Fixed-fee leasehold conveyancing in Falmouth:

When it comes to leasehold conveyancing in Falmouth, you will need to chose a conveyancing solicitor with leasehold experience. Whether your lender is to be Santander, Yorkshire Building Society or NatWest make sure you find a lawyer on their panel. Feel free to use our search tool

Falmouth leasehold conveyancing: Q and A’s

Having had my offer accepted I require leasehold conveyancing in Falmouth. Before diving in I want to be sure as to the unexpired term of the lease.

If the lease is recorded at the land registry - 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.

Having checked my lease I have discovered that there are only Sixty One years remaining on my flat in Falmouth. I am keen to get lease extension but my landlord is missing. What should I do?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. However, you will be required to prove that you or your lawyers have made all reasonable attempts to find the freeholder. For most situations an enquiry agent may be useful to carry out a search and to produce an expert document to be accepted by the court as proof that the freeholder can not be located. It is wise to seek advice from a conveyancer in relation to devolving into the landlord’s absence and the vesting order request to the County Court overseeing Falmouth.

Last month I purchased a leasehold house in Falmouth. Do I have any liability for service charges for periods before completion of my purchase?

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. It is an essential part 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).

Do you have any top tips for leasehold conveyancing in Falmouth from the point of view of saving time on the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Falmouth can be avoided where you appoint lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold information which will be required by the buyers lawyers.
  • The majority landlords or Management Companies in Falmouth charge for providing management packs for a leasehold homes. You or your lawyers should enquire as to the fee that they propose to charge. The management information sought on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Falmouth.
  • In the event that you altered the property did you need the Landlord’s permission? Have you, for example installed wooden flooring? Falmouth leases often stipulate that internal structural alterations or addition of wooden flooring necessitate a licence from the Landlord approving such alterations. Where you dont have the consents in place you should not communicate with the landlord without contacting your conveyancer in the first instance.
  • If you have the benefit of shareholding in the Management Company, you should make sure that you are holding the original share certificate. Arranging a replacement share certificate can be a time consuming formality and frustrates many a Falmouth home move. Where a duplicate share is needed, do contact the company officers or managing agents (where relevant) for this at the earliest opportunity.
  • You may think that you are aware of the number of years left on your lease but it would be wise to verify this via your solicitors. A buyer’s lawyer will not be happy to advise their client to where the lease term is under 75 years. It is therefore important at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

  • Are there common defects that you come across in leases for Falmouth properties?

    There is nothing unique about leasehold conveyancing in Falmouth. Most leases is drafted differently and legal mistakes in the legal wording can result in certain sections are not included. For example, if your lease is missing any of the following, it could be defective:

    • A provision to repair to or maintain elements of the property
    • A duty to insure the building
    • A provision for the recovery of money spent for the benefit of another party.
    • Maintenance charge proportions which don’t add up to the correct percentage

    You will have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , Virgin Money, and Nottingham Building Society all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, forcing the purchaser to pull out.

    Leasehold Conveyancing in Falmouth - Examples of Queries Prior to buying

      It would be sensible to discover as much as you can about the company managing the building as they will impact your use and enjoyment of the property. As the owner of a leasehold property you are often at the mercy of the managing agents both financially and when it comes to practical matters like the cleanliness of the common parts. You should not be shy to ask prospective neighbours if they are happy with them. On a final note, investigate as to the dates that you are obliged pay the service charge to the appropriate party and precisely what it includes. Where a Falmouth lease has no more than 80 years it will affect the marketability of the apartment. It is worth checking with your lender that they are willing to to proceed given the lease term. Leases with less than 80 years remaining means that you will almost definitely have to extend the lease sooner rather than later and it is worth finding out what this would cost. Remember, in most cases you will need to own the premises for a couple of years before you are entitled to carry out a lease extension. Who is in charge of the building?

    Other Topics

    Lease Extensions in Falmouth