Expecting to complete next month on a ground floor flat in Camelford. Conveyancing solicitors inform me that they report fully on Monday. What should I be looking out for?

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

• You need to be told what constitutes a Nuisance in the lease
• Repair and maintenance of the flat
• Changes to the flat (alterations and additions)
• The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
• Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
• What options are open to you if a neighbour is in violation of a provision in their lease?
• What the implications are if you breach a clause of your lease?

I’m about to sell my 2 bed flat in Camelford.Conveyancing is yet to be initiated but I have just received a half-yearly maintenance charge demand – what should I do?

It best that you 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 management companies will not acknowledge the buyer unless 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 tempted by the attractive purchase price for a two apartments in Camelford both have approximately 50 years remaining on the leases. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold flat in Camelford is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it adversely affects the marketability of the property. The majority of purchasers and banks, leases with less than eighty years become less and less marketable. 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 premises 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 Camelford 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 They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new 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.

Last month I purchased a leasehold flat in Camelford. Do I have any liability for service charges for periods before 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. 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).

Can you offer any advice when it comes to appointing a Camelford conveyancing practice to carry out our lease extension conveyancing?

When appointing a property lawyer for lease extension works (regardless if they are a Camelford conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We advise that you make enquires with two or three firms including non Camelford conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be helpful:

• If they are not ALEP accredited then what is the reason?
• What are the costs for lease extension work?

Camelford Leasehold Conveyancing - A selection of Queries Prior to Purchasing

What is the name of the managing agents? How much is the ground rent and service charge? The majority of Camelford leasehold apartments will have a service bill for the upkeep of the building invoiced on behalf of the freeholder. Should you buy the flat you will have to meet this contribution, usually periodically during the year. This can differ from a few hundred pounds to thousands of pounds for bigger purpose-built blocks. There will also be a rentcharge to be met yearly, this is usually not a significant amount, say about £50-£100 but you should to check it because occasionally it could be many hundreds of pounds.