Fixed-fee leasehold conveyancing in Okehampton:

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When it comes to leasehold conveyancing in Okehampton, you will need to chose a conveyancing solicitor with leasehold experience. Whether your mortgage company is to be Lloyds, RBS or Bradford & Bingley be sure to find a lawyer on their panel. Find a Okehampton conveyancing lawyer with our search tool

Frequently asked questions relating to Okehampton leasehold conveyancing

There are only Fifty years unexpired on my flat in Okehampton. I am keen to get lease extension but my freeholder is missing. What should I do?

On the basis that you qualify, 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 lengthened by the magistrate. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to find the lessor. On the whole a specialist may be useful to try and locate and to produce an expert document to be used as proof that the freeholder can not be located. It is advisable to get professional help from a conveyancer in relation to proving the landlord’s disappearance and the application to the County Court covering Okehampton.

I’m about to sell my 2 bed flat in Okehampton.Conveyancing is yet to be initiated but I have just had a quarterly service charge demand – what should I do?

Your conveyancing lawyer is likely to suggest that you should pay 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 unless 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.

My wife and I purchased a leasehold flat in Okehampton. Conveyancing and Aldermore mortgage went though with no issue. 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 1995. The conveyancing solicitor in Okehampton who acted for me is not around.What should I do?

The first thing you should do is make enquiries of HMLR to be sure that this person is in fact the new freeholder. You do not need to instruct a Okehampton conveyancing solicitor to do this as it can be done on-line for a few pound. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am a negotiator for a busy estate agent office in Okehampton where we see a number of leasehold sales derailed as a result of short leases. I have received conflicting advice from local Okehampton conveyancing firms. Please can you shed some light as to whether the seller of a flat can start the lease extension process for the buyer?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

Do you have any advice for leasehold conveyancing in Okehampton with the aim of speeding up the sale process?

  • Much of the frustration in leasehold conveyancing in Okehampton can be avoided if you get in touch lawyers the minute your agents start advertising the property and request that they start to collate the leasehold documentation which will be required by the purchasers’ representatives.
  • Many freeholders or Management Companies in Okehampton charge for providing management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management information sought as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Okehampton.
  • In the event that you altered the property did you need the Landlord’s approval? Have you, for example installed wooden flooring? Most leases in Okehampton state that internal structural changes or installing wooden flooring require a licence from the Landlord acquiescing to such works. Should you dont have the paperwork in place you should not contact the landlord without checking with your lawyer in the first instance.
  • If you have the benefit of shareholding in the Management Company, you should ensure that you are holding the original share document. Arranging a new share certificate is often a time consuming formality and frustrates many a Okehampton home move. If a duplicate share is necessary, you should approach the company officers or managing agents (if relevant) for this as soon as possible.
  • You may think that you are aware of the number of years left on your lease but it would be wise to double-check via your lawyers. A buyer’s lawyer will not be happy to advise their client to where the lease term is below 75 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.

    • Leasehold Conveyancing in Okehampton - Examples of Questions you should consider before buying

      How many of the leaseholders are in arrears for their service charge payments? Where a Okehampton lease has less than eighty years it will impact the marketability of the property. Check with your lender that they are willing to go ahead with the loan given the lease term. A short lease means that you will almost definitely require a lease extension sooner rather than later and you need to have some idea of how much this would cost. Remember, in most cases you would be be obliged to have been the owner of the premises for a couple of years before you are eligible to exercise a lease extension. In the main the cost for major works are not included within maintenance charges, albeit that some managing agents in Okehampton require tenants to pay into a sinking fund and this is used to offset against major works.

    Other Topics

    Lease Extensions in Okehampton