Leasehold Conveyancing in Liskeard - Get a Quote from the leasehold experts approved by your lender

Get a Quote

When it comes to leasehold conveyancing in Liskeard, you will need to chose a conveyancing solicitor with leasehold experience. Whether your lender is to be Lloyds, Birmingham Midshires or Nationwide be sure to find a lawyer on their approved list. Feel free to use our search tool

Frequently asked questions relating to Liskeard leasehold conveyancing

I am a negotiator for a long established estate agency in Liskeard where we have witnessed a number of leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Liskeard conveyancing solicitors. Can you clarify whether the vendor of a flat can start the lease extension process for the purchaser on completion of the sale?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.

An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

What advice can you give us when it comes to choosing a Liskeard conveyancing practice to deal with our lease extension?

If you are instructing a solicitor for lease extension works (regardless if they are a Liskeard conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with several firms including non Liskeard conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

  • If the firm is not ALEP accredited then why not?
  • What volume of lease extensions has the firm carried out in Liskeard in the last twenty four months?

    • Can you provide any advice for leasehold conveyancing in Liskeard with the intention of expediting the sale process?

    • Much of the delay in leasehold conveyancing in Liskeard can be reduced if you get in touch lawyers as soon as your agents start advertising the property and ask them to collate the leasehold information needed by the purchasers’ solicitors.
    • If you have carried out any alterations to the residence would they have required Landlord’s approval? In particular have you installed wooden flooring? Most leases in Liskeard state that internal structural changes or installing wooden flooring require a licence from the Landlord consenting to such works. Where you dont have the paperwork in place you should not communicate with the landlord without contacting your lawyer before hand.
  • Some Liskeard leases require Licence to Assign from the landlord. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. The bank reference should make it clear that the buyer is financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.
  • If you have had conflict with your freeholder or managing agents it is very important that these are resolved prior to the flat being put on the market. The purchasers and their solicitors will be nervous about purchasing a property where there is an ongoing dispute. You may need to swallow your pride and discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is clearly preferable to reveal the dispute as historic rather than unresolved.
  • You believe that you know the number of years remaining on your lease but it would be advisable double-check via your solicitors. A buyer’s lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is under 80 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.

    • Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £475000 flat in Liskeard next Tuesday . The managing agents has quoted £408 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Liskeard?

    Liskeard conveyancing on leasehold flats often necessitates the purchaser’s solicitor sending enquiries for the landlord to answer. Although the landlord is under no legal obligation to respond to such questions most will be content to do so. They are entitled charge a reasonable administration fee for responding to enquiries or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is over three hundred pounds, in some transactions it is in excess of £800. The administration charge levied by the landlord must be accompanied by a summary of rights and obligations in relation to administration charges, otherwise the charge is not strictly payable. Reality however dictates that you have little choice but to pay whatever is demanded if you want to exchange contracts with the buyer.

    What are the frequently found problems that you come across in leases for Liskeard properties?

    Leasehold conveyancing in Liskeard is not unique. All leases are individual and legal mistakes in the legal wording can result in certain clauses 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 will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. National Westminster Bank, Bank of Scotland, and Barclays Direct all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, forcing the buyer to withdraw.

    Liskeard Conveyancing for Leasehold Flats - A selection of Queries before Purchasing

      Best to be warned if window replacement or some other significant cost is anticipated to be shared by the tenants and may well dramatically increase the the service fees or result in a one time invoice. The answer will be helpful as a) areas can cause problems in the building as the common areas may begin to deteriorate where maintenance are not paid for b) if the leaseholders have an issue with the managing agents you will want to have all the details What is the length of the lease?

    Other Topics

    Lease Extensions in Liskeard