Estate agents have just been given the go-ahead to market my 2 bed apartment in Callington.Conveyancing solicitors are to be appointed soon but I have just had a quarterly service charge demand – 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 today plan to offer on a house that appears to be perfect, at a reasonable price which is making it more attractive. I have just found out that the title is leasehold as opposed to freehold. I would have thought that there are issues purchasing a house with a leasehold title in Callington. Conveyancing solicitors have not yet been instructed. Will they explain the issues?

Most houses in Callington are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. it is apparent that you are buying in Callington in which case you should be shopping around for a Callington conveyancing solicitor and be sure that they are used to transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as requiring the freeholder’sconsent to carry out alterations. It may be necessary to pay a contribution towards the maintenance of the estate where the property is located on an estate. Your conveyancer should report to you on the legal implications.

I am a negotiator for a reputable estate agent office in Callington where we have witnessed a number of flat sales derailed due to short leases. I have been given contradictory information from local Callington conveyancing firms. Please can you clarify whether the owner of a flat can start the lease extension process for the purchaser on completion of the sale?

As long as the seller has owned the lease 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 wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.

An alternative approach is 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 purchaser.

Can you provide any top tips for leasehold conveyancing in Callington from the perspective of saving time on the sale process?

• A significant proportion of the delay in leasehold conveyancing in Callington can be reduced where you instruct lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold information which will be required by the purchasers’ conveyancers.
• Many landlords or Management Companies in Callington charge for supplying management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management pack sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Callington.

In the event that you altered the property did you need the Landlord’s approval? In particular have you laid down wooden flooring? Callington leases often stipulate that internal structural changes or laying down wooden flooring necessitate a licence issued by the Landlord approving such alterations. If you fail to have the consents in place you should not contact the landlord without contacting your lawyer first.

Some Callington leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should notify your estate agents to make sure that the purchasers obtain 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 purchasers or their solicitors.

If you have the benefit of shareholding in the freehold, you should ensure that you hold the original share document. Obtaining a duplicate share certificate is often a lengthy process and slows down many a Callington conveyancing deal. If a new share certificate is required, do contact the company director and secretary or managing agents (where applicable) for this as soon as possible.

Completion in due on our sale of a £325000 maisonette in Callington in just under a week. The freeholder has quoted £372 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Callington?

Callington conveyancing on leasehold apartments typically results in administration charges invoiced by managing agents :

• Completing pre-exchange questions
• Where consent is required before sale in Callington
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Callington leasehold premises is £350. For Callington 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 obliged to supply answers.

I bought a 2 bed flat in Callington, conveyancing was carried out half a dozen years ago. How much will my lease extension cost? Corresponding properties in Callington with an extended lease are worth £210,000. The ground rent is £60 invoiced annually. The lease comes to an end on 21st October 2082

You have 57 years unexpired we estimate the premium for your lease extension to be between £24,700 and £28,600 as well as professional fees.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of comprehensive investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.

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Lease Extensions in Callington