Experts for Leasehold Conveyancing in Totnes

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Totnes leasehold conveyancing: Q and A’s

I have just started marketing my ground floor apartment in Totnes.Conveyancing solicitors are to be appointed soon but I have just received a quarterly maintenance charge invoice – Do I pay up?

It best that you clear the service charge 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 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. This will smooth the conveyancing process.

Back In 2000, I bought a leasehold house in Totnes. Conveyancing and Barnsley Building Society mortgage organised. I have received a letter from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1991. The conveyancing solicitor in Totnes who previously acted has now retired.Do I pay?

The first thing you should do is make enquiries of HMLR to be sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. You do not need to instruct a Totnes conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

Last month I purchased a leasehold house in Totnes. Am I liable to pay service charges for periods before completion of my purchase?

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 ensure 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 advice for leasehold conveyancing in Totnes with the aim of speeding up the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Totnes can be reduced if you appoint lawyers as soon as you market your property and request that they start to collate the leasehold documentation which will be required by the buyers representatives.
  • The majority freeholders or managing agents in Totnes charge for providing management packs for a leasehold premises. You or your lawyers should enquire as to the fee that they propose to charge. The management pack can be applied for on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Totnes.
  • If you have carried out any alterations to the property would they have required Landlord’s approval? In particular have you installed wooden flooring? Most leases in Totnes state that internal structural alterations or laying down wooden flooring necessitate a licence from the Landlord acquiescing to such works. Where you dont have the consents to hand do not contact the landlord without contacting your conveyancer in advance.
  • Some Totnes 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 bank and professional references. Any bank reference will need to confirm that the buyers are able to meet 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 lawyers.
  • You may think that you are aware of the number of years remaining on your lease but it would be advisable verify this by asking your solicitors. A purchaser's conveyancer will not be happy to advise their client to where the lease term is less than 80 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 home on the market for sale.

  • Completion in due on the sale of our £450000 apartment in Totnes next Thursday . The management company has quoted £408 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in Totnes?

    Totnes conveyancing on leasehold flats usually necessitates administration charges invoiced by management companies :

    • Addressing pre-contract enquiries
    • Where consent is required before sale in Totnes
    • Copies of the building insurance and schedule
    • 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 Totnes leasehold property is £350. For Totnes 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 the information.

    I own a split level flat in Totnes, conveyancing was carried out 10 years ago. Can you work out an approximate cost of a lease extension? Corresponding flats in Totnes with over 90 years remaining are worth £220,000. The ground rent is £45 per annum. The lease expires on 21st October 2102

    You have 77 years unexpired we estimate the premium for your lease extension to span between £8,600 and £9,800 plus costs.

    The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Totnes