Fixed-fee leasehold conveyancing in Carbis Bay:

When it comes to leasehold conveyancing in Carbis Bay, you will need to appoint a conveyancing lawyer with leasehold experience. Whether your mortgage company is to be Lloyds, RBS or Nationwide be sure to choose a lawyer on their panel. Find a Carbis Bay conveyancing lawyer with our search tool

Carbis Bay leasehold conveyancing: Q and A’s

I am in need of some leasehold conveyancing in Carbis Bay. Before diving in 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 Carbis Bay - then the leasehold title will always include the basic details 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.

Having checked my lease I have discovered that there are only 62 years remaining on my flat in Carbis Bay. I now wish to extend my lease but my landlord is absent. What should I do?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. You will be obliged to prove that you or your lawyers have done all that could be expected to locate the landlord. For most situations an enquiry agent should be helpful to try and locate and to produce a report to be accepted by the court as evidence that the freeholder can not be located. It is wise to seek advice from a solicitor both on devolving into the landlord’s absence and the vesting order request to the County Court covering Carbis Bay.

I have just appointed agents to market my basement flat in Carbis Bay.Conveyancing solicitors are to be appointed soon but I have just received a quarterly service charge invoice – what should I do?

The sensible thing to do is discharge 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 am looking at a couple of maisonettes in Carbis Bay both have about 50 years remaining on the lease term. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold apartment in Carbis Bay is a wasting asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it adversely affects the value of the premises. For most purchasers and mortgage companies, leases with less than 75 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 Carbis Bay conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend 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.

What are your top tips when it comes to finding a Carbis Bay conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a solicitor for your lease extension (regardless if they are a Carbis Bay conveyancing firm) it is essential that he or she should 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. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

  • How many lease extensions have they conducted in Carbis Bay in the last year?
  • What are the costs for lease extension conveyancing?

  • Carbis Bay Conveyancing for Leasehold Flats - Sample of Queries Prior to Purchasing

      Plenty Carbis Bay leasehold flats will be liable to pay a service charge for maintenance of the building invoiced on behalf of the management company. Should you acquire the property you will have to meet this contribution, usually periodically during the year. This may differ from two or three hundred pounds to thousands of pounds for large purpose-built blocks. In all likelihood there will be a rentcharge to be met annual, normally this is not a significant amount, say approximately £25-£75 but you should to enquire as occasionally it can be many hundreds of pounds. Is the freehold reversion owned jointly by the tenants? How many of the leaseholders are in arrears for their service charge payments?

    Other Topics

    Lease Extensions in Carbis Bay