Leasehold Conveyancing in Templecombe - Get a Quote from the leasehold experts approved by your lender

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Leasehold conveyancing in Templecombe is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Templecombe and throughout next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Sample questions relating to Templecombe leasehold conveyancing

My fiance and I may need to let out our Templecombe basement flat temporarily due to a career opportunity. We used a Templecombe conveyancing practice in 2001 but they have closed and we did not have the foresight to get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?

Notwithstanding that your previous Templecombe conveyancing lawyer is not available you can check your lease to check if it allows you to sublet the premises. The rule is that if the deeds are non-specific, subletting is allowed. Quite often there is a prerequisite that you must obtain permission via your landlord or other appropriate person prior to subletting. The net result is that you cannot sublet in the absence of first obtaining permission. The consent must not not be unreasonably withheld. If the lease prohibits you from subletting the property you should ask your landlord if they are willing to waive this restriction.

I have just started marketing my basement flat in Templecombe.Conveyancing has not commenced but I have just had a half-yearly maintenance charge invoice – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should pay 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 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.

My wife and I purchased a leasehold house in Templecombe. Conveyancing and The Mortgage Works mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1998. The conveyancing practitioner in Templecombe who acted for me is not around.What should I do?

First make enquiries of HMLR to make sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. You do not need to instruct a Templecombe conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I've recently bought a leasehold house in Templecombe. Do I have any liability for service charges relating to a period prior to my ownership?

In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Can you provide any top tips for leasehold conveyancing in Templecombe from the perspective of speeding up the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Templecombe can be reduced where you instruct lawyers as soon as you market your property and request that they start to collate the leasehold information needed by the purchasers’ conveyancers.
  • Many landlords or Management Companies in Templecombe levy fees for supplying management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Templecombe.
  • A minority of Templecombe 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 obtain bank and professional references. The bank reference will need to confirm that the buyers are able to meet the annual 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 you are supposed to have a share in the Management Company, you should make sure that you have the original share certificate. Organising a duplicate share certificate can be a lengthy formality and frustrates many a Templecombe home move. Where a reissued share certificate is needed, you should approach the company director and secretary or managing agents (if relevant) for this at the earliest opportunity.
  • You believe that you know the number of years left on your lease but it would be advisable verify this via your solicitors. A buyer’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 less than 75 years. In the circumstances it is important at an as soon as possible that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • Templecombe Leasehold Conveyancing - Examples of Queries before Purchasing

      For many Templecombe leaseholds the cost for major works are not included within maintenance charges, although a few managing agents in Templecombe obliged leasehold owners to contribute towards a reserve fund created for the specific purpose of building a fund for larger works. How is the lease structured? Make sure you investigate if the the lease contains any adverse restrictions in the lease. For instance it is very common in Templecombe leases that pets are not permitted in in a block in Templecombe. If you like the flatin Templecombe yet your dog can’t make the move with you then you will be presented with a difficult determination.

    Other Topics

    Lease Extensions in Templecombe