Guaranteed fixed fees for Leasehold Conveyancing in Ottery St Mary

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Any conveyancing practice can theoretically handle your leasehold conveyancing in Ottery St Mary, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Top Five Questions relating to Ottery St Mary leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Ottery St Mary. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.

Assuming the lease is recorded at the land registry - and 99.9% are in Ottery St Mary - 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 put an offer on a small detached house that seems to be perfect, at a reasonable price which is making it all the more appealing. I have subsequently been informed that the title is leasehold rather than freehold. I am assuming that there are issues purchasing a leasehold house in Ottery St Mary. Conveyancing lawyers have are soon to be appointed. Will they explain the issues?

The majority of houses in Ottery St Mary are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help 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 practitioner and be sure that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as obtaining the freeholder’spermission to conduct alterations. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the house is located on an estate. Your lawyer should advise you fully on all the issues.

I own a leasehold house in Ottery St Mary. Conveyancing and TSB mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1998. The conveyancing solicitor in Ottery St Mary who previously acted has now retired.Do I pay?

The first thing you should do is make enquiries of the Land Registry to make sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. You do not need to instruct a Ottery St Mary conveyancing practitioner to do this as it can be done on-line for less than a fiver. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

Last month I purchased a leasehold flat in Ottery St Mary. Am I liable to pay service charges relating to a period prior to completion of my purchase?

In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

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

  • Much of the delay in leasehold conveyancing in Ottery St Mary can be bypassed where you get in touch lawyers the minute you market your property and ask them to put together the leasehold documentation needed by the purchasers’ conveyancers.
  • Many freeholders or Management Companies in Ottery St Mary charge for supplying management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Ottery St Mary.
  • If there is a history of any disputes with your freeholder or managing agents it is very important that these are settled before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a property where there is a current dispute. You may have to bite the bullet and pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is clearly preferable to present the dispute as historic rather than ongoing.
  • If you hold a share in a the freehold, you should make sure that you have the original share document. Obtaining a duplicate share certificate can be a time consuming process and delays many a Ottery St Mary home move. Where a new share certificate is needed, you should approach the company officers or managing agents (where applicable) for this as soon as possible.
  • You may think that you are aware of the number of years left on your lease but you should double-check by asking your solicitors. A buyer’s conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is less than 80 years. In the circumstances it is essential at an early stage that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

    • Ottery St Mary Leasehold Conveyancing - Sample of Questions you should ask before Purchasing

      What prohibitions are there in the Ottery St Mary Lease? How many of the leaseholders are in arrears for their maintenance charge payments? What is the name of the managing agents?

    Other Topics

    Lease Extensions in Ottery St Mary