Quality lawyers for Leasehold Conveyancing in Newton Abbot

When it comes to leasehold conveyancing in Newton Abbot, you will need to chose a conveyancing practitioner with leasehold experience. Whether your lender is to be Lloyds, Yorkshire Building Society or Bradford & Bingley be sure to find a lawyer on their panel. Feel free to use our search tool

Newton Abbot leasehold conveyancing: Q and A’s

My partner and I may need to sub-let our Newton Abbot garden flat temporarily due to a new job. We used a Newton Abbot conveyancing firm in 2003 but they have closed and we did not have the foresight to seek any advice as to whether the lease permits subletting. How do we find out?

Some leases for properties in Newton Abbot do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably withhold but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.

My wife and I purchased a leasehold house in Newton Abbot. Conveyancing and Godiva Mortgages Ltd mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1994. The conveyancing practitioner in Newton Abbot who previously acted has long since retired.What should I do?

First make enquiries of HMLR to be sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Newton Abbot conveyancing solicitor to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

Can you offer any advice when it comes to choosing a Newton Abbot conveyancing firm to deal with our lease extension?

When appointing a property lawyer for your lease extension (regardless if they are a Newton Abbot conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with two or three firms including non Newton Abbot conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be useful:

  • How familiar is the practice with lease extension legislation?
  • If the firm is not ALEP accredited then what is the reason?

  • Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £125000 apartment in Newton Abbot next Tuesday . The landlords agents has quoted £360 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Newton Abbot?

    Newton Abbot conveyancing on leasehold flats usually necessitates the purchaser’s conveyancer submitting questions for the landlord to address. Although the landlord is not legally bound to answer such questions the majority will be willing to do so. They are at liberty levy a reasonable administration fee for answering questions 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 transactions it is in excess of £800. The administration charge invoiced by the landlord must be sent together with a summary of rights and obligations in respect of administration charges, otherwise the invoice is not strictly payable. In reality you have no option but to pay whatever is demanded should you wish to exchange contracts with the buyer.

    When it comes to leasehold conveyancing in Newton Abbot what are the most common lease problems?

    Leasehold conveyancing in Newton Abbot is not unique. All leases are unique and drafting errors can result in certain provisions are not included. 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

    A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, Leeds Building Society, and Clydesdale all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, forcing the buyer to pull out.

    I inherited a leasehold flat in Newton Abbot, conveyancing formalities finalised in 2000. How much will my lease extension cost? Corresponding properties in Newton Abbot with over 90 years remaining are worth £247,000. The ground rent is £60 charged once a year. The lease terminates on 21st October 2102

    With just 78 years left to run we estimate the price of your lease extension to range between £10,500 and £12,000 as well as professional fees.

    The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There may be additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.

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    Lease Extensions in Newton Abbot