Planning to complete next month on a basement flat in Tiverton. Conveyancing solicitors inform me that they will have a report out to me within the next couple of days. What should I be looking out for?

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

• Ground rent - how much and when you need to pay, and also know whether this is subject to change

An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has

Whether your lease has a provision for a reserve fund?

Changes to the flat (alterations and additions)

Responsibility for repairing the window frames

What options are open to you if a neighbour is in violation of a provision in their lease?

What the implications are if you breach a clause of your lease? For details of the information to be contained in your report on your leasehold property in Tiverton please enquire of your conveyancer in ahead of your conveyancing in Tiverton

My wife and I purchased a leasehold house in Tiverton. Conveyancing and Barnsley Building Society mortgage organised. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1992. The conveyancing solicitor in Tiverton who acted for me is not around.Any advice?

The first thing you should do is contact the Land Registry to make sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. There is no need to instruct a Tiverton conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. You should note 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 am tempted by the attractive purchase price for a couple of apartments in Tiverton which have approximately fifty years remaining on the lease term. Will this present a problem?

A lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease shortens the saleability of the lease reduces and results in it becoming more costly to extend the lease. For this reason it is advisable to extend the lease term. Sometimes it is difficult to sell a property with a short lease because mortgage lenders may be unwilling to lend money on such properties. Lease enfranchisement can be a difficult process. We recommend you seek professional help from a solicitor and surveyor with experience in this area

We expect to complete our sale of a £325000 apartment in Tiverton in nine days. The landlords agents has quoted £420 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Tiverton?

Tiverton conveyancing on leasehold apartments usually necessitates fees being levied by management companies :

• Addressing pre-contract enquiries
• Where consent is required before sale in Tiverton
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Tiverton leasehold property is £350. For Tiverton 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 supply answers.

When it comes to leasehold conveyancing in Tiverton what are the most common lease defects?

Leasehold conveyancing in Tiverton is not unique. Most leases is drafted differently and legal mistakes in the legal wording can result in certain provisions are wrong. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts of the premises
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, The Royal Bank of Scotland, and Aldermore all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, obliging the purchaser to pull out.

I am the registered owner of a leasehold flat in Tiverton, conveyancing was carried out 2004. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Tiverton with a long lease are worth £240,000. The ground rent is £50 per annum. The lease ceases on 21st October 2095

With just 70 years remaining on your lease we estimate the premium for your lease extension to range between £8,600 and £9,800 plus professional fees.

The suggested premium range above 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 the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.

Other Topics

Lease Extensions in Tiverton