Fixed-fee leasehold conveyancing in Tiverton:

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When it comes to leasehold conveyancing in Tiverton, you will need to instruct a conveyancing practitioner with leasehold experience. Whether your mortgage company is to be Halifax, Birmingham Midshires or Bradford & Bingley be sure to find a lawyer on their approved list. Feel free to use our search tool

Top Five Questions relating to Tiverton leasehold conveyancing

My fiance and I may need to let out our Tiverton ground floor flat for a while due to taking a sabbatical. We instructed a Tiverton conveyancing practice in 2004 but they have closed and we did not think at the time get any advice as to whether the lease allows us to sublet. How do we find out?

Even though your last Tiverton conveyancing solicitor is not around you can review your lease to see if it allows you to sublet the property. The accepted inference is that if the lease is silent, subletting is allowed. Quite often there is a prerequisite that you need to seek consent via your landlord or some other party before subletting. The net result is that you cannot sublet without prior consent. The consent must not not be unreasonably turned down. If the lease does not allow you to sublet you should ask your landlord if they are willing to waive this restriction.

Looking forward to exchange soon on a garden flat in Tiverton. Conveyancing solicitors assured me 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 Tiverton should include some of the following:

  • You should be sent a copy of the lease
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
  • Repair and maintenance of the flat
  • 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
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be contained in your report on your leasehold property in Tiverton please enquire of your solicitor in ahead of your conveyancing in Tiverton

    • I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have subsequently discovered that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Tiverton. Conveyancing solicitors have not yet been appointed. Will they explain the issues?

    The majority of houses in Tiverton are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Tiverton so you should seriously consider looking for a Tiverton conveyancing practitioner and be sure that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as obtaining the landlord’sconsent to conduct alterations. It may be necessary to pay a service charge towards the upkeep of the estate where the house is located on an estate. Your solicitor will advise you fully on all the issues.

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

    • Much of the frustration in leasehold conveyancing in Tiverton can be reduced if you appoint lawyers the minute you market your property and request that they start to collate the leasehold information which will be required by the purchasers’ solicitors.
    • The majority freeholders or managing agents in Tiverton charge for supplying management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management information sought 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 cause of delay in leasehold conveyancing in Tiverton.
  • In the event that you altered the property did you need the Landlord’s approval? Have you, for example laid down wooden flooring? Tiverton leases often stipulate that internal structural alterations or addition of wooden flooring calls for a licence issued by the Landlord consenting to such changes. If you dont have the paperwork to hand you should not communicate with the landlord without checking with your conveyancer before hand.
  • A minority of Tiverton leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. The bank reference should make it clear that the buyer is financially capable of paying the yearly 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 service charge figures so that they can pass this information on to the purchasers or their solicitors.
  • If you have had any disputes with your landlord or managing agents it is essential that these are settled prior to the flat being marketed. The buyers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You will have to accept that you will have to discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. 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 particulars of the dispute to the buyers, but it is better to present the dispute as historic rather than unsettled.

    • Are there common deficiencies that you encounter in leases for Tiverton properties?

    There is nothing unique about leasehold conveyancing in Tiverton. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain provisions are wrong. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain parts of the building
    • 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 can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , Coventry Building Society, and Bank of Ireland all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, obliging the buyer to pull out.

    I bought a basement flat in Tiverton, conveyancing was carried out 7 years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Tiverton with a long lease are worth £182,000. The ground rent is £50 yearly. The lease finishes on 21st October 2101

    With 76 years remaining on your lease we estimate the premium for your lease extension to span between £8,600 and £9,800 plus costs.

    The figure above a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Tiverton