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

If the lease is recorded at the land registry - and almost all are in Tavistock - 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.

I have recently realised that I have 72 years left on my flat in Tavistock. I now wish to extend my lease but my freeholder is absent. What options are available to me?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply 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. You will be obliged to demonstrate that you have made all reasonable attempts to track down the freeholder. For most situations a specialist would be useful to try and locate and to produce a report to be accepted by the court as evidence that the landlord can not be located. It is wise to seek advice from a solicitor both on investigating the landlord’s absence and the application to the County Court overseeing Tavistock.

I am tempted by the attractive purchase price for a couple of apartments in Tavistock which have approximately forty five years unexpired on the lease term. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Tavistock. The lease is a right to use the property for a period of time. As the lease shortens the saleability of the lease reduces and it becomes more expensive to extend the lease. This is why it is often a good idea to increase the term of the lease. It is often difficulties arise selling premises with a short lease as mortgage companies may be unwilling to lend money on properties of this type. Lease extension can be a difficult process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this area

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

When appointing a conveyancer for lease extension works (regardless if they are a Tavistock conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with two or three firms including non Tavistock conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:

• If they are not ALEP accredited then why not?
• Can they put you in touch with client in Tavistock who can give a testimonial?

Can you provide any top tips for leasehold conveyancing in Tavistock from the point of view of saving time on the sale process?

• A significant proportion of the delay in leasehold conveyancing in Tavistock can be reduced if you instruct lawyers the minute you market your property and ask them to collate the leasehold information which will be required by the purchasers’ lawyers.
• Many freeholders or Management Companies in Tavistock 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 pack sought on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Tavistock.
• A minority of Tavistock leases require Licence to Assign from the landlord. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference will need to confirm that the buyers are 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 purchasers or their solicitors.
• If there is a history of any disputes with your landlord or managing agents it is essential that these are resolved prior to the flat being marketed. The purchasers and their solicitors will be concerned about purchasing a flat where a dispute is unresolved. You may have to bite the bullet and pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is better to present the dispute as over as opposed to unresolved.
• You may think that you are aware of the number of years remaining on your lease but it would be advisable verify this via your lawyers. A purchaser's conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is under 80 years. It is therefore essential at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

Tavistock Conveyancing for Leasehold Flats - A selection of Queries before buying

Many Tavistock leasehold properties will incur a service charge for the upkeep of the block invoiced on behalf of the management company. Should you buy the property you will have to meet this charge, normally in instalments accross the year. This may vary from a couple of hundred pounds to thousands of pounds for bigger purpose-built blocks. In all probability there will be a rentcharge for you to pay yearly, this is usually not a significant figure, say approximately £25-£75 but you should to enquire it because occasionally it can be prohibitively expensive. It would be prudent to discover as much as you can about the managing agents as they will affect your use and enjoyment of the property. Being a leasehold owner you are frequently in the clutches of the managing agents both financially and when it comes to practical issues such as the tidiness of the common parts. Ask other tenants what they think of them. In conclusion, be sure you discover the dates that you are obliged pay the maintenance charge to the appropriate party and specifically how they are spending that money.