Fixed-fee leasehold conveyancing in Teignmouth:

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Top Five Questions relating to Teignmouth leasehold conveyancing

I am in need of some leasehold conveyancing in Teignmouth. Before diving in I want to be sure as to the number of years remaining on the lease.

If the lease is recorded at the land registry - and almost all 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 am hoping to complete next month on a ground floor flat in Teignmouth. Conveyancing lawyers have said that they are sending me a report tomorrow. 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:

  • You should receive a copy of the lease
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
  • You need to be told what counts as a Nuisance in the lease
  • You should have a good understanding of the insurance provisions
  • Changes to the flat (alterations and additions)
  • 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
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your property 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 solicitor in advance of your conveyancing in Teignmouth

    • I’m about to sell my basement flat in Teignmouth.Conveyancing is yet to be initiated but I have just had a quarterly service charge invoice – should I leave it to the buyer to sort out?

    It best that you clear 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 managing agents 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.

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

    If you are instructing a solicitor for your lease extension (regardless if they are a Teignmouth conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. 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 might be helpful:

    • How familiar is the firm with lease extension legislation?
  • If the firm is not ALEP accredited then why not?

    • Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £425000 apartment in Teignmouth on Tuesday in a week. The landlords agents has quoted £384 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Teignmouth?

    Teignmouth conveyancing on leasehold flats more often than not requires the buyer’s lawyer submitting enquiries for the landlord to address. Although the landlord is under no legal obligation to answer such questions most will be willing to do so. They are entitled invoice a reasonable charge for answering enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is £350, in some situations it is above £800. The administration charge required by the landlord must be accompanied by a synopsis of entitlements and obligations in respect of administration charges, without which the charge is not strictly payable. In reality you have no choice but to pay whatever is demanded if you want to exchange contracts with the buyer.

    Leasehold Conveyancing in Teignmouth - A selection of Questions you should consider Prior to buying

      Most Teignmouth leasehold properties will have a service bill for maintenance of the building levied by the freeholder. If you purchase the apartment you will have to meet this charge, normally periodically during the year. This may vary from several hundred pounds to thousands of pounds for buildings with lifts and large communal grounds. There will also be a rentcharge to be met annual, ordinarily this is not a large sum, say around £50-£100 but you need to enquire it because occasionally it can be many hundreds of pounds. Where a Teignmouth lease has no more than eighty years it will have adverse implications on the value of the property. It is worth checking with your bank that they are willing to to proceed given the lease term. A short lease means that you will probably need a lease extension at some point and it is worth finding out how much this would cost. For most Teignmouthlease extensions you will need to own the premises for two years in order to be legally able to carry out a lease extension. What is the annual maintenance fee and ground rent?

    Other Topics

    Lease Extensions in Teignmouth