I am on look out for some leasehold conveyancing in Camborne. Before I set the wheels in motion I would like to find out the unexpired term of the lease.

Assuming the lease is recorded at the land registry - and 99.9% are in Camborne - 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 hoping to complete next month on a basement flat in Camborne. Conveyancing lawyers have said that they are sending me a report on Monday. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Camborne should include some of the following:

• The length of the lease term You should be advised as what happens when the lease expires, and aware of the importance of not letting the lease term falling below eighty years

I am tempted by the attractive purchase price for a couple of apartments in Camborne which have approximately 50 years remaining on the lease term. Will this present a problem?

There are no two ways about it. A leasehold apartment in Camborne is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it reduces the salability of the premises. The majority of buyers and mortgage companies, leases with under 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Camborne conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

I've recently bought a leasehold property in Camborne. Do I have any liability for service charges relating to a period prior to my ownership?

In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part 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).

If all goes to plan we aim to complete the disposal of our £375000 garden flat in Camborne next week. The managing agents has quoted £324 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Camborne?

Camborne conveyancing on leasehold flats normally necessitates the purchaser’s lawyer sending questions for the landlord to address. Although the landlord is not legally bound to answer these enquiries the majority will be content to do so. They are at liberty charge a reasonable administration fee for answering enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is over three hundred pounds, in some situations it is in excess of £800. The administration charge required by the landlord must be accompanied by a synopsis of rights and obligations in relation to administration charges, without which the invoice is not strictly payable. Reality however dictates that one has little choice but to pay whatever is demanded should you wish to complete the sale of your home.

I invested in buying a 1st floor flat in Camborne, conveyancing was carried out 2007. Can you give me give me an indication of the likely cost of a lease extension? Similar properties in Camborne with over 90 years remaining are worth £172,000. The average or mid-range amount of ground rent is £60 yearly. The lease expires on 21st October 2081

With just 56 years unexpired we estimate the premium for your lease extension to span between £26,600 and £30,800 as well as legals.

The figure above a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of detailed investigations. Do not use this information in tribunal or court proceedings. There may be other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.

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Lease Extensions in Camborne