Having checked my lease I have discovered that there are only Sixty One years unexpired on my lease in Salcombe. I need to get lease extension but my landlord is absent. What should I do?

If you qualify, 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 lengthened by the magistrate. However, you will be required to prove that you or your lawyers have made all reasonable attempts to find the lessor. In some cases an enquiry agent would be helpful to carry out a search and to produce a report to be used as proof that the landlord can not be located. It is wise to seek advice from a conveyancer both on proving the landlord’s absence and the application to the County Court overseeing Salcombe.

I have just appointed agents to market my 2 bed flat in Salcombe.Conveyancing has not commenced but I have just received a yearly service charge invoice – should I leave it to the buyer to sort out?

It best that you 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 unless 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. This will smooth the conveyancing process.

I've found a house that appears to tick a lot of boxes, at a reasonable price which is making it more attractive. I have subsequently been informed that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns buying a leasehold house in Salcombe. Conveyancing advisers have are soon to be instructed. Will my lawyers set out the risks of buying a leasehold house in Salcombe ?

The majority of houses in Salcombe 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. We note that you are purchasing in Salcombe in which case you should be looking for a Salcombe conveyancing solicitor and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as requiring the landlord’spermission to conduct alterations. You may also be required to pay a contribution towards the upkeep of the communal areas where the house is located on an estate. Your solicitor will report to you on the legal implications.

I am attracted to a two maisonettes in Salcombe which have about forty five years unexpired on the lease term. Should I regard a short lease as a deal breaker?

A lease is a right to use the premises for a period of time. As the lease gets shorter the value of the lease reduces and it becomes more costly to acquire a lease extension. This is why it is advisable to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders may be unwilling to lend money on such properties. Lease enfranchisement can be a protracted process. We recommend you seek professional help from a conveyancer and surveyor with experience in this arena

In relation to leasehold conveyancing in Salcombe what are the most common lease defects?

Leasehold conveyancing in Salcombe is not unique. Most leases are individual and drafting errors can sometimes mean that certain provisions are erroneous. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts of the building
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, Coventry Building Society, and Platform Home Loans Ltd all have very detailed 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 buyer to withdraw.

Salcombe Leasehold Conveyancing - Examples of Queries before buying

How many of the leaseholders are in arrears for their maintenance charge payments? The majority of Salcombe leasehold properties will be liable to pay a service bill for maintenance of the block set by the freeholder. Where you purchase the property you will have to pay this charge, usually in instalments throughout the year. This could differ from a few hundred pounds to thousands of pounds for large purpose-built buildings. There will also be a ground rent for you to pay annual, this is usually not a exorbitant sum, say approximately £50-£100 but you need to enquire it because occasionally it can be many hundreds of pounds.