I am on look out for some leasehold conveyancing in Falmouth. Before diving in I require certainty as to the unexpired term of the lease.

Assuming the lease is registered - and almost all are in Falmouth - 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.

Expecting to sign contracts shortly on a garden flat in Falmouth. Conveyancing lawyers have said that they report fully tomorrow. What should I be looking out for?

Your report on title for your leasehold conveyancing in Falmouth should include some of the following:

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

Are you allowed to have a pet in the flat?

Whether the lease restricts you from subletting the property, or working from home

Ground rent - how much and when you need to pay, and also know whether this is subject to change

You should have a good understanding of the insurance provisions

Changes to the flat (alterations and additions)

The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building For a comprehensive list of information to be included in your report on your leasehold property in Falmouth please ask your lawyer in advance of your conveyancing in Falmouth

I am tempted by the attractive purchase price for a couple of flats in Falmouth which have in the region of forty five years unexpired on the lease term. should I be concerned?

A lease is a right to use the premises for a period of time. As the lease gets shorter the marketability of the lease reduces and results in it becoming more expensive to acquire a lease extension. For this reason it is advisable to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease because mortgage companies may be reluctant to lend money on properties of this type. Lease enfranchisement can be a difficult process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this area

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

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).

Completion in due on the disposal of our £325000 garden flat in Falmouth on Monday in a week. The managing agents has quoted £372 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Falmouth?

Falmouth conveyancing on leasehold maisonettes nine out of ten times involves administration charges invoiced by landlords agents :

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

Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Falmouth leasehold premises is £350. For Falmouth 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 provide answers.

I purchased a 2 bed flat in Falmouth, conveyancing was carried out 5 years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Falmouth with a long lease are worth £242,000. The ground rent is £45 charged once a year. The lease comes to an end on 21st October 2102

You have 78 years unexpired we estimate the price of your lease extension to range between £11,400 and £13,200 as well as legals.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.

Other Topics

Lease Extensions in Falmouth