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Fowey leasehold conveyancing Example Support Desk Enquiries

I am in need of some leasehold conveyancing in Fowey. Before diving in I would like to find out the remaining lease term.

If the lease is recorded at the land registry - and almost all are in Fowey - 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 Fowey. I need to extend my lease but my landlord is absent. What are my options?

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 for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. You will be obliged to prove that you or your lawyers have done all that could be expected to locate the lessor. For most situations an enquiry agent may be useful to try and locate and prepare an expert document which can be accepted by the court as proof that the landlord can not be located. It is advisable to get professional help from a property lawyer in relation to devolving into the landlord’s disappearance and the application to the County Court covering Fowey.

What advice can you give us when it comes to choosing a Fowey conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a solicitor for your lease extension (regardless if they are a Fowey conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with two or three firms including non Fowey conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:

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

  • Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £150000 apartment in Fowey next week. The managing agents has quoted £324 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Fowey?

    For most leasehold sales in Fowey conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

    • Addressing conveyancing due diligence enquiries
    • Where consent is required before sale in Fowey
    • Supplying insurance information
    • Deeds of covenant upon sale
    • Registering of the assignment of the change of lessee after a sale
    Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Fowey leasehold premises is £350. For Fowey 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 required to provide the information.

    In relation to leasehold conveyancing in Fowey what are the most common lease problems?

    There is nothing unique about leasehold conveyancing in Fowey. All leases are unique and drafting errors can result in certain provisions are erroneous. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain parts 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

    A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Skipton Building Society, and Barclays Direct all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, obliging the buyer to pull out.

    I inherited a garden flat in Fowey, conveyancing having been completed 2002. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar properties in Fowey with a long lease are worth £242,000. The ground rent is £60 invoiced every year. The lease terminates on 21st October 2094

    With only 70 years left to run we estimate the premium for your lease extension to be between £10,500 and £12,000 as well as legals.

    The figure above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Fowey