Leasehold Conveyancing in Ottery St Mary - Get a Quote from the leasehold experts approved by your lender

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Leasehold conveyancing in Ottery St Mary is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Ottery St Mary and throughout next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Top Five Questions relating to Ottery St Mary leasehold conveyancing

I am on look out for some leasehold conveyancing in Ottery St Mary. Before diving in I require certainty as to the unexpired term of the lease.

If the lease is recorded at the land registry - and most are in Ottery St Mary - 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.

Estate agents have just been given the go-ahead to market my garden apartment in Ottery St Mary.Conveyancing is yet to be initiated but I have just received a half-yearly service charge invoice – what should I do?

The sensible thing to do is pay the invoice 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 management companies 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. Having a clear account will assist your cause and will leave you no worse off financially.

I am hoping to put an offer on a small detached house that seems to be perfect, at a great price which is making it more attractive. I have just been informed that the title is leasehold as opposed to freehold. I am assuming that there are issues purchasing a leasehold house in Ottery St Mary. Conveyancing solicitors have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Ottery St Mary ?

Most houses in Ottery St Mary are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. It is clear that you are buying in Ottery St Mary so you should seriously consider shopping around for a Ottery St Mary conveyancing solicitor and check that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a lessee you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as requiring the freeholder’spermission to carry out changes to the property. You may also be required to pay a service charge towards the upkeep of the estate where the house is part of an estate. Your lawyer will appraise you on the various issues.

What are your top tips when it comes to appointing a Ottery St Mary conveyancing firm to carry out our lease extension conveyancing?

When appointing a solicitor for your lease extension (regardless if they are a Ottery St Mary conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We advise that you speak with two or three firms including non Ottery St Mary conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be of use:

  • How familiar is the practice with lease extension legislation?
  • Can they put you in touch with client in Ottery St Mary who can give a testimonial?

    • Do you have any top tips for leasehold conveyancing in Ottery St Mary with the purpose of speeding up the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Ottery St Mary can be reduced if you instruct lawyers the minute your agents start marketing the property and request that they start to put together the leasehold documentation needed by the purchasers’ lawyers.
    • In the event that you altered the property did you need the Landlord’s permission? In particular have you installed wooden flooring? Ottery St Mary leases often stipulate that internal structural changes or laying down wooden flooring necessitate a licence issued by the Landlord acquiescing to such alterations. If you fail to have the paperwork to hand you should not contact the landlord without checking with your solicitor before hand.
  • If you have had conflict with your landlord or managing agents it is very important that these are settled before the property is put on the market. The purchasers and their solicitors will be concerned about purchasing a property where there is a current dispute. You may have to bite the bullet and discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is better to reveal the dispute as over rather than ongoing.
  • If you hold a share in a the freehold, you should ensure that you are holding the original share certificate. Organising a replacement share certificate can be a lengthy formality and slows down many a Ottery St Mary conveyancing transaction. Where a duplicate share certificate is necessary, you should approach the company officers or managing agents (where relevant) for this at the earliest opportunity.
  • You may think that you are aware of the number of years remaining on your lease but it would be advisable verify this via your conveyancers. A buyer’s conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is less than 80 years. In the circumstances it is essential at an early stage that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

    • Ottery St Mary Leasehold Conveyancing - Examples of Questions you should ask Prior to buying

      Best to be warned whether window replacement or some other major work is due in the near future that will be shared between the tenants and could well materially impact the level of the maintenance costs or necessitate a one off invoice. It would be a good idea to find out if the the lease contains any adverse restrictions in the lease. For example some leases prohibit pets being allowed in certain buildings in Ottery St Mary. If you love the flatin Ottery St Mary however your dog can’t move with you then you will be faced hard determination. The prefered form of lease arrangement is a share of the freehold. In this arrangement the leaseholders have control and although a managing agent is frequently retained if it is bigger than a house conversion, the managing agent retained by the leaseholders.

    Other Topics

    Lease Extensions in Ottery St Mary