I am hoping to put an offer on a small detached house that seems to meet my requirements, at a reasonable price which is making it all the more appealing. I have since found out that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Boscastle. Conveyancing advisers have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Boscastle ?

Most houses in Boscastle are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Boscastle in which case you should be looking for a Boscastle conveyancing solicitor and be sure that they are used to dealing with leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example requiring the freeholder’spermission to carry out alterations. It may be necessary to pay a contribution towards the upkeep of the estate where the property is part of an estate. Your solicitor will appraise you on the various issues.

Last month I purchased a leasehold property in Boscastle. Do I have any liability for service charges relating to a period prior to completion of my purchase?

In a situation 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 be sure 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).

I work for a busy estate agent office in Boscastle where we see a few leasehold sales jeopardised due to leases having less than 80 years remaining. I have been given contradictory information from local Boscastle conveyancing firms. Please can you clarify whether the owner of a flat can start the lease extension formalities for the buyer?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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.

Can you provide any top tips for leasehold conveyancing in Boscastle from the point of view of saving time on the sale process?

• Much of the delay in leasehold conveyancing in Boscastle can be bypassed if you get in touch lawyers as soon as you market your property and request that they start to collate the leasehold information which will be required by the purchasers’ lawyers.
• The majority freeholders or Management Companies in Boscastle charge for supplying management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Boscastle.
• In the event that you altered the property did you need the Landlord’s approval? In particular have you installed wooden flooring? Boscastle leases often stipulate that internal structural alterations or laying down wooden flooring necessitate a licence issued by the Landlord approving such alterations. If you fail to have the approvals in place do not contact the landlord without contacting your solicitor in the first instance.
• If you are supposed to have a share in the freehold, you should make sure that you are holding the original share document. Obtaining a re-issued share certificate is often a lengthy formality and slows down many a Boscastle home move. If a duplicate share certificate is required, do contact the company officers or managing agents (where relevant) for this as soon as possible.
• You may think that you are aware of the number of years left on your lease but you should verify this by asking your conveyancers. A buyer’s conveyancer will not be happy to advise their client to to exchange contracts if the remaining number of years is less than 75 years. In the circumstances it is important at an early stage that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

We expect to complete the sale of our £ 125000 maisonette in Boscastle next week. The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Boscastle?

Boscastle conveyancing on leasehold apartments often necessitates the purchaser’s conveyancer sending enquiries for the landlord to answer. Although the landlord is under no legal obligation to respond to such questions the majority will be content to assist. They are entitled invoice a reasonable charge for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is over three hundred pounds, in some transactions it is in excess of £800. The management information fee levied by the landlord must be accompanied by a synopsis of entitlements and obligations in relation to administration fees, otherwise the invoice is technically not due. In reality you have no choice but to pay whatever is requested of you should you wish to exchange contracts with the buyer.

I invested in buying a leasehold flat in Boscastle, conveyancing formalities finalised 8 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable flats in Boscastle with a long lease are worth £190,000. The ground rent is £60 per annum. The lease expires on 21st October 2085

You have 59 years left to run the likely cost is going to range between £21,900 and £25,200 plus legals.

The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed due diligence. You should 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 want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.