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Teignmouth leasehold conveyancing: Q and A’s

Having had my offer accepted I require leasehold conveyancing in Teignmouth. 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 Teignmouth - 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 want to sublet my leasehold flat in Teignmouth. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?

A lease governs the relationship between the landlord and you the leaseholder; specifically, it will say if subletting is banned, or permitted but only subject to certain conditions. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. Most leases in Teignmouth do not contain strict prohibition on subletting – such a clause would undoubtedly devalue the property. In most cases there is simply a requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.

Planning to complete next month on a ground floor flat in Teignmouth. Conveyancing solicitors have said that they will have a report out to me tomorrow. Are there areas in the report that I should be focusing on?

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

  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
  • Defining your legal entitlements in relation to common areas in the building.E.G., does the lease contain a right of way over a path or hallways?
  • Will you be prohibited or prevented from having pets in the property?
  • You need to be told what counts as a Nuisance in the lease
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • You should have a good understanding of the insurance provisions
  • Changes to the flat (alterations and additions) For a comprehensive list of information to be contained in your report on your leasehold property in Teignmouth please enquire of your lawyer in advance of your conveyancing in Teignmouth

    • I have just started marketing my ground floor apartment in Teignmouth.Conveyancing lawyers have not yet been instructed but I have just received a half-yearly service charge demand – Do I pay up?

    Your conveyancing lawyer is likely to suggest that you should discharge 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. Having a clear account will assist your cause and will leave you no worse off financially.

    Do you have any top tips for leasehold conveyancing in Teignmouth with the purpose of expediting the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Teignmouth can be avoided where you appoint lawyers as soon as you market your property and request that they start to put together the leasehold documentation needed by the purchasers’ conveyancers.
    • In the event that you altered the property did you need the Landlord’s permission? In particular have you installed wooden flooring? Teignmouth leases often stipulate that internal structural alterations or laying down wooden flooring require a licence from the Landlord acquiescing to such changes. Where you fail to have the consents in place you should not communicate with the landlord without contacting your lawyer first.
  • If you have had conflict with your freeholder or managing agents it is essential that these are resolved before the property is marketed. The purchasers and their solicitors will be nervous about purchasing a flat where a dispute is unsettled. You will have to accept that you will have to 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 clearly preferable to reveal the dispute as over rather than unsettled.
  • If you hold a share in a the Management Company, you should make sure that you hold the original share document. Organising a new share certificate can be a lengthy formality and delays many a Teignmouth conveyancing transaction. Where a duplicate share certificate is required, you should approach the company officers or managing agents (if relevant) for this sooner rather than later.
  • You may think that you are aware of the number of years left on your lease but it would be wise to verify this via your lawyers. A purchaser's conveyancer will be unlikely to recommend their client to to exchange contracts if the lease term is under 80 years. In the circumstances it is important at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

    • I bought a garden flat in Teignmouth, conveyancing was carried out half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Teignmouth with an extended lease are worth £255,000. The ground rent is £50 invoiced every year. The lease runs out on 21st October 2087

    You have 66 years left to run we estimate the price of your lease extension to be between £11,400 and £13,200 as well as plus your own and the landlord's "reasonable" professional fees.

    The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use this information in tribunal or court proceedings. There may be other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Teignmouth