Having had my offer accepted I require leasehold conveyancing in Lynmouth. Before diving in I would like to find out the unexpired term of the lease.

Assuming the lease is recorded at the land registry - and almost all are in Lynmouth - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

Frank (my husband) and I may need to rent out our Lynmouth basement flat temporarily due to a career opportunity. We instructed a Lynmouth conveyancing firm in 2004 but they have closed and we did not think at the time get any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?

Even though your previous Lynmouth conveyancing solicitor is not around you can check your lease to check if you are permitted to let out the apartment. The rule is that if the lease is silent, subletting is permitted. Quite often there is a prerequisite that you need to obtain permission via your landlord or some other party prior to subletting. This means you not allowed to sublet without first obtaining permission. Such consent is not allowed to be unreasonably refused ore delayed. If your lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.

Estate agents have just been given the go-ahead to market my 2 bed apartment in Lynmouth.Conveyancing solicitors are to be appointed soon but I have just had a yearly service charge invoice – what should I do?

Your conveyancing lawyer is likely to suggest that you should clear 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 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. Having a clear account will assist your cause and will leave you no worse off financially.

I am employed by a reputable estate agency in Lynmouth where we see a number of leasehold sales derailed due to leases having less than 80 years remaining. I have been given conflicting advice from local Lynmouth conveyancing firms. Can you confirm whether the seller of a flat can start the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.

Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

What are the common deficiencies that you see in leases for Lynmouth properties?

There is nothing unique about leasehold conveyancing in Lynmouth. Most leases are individual and legal mistakes in the legal wording can result in certain sections are not included. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts of the property
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Bank of Scotland, and Clydesdale all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, obliging the buyer to withdraw.

Lynmouth Conveyancing for Leasehold Flats - Examples of Queries before Purchasing

The prefered form of lease structure is a share of the freehold. In this arrangement the tenants benefit from being in charge if their destiny and even though a managing agent is frequently retained if the building is bigger than a house conversion, the managing agent acts for the leaseholders themselves. Be sure to find out if the the lease contains any adverse restrictions in the lease. By way of example it is reasonably common in Lynmouth leases that pets are not allowed in certain buildings in Lynmouth. If you love the propertyin Lynmouth yet your cat is not allowed to make the move with you then you will be faced hard decision. How long is the Lease?

Other Topics

Lease Extensions in Lynmouth