Guaranteed fixed fees for Leasehold Conveyancing in Okehampton

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Examples of recent questions relating to leasehold conveyancing in Okehampton

Having had my offer accepted I require leasehold conveyancing in Okehampton. Before diving in I want to be sure as to the remaining lease term.

Assuming the lease is registered - and 99.9% are in Okehampton - 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.

I am hoping to complete next month on a garden flat in Okehampton. Conveyancing solicitors have said that they report fully on Monday. What should I be looking out for?

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

  • You need to be told what counts as a Nuisance in the lease
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • Whether your lease has a provision for a reserve fund?
  • Repair and maintenance of the flat
  • Changes to the flat (alterations and additions)
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building For a comprehensive list of information to be included in your report on your leasehold property in Okehampton please enquire of your lawyer in ahead of your conveyancing in Okehampton

  • I have just started marketing my basement flat in Okehampton.Conveyancing solicitors are to be appointed soon but I have just had a half-yearly maintenance charge demand – Do I pay up?

    Your conveyancing lawyer is likely to suggest that you should 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 managing agents 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.

    What advice can you give us when it comes to appointing a Okehampton conveyancing firm to carry out our lease extension conveyancing?

    When appointing a conveyancer for lease extension works (regardless if they are a Okehampton conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with two or three firms including non Okehampton conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be of use:

    • If they are not ALEP accredited then what is the reason?
  • Can they put you in touch with client in Okehampton who can give a testimonial?

  • Can you provide any advice for leasehold conveyancing in Okehampton with the purpose of saving time on the sale process?

    • Much of the frustration in leasehold conveyancing in Okehampton can be reduced if you appoint lawyers the minute your agents start marketing the property and request that they start to collate the leasehold information needed by the purchasers’ conveyancers.
    • Many freeholders or Management Companies in Okehampton charge for supplying management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Okehampton.
  • In the event that you altered the property did you need the Landlord’s permission? Have you, for example laid down wooden flooring? Okehampton leases often stipulate that internal structural changes or addition of wooden flooring necessitate a licence issued by the Landlord consenting to such alterations. Should you dont have the approvals in place you should not communicate with the landlord without checking with your solicitor first.
  • Some Okehampton leases require Licence to Assign from the landlord. If this applies to your lease, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. The bank reference should make it clear that the buyer is able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their solicitors.
  • If you have the benefit of shareholding in the freehold, you should ensure that you have the original share document. Organising a duplicate share certificate can be a lengthy formality and slows down many a Okehampton home move. Where a duplicate share certificate is necessary, you should approach the company officers or managing agents (if relevant) for this at the earliest opportunity.

  • I inherited a 1 bedroom flat in Okehampton, conveyancing having been completed 2003. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Okehampton with over 90 years remaining are worth £175,000. The ground rent is £60 levied per year. The lease runs out on 21st October 2097

    With only 75 years unexpired we estimate the price of your lease extension to span between £8,600 and £9,800 as well as legals.

    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 without more detailed due diligence. You should not use this information in tribunal or court proceedings. There may be other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Okehampton