Fixed-fee leasehold conveyancing in Teignmouth:

Get a Quote

Require a conveyancing quote from a solicitor for leasehold conveyancing in Teignmouth on your lender’s panel? Use our search tool to find approved local Teignmouth conveyancing lawyers or national solicitors on your lender’s panel .

Examples of recent questions relating to leasehold conveyancing in Teignmouth

Having had my offer accepted I require leasehold conveyancing in Teignmouth. Before diving in I want to be sure as to the remaining lease term.

Assuming the lease is recorded at the land registry - and 99.9% are in Teignmouth - 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.

I am intending to rent out my leasehold apartment in Teignmouth. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

Even though your last Teignmouth conveyancing solicitor is no longer available you can check your lease to see if it allows you to sublet the apartment. The rule is that if the deeds are non-specific, subletting is allowed. There may be a precondition that you need to seek consent from your landlord or some other party in advance of subletting. The net result is you not allowed to sublet without prior consent. The consent is not allowed to be unreasonably refused ore delayed. If the lease prohibits you from letting out the property you should ask your landlord if they are willing to waive this restriction.

I am attracted to a couple of flats in Teignmouth both 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 period of time. As a lease gets shorter the value of the lease deteriorate and results in it becoming more expensive to acquire a lease extension. This is why it is often a good idea to extend the lease term. It is often difficulties arise selling premises with a short lease because mortgage companies may be reluctant to lend money on properties of this type. Lease enfranchisement can be a difficult process. We advise that you seek professional help from a solicitor and surveyor with experience in this field

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

If you are instructing a solicitor for your lease extension (regardless if they are a Teignmouth conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with two or three firms including non Teignmouth conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:

  • How many lease extensions have they conducted in Teignmouth in the last twenty four months?
  • What are the legal fees for lease extension conveyancing?

    • Do you have any advice for leasehold conveyancing in Teignmouth from the point of view of expediting the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Teignmouth can be reduced if you instruct lawyers the minute your agents start advertising the property and ask them to put together the leasehold documentation which will be required by the purchasers’ conveyancers.
    • The majority landlords or managing agents in Teignmouth levy fees for supplying management packs for a leasehold homes. You or your lawyers should find out 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 cause of frustration in leasehold conveyancing in Teignmouth.
  • A minority of Teignmouth leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is able to meet the annual 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 actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.
  • If there is a history of any disputes with your freeholder or managing agents it is very important that these are settled before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a flat where a dispute is unresolved. You will have to accept that you will have to 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 prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is better to reveal the dispute as historic as opposed to unsettled.
  • You may think that you are aware of the number of years left on your lease but you should double-check via your conveyancers. A purchaser's conveyancer will be unlikely to recommend their client to to exchange contracts if the lease term is below 75 years. It is therefore essential at an early stage that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • I purchased a 2 bed flat in Teignmouth, conveyancing formalities finalised in 2009. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Teignmouth with a long lease are worth £210,000. The average or mid-range amount of ground rent is £65 levied per year. The lease terminates on 21st October 2103

    With only 77 years left to run the likely cost is going to span between £10,500 and £12,000 as well as plus your own and the landlord's "reasonable" professional fees.

    The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. You should not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Teignmouth