Fixed-fee leasehold conveyancing in Totnes:

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Leasehold conveyancing in Totnes 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 Totnes and throughout next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Top Five Questions relating to Totnes leasehold conveyancing

Helen (my wife) and I may need to rent out our Totnes ground floor flat temporarily due to a career opportunity. We instructed a Totnes conveyancing firm in 2002 but they have closed and we did not have the foresight to seek any advice as to whether the lease prohibits the subletting of the flat. How do we find out?

Some leases for properties in Totnes do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.

I have just appointed agents to market my ground floor flat in Totnes.Conveyancing is yet to be initiated but I have just received a quarterly service charge demand – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should discharge 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. This will smooth the conveyancing process.

I am tempted by the attractive purchase price for a couple of maisonettes in Totnes which have approximately fifty years remaining on the leases. Will this present a problem?

There are plenty of short leases in Totnes. The lease is a right to use the premises for a period of time. As the lease shortens the marketability of the lease deteriorate and it becomes more expensive to extend the lease. This is why it is often a good idea to increase the term of the lease. More often than not it is difficult to sell a property with a short lease as mortgage lenders may be unwilling to lend money on properties of this type. Lease extension can be a difficult process. We recommend you seek professional help from a conveyancer and surveyor with experience in this arena

What advice can you give us when it comes to choosing a Totnes conveyancing firm to carry out our lease extension conveyancing?

When appointing a property lawyer for your lease extension (regardless if they are a Totnes conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you make enquires with two or three firms including non Totnes conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:

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

    • Do you have any advice for leasehold conveyancing in Totnes from the point of view of saving time on the sale process?

    • Much of the delay in leasehold conveyancing in Totnes can be avoided where you appoint lawyers as soon as you market your property and request that they start to put together the leasehold information needed by the buyers conveyancers.
    • The majority freeholders or Management Companies in Totnes charge for supplying management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Totnes.
  • If you have carried out any alterations to the residence would they have required Landlord’s approval? In particular have you laid down wooden flooring? Most leases in Totnes state that internal structural alterations or addition of wooden flooring calls for a licence issued by the Landlord approving such changes. Where you dont have the approvals in place you should not contact the landlord without checking with your solicitor in the first instance.
  • If you have had conflict with your freeholder or managing agents it is essential that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You may need to swallow your pride and pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is better to present the dispute as historic rather than ongoing.
  • If you are supposed to have a share in the freehold, you should ensure that you are holding the original share certificate. Arranging a re-issued share certificate is often a lengthy process and slows down many a Totnes conveyancing transaction. Where a duplicate share certificate is needed, do contact the company officers or managing agents (if applicable) for this as soon as possible.

    • I invested in buying a studio flat in Totnes, conveyancing was carried out 7 years ago. Can you work out an approximate cost of a lease extension? Similar flats in Totnes with an extended lease are worth £188,000. The ground rent is £50 invoiced every year. The lease runs out on 21st October 2076

    With 51 years unexpired we estimate the premium for your lease extension to span between £35,200 and £40,600 plus plus your own and the landlord's "reasonable" professional fees.

    The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Totnes