I wish to let out my leasehold flat in Salcombe. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

Even though your last Salcombe conveyancing lawyer is no longer around you can check your lease to check if you are permitted to let out the property. The rule is that if the deeds are silent, subletting is allowed. Quite often there is a prerequisite that you need to obtain permission via your landlord or other appropriate person before subletting. This means you not allowed to sublet without prior consent. The consent is not allowed to be unreasonably withheld. If the lease does not allow you to sublet you should ask your landlord if they are willing to waive this restriction.

There are only 72 years unexpired on my lease in Salcombe. I am keen to get lease extension but my landlord is can not be found. What options are available to me?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. You will be obliged to prove that you or your lawyers have done all that could be expected to locate the lessor. For most situations an enquiry agent would be useful to conduct investigations and to produce a report which can be accepted by the court as evidence that the landlord is indeed missing. 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 Salcombe.

I today plan to offer on a house that seems to be perfect, at a reasonable figure which is making it more attractive. I have just discovered that the title is leasehold rather than freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Salcombe. Conveyancing solicitors have not yet been appointed. Will they explain the issues?

The majority of houses in Salcombe are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. it is apparent that you are purchasing in Salcombe so you should seriously consider shopping around for a Salcombe conveyancing solicitor and check that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example requiring the freeholder’spermission to carry out alterations. It may be necessary to pay a contribution towards the upkeep of the communal areas where the house is located on an estate. Your solicitor should appraise you on the various issues.

I am tempted by the attractive purchase price for a couple of flats in Salcombe which have about fifty years left on the lease term. Do I need to be concerned?

There are plenty of short leases in Salcombe. The lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease shortens the marketability of the lease deteriorate and it becomes more costly to acquire a lease extension. For this reason it is often a good idea to increase the term of the lease. It is often difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease extension can be a protracted process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this area

What makes a Salcombe lease defective?

Leasehold conveyancing in Salcombe is not unique. All leases are unique and drafting errors can result in certain clauses are missing. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain parts of the property
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, Barnsley Building Society, and Aldermore all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, obliging the purchaser to withdraw.

Salcombe Leasehold Conveyancing - Sample of Questions you should ask Prior to buying

Be sure to investigate if there is anything that is prohibited in the lease. For example it is fairly common in Salcombe leases that pets are not permitted in certain buildings in Salcombe. If you love the apartmentin Salcombe yet your cat is not allowed to live with you then you will be presented with a hard determination. Plenty Salcombe leasehold properties will incur a service bill for maintenance of the block invoiced by the freeholder. Where you acquire the flat you will have to pay this liability, normally in instalments during the year. This can be anything from several hundred pounds to thousands of pounds for large purpose-built blocks. There will also be a rentcharge to be met annual, ordinarily this is not a large sum, say around £25-£75 but you should to enquire it because on occasion it could be prohibitively expensive. Is the freehold owned collectively by the leaseholders?

Other Topics

Lease Extensions in Salcombe