I am on look out for some leasehold conveyancing in Okehampton. Before diving in I would like to find out the unexpired term of the lease.

If the lease is registered - and most 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.

There are only Fifty years remaining on my flat in Okehampton. I now wish to get lease extension but my landlord is missing. What options are available to me?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. However, you will be required to prove that you have done all that could be expected to locate the freeholder. On the whole a specialist may be useful to try and locate and to produce a report to be used as evidence that the landlord is indeed missing. It is advisable to get professional help from a conveyancer both on investigating the landlord’s disappearance and the vesting order request to the County Court overseeing Okehampton.

I am hoping to put an offer on a small detached house that appears to meet my requirements, at a great figure which is making it all the more appealing. I have just found out that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Okehampton. Conveyancing solicitors have are about to be appointed. Will they explain the issues?

The majority of houses in Okehampton 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 Okehampton in which case you should be shopping around for a Okehampton conveyancing solicitor and be sure that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. As a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’sconsent to conduct alterations. You may also be required to pay a service charge towards the upkeep of the estate where the house is located on an estate. Your lawyer should appraise you on the various issues.

What are your top tips when it comes to appointing a Okehampton conveyancing firm to deal with our lease extension?

If you are instructing a solicitor for your lease extension (regardless if they are a Okehampton conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise 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 helpful:

• How experienced is the firm with lease extension legislation?

We expect to complete the disposal of our £225000 garden flat in Okehampton in just under a week. The freeholder has quoted £384 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Okehampton?

Okehampton conveyancing on leasehold apartments normally necessitates the purchaser’s conveyancer sending questions for the landlord to address. Although the landlord is not legally bound to address such questions most will be willing to assist. They are entitled charge a reasonable administration fee for responding to questions or supplying documentation. There is no set fee. The average costs for the information that you are referring to is over three hundred pounds, in some cases it is above £800. The administration charge invoiced by the landlord must be sent together with a summary of rights and obligations in relation to administration charges, otherwise the invoice is technically not due. In reality one has no option but to pay whatever is demanded if you want to sell the property.

Okehampton Leasehold Conveyancing - A selection of Questions you should consider Prior to Purchasing

Does the lease include onerous restrictions? Many Okehampton leasehold properties will be liable to pay a service charge for maintenance of the building set on behalf of the freeholder. If you purchase the flat you will have to meet this contribution, usually periodically throughout the year. This could be anything from a couple of hundred pounds to thousands of pounds for large purpose-built blocks. In all likelihood there will be a ground rent to be met annual, ordinarily this is not a significant sum, say about £50-£100 but you need to check it because on occasion it can be many hundreds of pounds. You will want to find out as much as possible concerning the managing agents as they can either make life much simpler or a lot more difficult. Being a leasehold owner you will be at the mercy of the managing agents from a financial perspective and when it comes to day to day issues like the cleanliness of the communal areas. Enquire of prospective neighbours whether they are happy with them. On a final note, be sure you discover the dates that the service charges are due to the relevant party and precisely what you get for your money.

Other Topics

Lease Extensions in Okehampton