your lease extension to be between £10,500 and £12,000 plus plus your own and the landlord's "reasonable" professional fees.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.

Other Topics

Lease Extensions in Lynton