I am in need of some leasehold conveyancing in Salcombe. Before I set the wheels in motion I want to be sure as to the remaining lease term.

Assuming the lease is registered - and most are in Salcombe - 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.

There are only Sixty One years left on my flat in Salcombe. I am keen to get lease extension but my landlord is missing. What options are available to me?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. However, you will be required to prove that you or your lawyers have done all that could be expected to track down the landlord. In some cases an enquiry agent may be useful to carry out a search and to produce a report to be accepted by the court as proof that the landlord is indeed missing. It is wise to seek advice from a solicitor in relation to devolving into the landlord’s absence and the vesting order request to the County Court covering Salcombe.

I am attracted to a couple of maisonettes in Salcombe both have about fifty years remaining on the lease term. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Salcombe. The lease is a legal document that entitles you to use the premises for a period of time. As a lease gets shorter the marketability of the lease reduces and results in it becoming more expensive to acquire a lease extension. This is why it is generally wise to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders may be reluctant to lend money on properties of this type. Lease extension can be a protracted process. We advise that you get professional help from a conveyancer and surveyor with experience in this field

Last month I purchased a leasehold property in Salcombe. 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 owner 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 be sure 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).

We expect to complete the disposal of our £200000 flat in Salcombe next week. The landlords agents has quoted £312 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Salcombe?

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

• Answering pre-exchange enquiries
• 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 conveyancer will have no control over the level of the charges for this information but the average costs for the information for Salcombe leasehold premises 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 required to supply the information.

Salcombe Conveyancing for Leasehold Flats - Sample of Queries before Purchasing

The prefered form of lease structure is if the freehold reversion is owned by the leaseholders. In this scenario the tenants benefit from being in charge if their destiny and notwithstanding that a managing agent is frequently employed where the building is larger than a house conversion, the managing agent retained by the leaseholders. Is anyone aware of any major works in the planning that could add a premium to the service costs? Who takes responsibility for maintaining and repairing the block?

Other Topics

Lease Extensions in Salcombe