Having had my offer accepted I require leasehold conveyancing in Teignmouth. Before I get started I would like to find out the number of years remaining on the lease.

Assuming the lease is recorded at the land registry - and 99.9% 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.

Due to sign contracts shortly on a basement flat in Teignmouth. Conveyancing lawyers inform me that they will have a report out to me within the next couple of days. Are there areas in the report that I should be focusing on?

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

• 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

The physical extent of the premises. This will be the apartment itself but may include a loft or cellar if appropriate.

Does the lease prevent you from subletting the flat, or working from home

You need to be told what counts as a Nuisance in the lease

You should have a good understanding of the insurance provisions

Repair and maintenance of the flat

Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice? For details of the information to be contained in your report on your leasehold property in Teignmouth please enquire of your lawyer in ahead of your conveyancing in Teignmouth

I am looking at a two apartments in Teignmouth both have in the region of fifty years left on the lease term. Will this present a problem?

There are no two ways about it. A leasehold flat in Teignmouth is a wasting asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it reduces the salability of the premises. For most buyers and lenders, leases with less than 75 years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Teignmouth conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

What are your top tips when it comes to choosing a Teignmouth conveyancing practice to carry out our lease extension conveyancing?

When appointing a conveyancer for your lease extension (regardless if they are a Teignmouth conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with two or three firms including non Teignmouth conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be useful:

• How familiar is the practice with lease extension legislation?

Can they put you in touch with client in Teignmouth who can give a testimonial?

If all goes to plan we aim to complete the disposal of our £200000 maisonette in Teignmouth in just under a week. The landlords agents has quoted £324 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Teignmouth?

For the majority of leasehold sales in Teignmouth 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 conveyancing due diligence enquiries
• Where consent is required before sale in Teignmouth
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Teignmouth leasehold property is £350. For Teignmouth 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 provide the information.

Leasehold Conveyancing in Teignmouth - A selection of Questions you should ask Prior to Purchasing

This information is useful as a) areas could result in problems for the block as the common areas may start to deteriorate if repairs are not paid for b) if the leaseholders have a dispute with the managing agents you will wish to know about it Is the freehold reversion owned collectively by the tenants? On the whole the cost for major works are not wrapped into the service charges, albeit that there some managing agents in Teignmouth ask tenants to pay into a sinking fund and this is used to offset against major repairs or maintenance.

Other Topics

Lease Extensions in Teignmouth