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Frequently asked questions relating to Liskeard leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Liskeard. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.

If the lease is recorded at the land registry - and 99.9% are in Liskeard - then the leasehold title will always include the short particulars 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.

I wish to sublet my leasehold flat in Liskeard. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

Some leases for properties in Liskeard do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.

Planning to exchange soon on a leasehold property in Liskeard. Conveyancing lawyers assured me that they are sending me a report tomorrow. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Liskeard should include some of the following:

  • You should receive a copy of the lease
  • Will you be prohibited or prevented from having pets in the property?
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • You should have a good understanding of the insurance provisions
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • Responsibility for repairing the window frames
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be included in your report on your leasehold property in Liskeard please enquire of your lawyer in ahead of your conveyancing in Liskeard

    • I have just started marketing my basement flat in Liskeard.Conveyancing has not commenced but I have just received a half-yearly maintenance charge demand – what should I do?

    It best that you clear the service charge 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 unless 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. This will smooth the conveyancing process.

    Can you provide any top tips for leasehold conveyancing in Liskeard with the intention of speeding up the sale process?

    • Much of the frustration in leasehold conveyancing in Liskeard can be bypassed where you get in touch lawyers the minute you market your property and request that they start to put together the leasehold information which will be required by the buyers solicitors.
    • Many landlords or managing agents in Liskeard levy fees 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 as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Liskeard.
  • If you have carried out any alterations to the premises would they have required Landlord’s permission? Have you, for example laid down wooden flooring? Liskeard leases often stipulate that internal structural alterations or addition of wooden flooring calls for a licence issued by the Landlord acquiescing to such alterations. If you fail to have the paperwork to hand do not contact the landlord without contacting your conveyancer before hand.
  • If you have the benefit of shareholding in the Management Company, you should ensure that you hold the original share certificate. Arranging a replacement share certificate can be a lengthy process and delays many a Liskeard conveyancing transaction. If a reissued share is necessary, you should approach the company officers or managing agents (where relevant) for this at the earliest opportunity.
  • You believe that you know the number of years left on your lease but it would be wise to verify this via your lawyers. A buyer’s conveyancer will not be happy to advise their client to where the remaining number of years is less than 80 years. In the circumstances it is important at an early stage that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • I purchased a 2 bed flat in Liskeard, conveyancing formalities finalised 10 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Liskeard with a long lease are worth £180,000. The average or mid-range amount of ground rent is £60 levied per year. The lease ends on 21st October 2077

    With just 57 years unexpired we estimate the premium for your lease extension to range between £27,600 and £31,800 as well as costs.

    The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive 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 should be as accurate as possible in your negotiations. You should not take any other action based on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Liskeard