Leasehold Conveyancing in Salcombe - Get a Quote from the leasehold experts approved by your lender

When it comes to leasehold conveyancing in Salcombe, you will need to chose a conveyancing lawyer with leasehold experience. Whether your lender is to be Santander, Yorkshire Building Society or NatWest be sure to find a lawyer on their panel. Feel free to use our search tool

Salcombe leasehold conveyancing: Q and A’s

My wife and I purchased a leasehold house in Salcombe. Conveyancing and Nottingham Building Society mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1991. The conveyancing practitioner in Salcombe who acted for me is not around.What should I do?

First contact HMLR to make sure that the individual claiming to own the freehold is indeed the new freeholder. You do not need to instruct a Salcombe conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

Can you offer any advice when it comes to appointing a Salcombe conveyancing firm to deal with our lease extension?

If you are instructing a conveyancer for lease extension works (regardless if they are a Salcombe conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with several firms including non Salcombe conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:

  • How experienced is the firm with lease extension legislation?
  • What volume of lease extensions has the firm carried out in Salcombe in the last twenty four months?

  • Can you provide any top tips for leasehold conveyancing in Salcombe from the point of view of expediting the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Salcombe can be bypassed if you instruct lawyers the minute you market your property and request that they start to collate the leasehold documentation which will be required by the purchasers’ solicitors.
    • The majority freeholders or Management Companies in Salcombe levy fees for providing management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management information sought as soon as you have a buyer, thus reducing delays. 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 Salcombe.
  • If you have carried out any alterations to the premises would they have required Landlord’s permission? In particular have you laid down wooden flooring? Salcombe leases often stipulate that internal structural changes or installing wooden flooring calls for a licence from the Landlord consenting to such alterations. If you dont have the consents to hand you should not contact the landlord without contacting 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. Obtaining a duplicate share certificate is often a lengthy process and delays many a Salcombe conveyancing deal. Where a reissued share certificate is required, you should approach the company director and secretary or managing agents (if relevant) for this at the earliest opportunity.
  • You believe that you know the number of years left on your lease but you should verify this by asking your lawyers. A buyer’s lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is below 75 years. In the circumstances it is important at an early stage that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

  • Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £475000 apartment in Salcombe in nine days. The freeholder has quoted £396 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Salcombe?

    For the majority of leasehold sales in Salcombe conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

    • Addressing pre-exchange questions
    • Where consent is required before sale in Salcombe
    • Supplying insurance information
    • Deeds of covenant upon sale
    • Registering of the assignment of the change of lessee after a sale
    Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Salcombe leasehold property is £350. For Salcombe conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to supply answers.

    What makes a Salcombe lease problematic?

    Leasehold conveyancing in Salcombe is not unique. All leases are unique and legal mistakes in the legal wording can result in certain provisions are wrong. 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

    You will have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Nationwide Building Society, Chelsea Building Society, and Platform Home Loans Ltd all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, obliging the buyer to withdraw.

    Leasehold Conveyancing in Salcombe - Sample of Questions you should consider before Purchasing

      This question is helpful as a) areas may cause problems for the building as the common areas may begin to deteriorate if repairs are not paid for b) if the leasehold owners have a dispute with the managing agents you will need to have all the details It would be wise to find out as much as possible concerning the company managing the block as they will either make life much simpler or uncomfortable. As the owner of a leasehold property you are often in the clutches of the managing agents from a financial perspective and when it comes to every day issues like the upkeep of the communal areas. Ask prospective neighbours what they think of them. On a final note, investigate as to the dates that you are obliged pay the maintenance charge to the managing agents and precisely what it includes. Does the lease have onerous restrictions?

    Other Topics

    Lease Extensions in Salcombe