Fixed-fee leasehold conveyancing in Carbis Bay:

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Frequently asked questions relating to Carbis Bay leasehold conveyancing

I own a leasehold house in Carbis Bay. Conveyancing and Godiva Mortgages Ltd mortgage organised. A letter has just been received from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1992. The conveyancing practitioner in Carbis Bay who acted for me is not around.Do I pay?

The first thing you should do is make enquiries of HMLR to be sure that this person is indeed the new freeholder. There is no need to incur the fees of a Carbis Bay conveyancing solicitor to do this as it can be done on-line for £3. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I've recently bought a leasehold property in Carbis Bay. Am I liable to pay service charges for periods before my ownership?

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 ensure 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 am a negotiator for a long established estate agency in Carbis Bay where we have experienced a few flat sales jeopardised due to leases having less than 80 years remaining. I have received conflicting advice from local Carbis Bay conveyancing firms. Can you confirm whether the owner of a flat can commence the lease extension process for the purchaser on completion of the sale?

Provided that the seller has owned the lease 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 buyer 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 prior to, or at the same time as completion of the disposal of the property.

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 offer any advice when it comes to appointing a Carbis Bay conveyancing firm to carry out our lease extension conveyancing?

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

  • Can they put you in touch with client in Carbis Bay who can give a testimonial?
  • What are the charges for lease extension conveyancing?

    • Do you have any top tips for leasehold conveyancing in Carbis Bay from the perspective of saving time on the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Carbis Bay can be avoided where you appoint lawyers as soon as you market your property and request that they start to collate the leasehold documentation which will be required by the purchasers’ lawyers.
    • Some Carbis Bay leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying the yearly 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 service charge figures so that they can pass this information on to the buyers or their solicitors.
  • If you have had conflict with your freeholder or managing agents it is very important that these are settled before the property is put on the market. The purchasers and their solicitors will be reluctant to purchase a flat where a dispute is unsettled. You may have to bite the bullet and pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. 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 particulars of the dispute to the purchasers, but it is better to reveal the dispute as historic rather than unresolved.
  • If you hold a share in a the Management Company, you should make sure that you hold the original share certificate. Obtaining a replacement share certificate can be a time consuming process and frustrates many a Carbis Bay home move. Where a duplicate share certificate is needed, do contact the company director and secretary or managing agents (if relevant) for this sooner rather than later.
  • You believe that you know the number of years remaining on your lease but it would be wise to verify this by asking your conveyancers. A purchaser's lawyer will be unlikely to recommend their client to where the remaining number of years is less than 75 years. It is therefore important at an early stage that you consider 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.

    • I inherited a basement flat in Carbis Bay, conveyancing formalities finalised 6 years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Carbis Bay with an extended lease are worth £232,000. The ground rent is £45 charged once a year. The lease expires on 21st October 2081

    With 57 years left to run we estimate the premium for your lease extension to span between £25,700 and £29,600 as well as legals.

    The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.

    Other Topics

    Lease Extensions in Carbis Bay