Fixed-fee leasehold conveyancing in Sidmouth:

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Recently asked questions relating to Sidmouth leasehold conveyancing

Planning to complete next month on a garden flat in Sidmouth. Conveyancing solicitors have said that they report fully tomorrow. What should I be looking out for?

The report on title for your leasehold conveyancing in Sidmouth should include some of the following:

  • You should be sent a copy of the lease
  • The unexpired lease term You should be advised as what happens when the lease expires, and aware of the importance of the 80 year mark
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • Does the lease prevent you from renting out the property, or working from home
  • Repair and maintenance of the flat
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be contained in your report on your leasehold property in Sidmouth please enquire of your conveyancer in advance of your conveyancing in Sidmouth

    • I have just appointed agents to market my basement flat in Sidmouth.Conveyancing solicitors are to be appointed soon but I have just had a quarterly maintenance charge invoice – what should I do?

    The sensible thing to do is pay the service charge 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 managing agents will not acknowledge the buyer until 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.

    Back In 2009, I bought a leasehold flat in Sidmouth. Conveyancing and Alliance & Leicester mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1992. The conveyancing solicitor in Sidmouth who acted for me is not around.Any advice?

    The first thing you should do is contact the Land Registry to be sure that the individual claiming to own the freehold is in fact the new freeholder. You do not need to instruct a Sidmouth conveyancing practitioner to do this as you can do this on the Land Registry website for £3. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

    I am attracted to a couple of maisonettes in Sidmouth which have about fifty years remaining on the leases. Do I need to be concerned?

    A lease is a right to use the property for a period of time. As a lease shortens the value of the lease reduces and results in it becoming more costly to extend the lease. For this reason it is generally wise to increase the term of the lease. More often than not it is difficult to sell a property with a short lease because mortgage companies may be reluctant to lend money on properties of this type. Lease extension can be a difficult process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this arena

    Can you provide any top tips for leasehold conveyancing in Sidmouth with the aim of speeding up the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Sidmouth can be reduced if you get in touch lawyers as soon as you market your property and ask them to put together the leasehold documentation needed by the buyers representatives.
    • If you have carried out any alterations to the residence would they have required Landlord’s approval? Have you, for example laid down wooden flooring? Most leases in Sidmouth state that internal structural alterations or laying down wooden flooring calls for a licence issued by the Landlord acquiescing to such changes. Should you dont have the consents in place do not communicate with the landlord without checking with your lawyer in advance.
  • A minority of Sidmouth leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
  • If you have had conflict with your landlord or managing agents it is essential that these are resolved before the property is put on the market. The purchasers and their solicitors will be reluctant to purchase a property where a dispute is unsettled. You may have to bite the bullet and discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is better to reveal the dispute as over rather than unresolved.
  • If you have the benefit of shareholding in the freehold, you should ensure that you have the original share certificate. Arranging a replacement share certificate is often a time consuming process and slows down many a Sidmouth home move. If a reissued share is necessary, do contact the company director and secretary or managing agents (where applicable) for this as soon as possible.

    • Sidmouth Conveyancing for Leasehold Flats - Sample of Questions you should consider Prior to Purchasing

      Many Sidmouth leasehold flats will be liable to pay a service charge for the upkeep of the building levied on behalf of the freeholder. Should you acquire the apartment you will have to meet this charge, usually periodically accross the year. This can be anything from several hundred pounds to thousands of pounds for blocks with lifts and large communal areas. There will also be a ground rent for you to pay annual, this is usually not a significant sum, say approximately £25-£75 but you should to check as on occasion it can be many hundreds of pounds. It is important to be aware whether a new roof is being installed or some other significant cost is pending that will be shared between the tenants and will materially impact the level of the maintenance costs or require a specific payment. What is the name of the managing agents?

    Other Topics

    Lease Extensions in Sidmouth