Guaranteed fixed fees for Leasehold Conveyancing in Looe

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When it comes to leasehold conveyancing in Looe, you will need to appoint a conveyancing practitioner with leasehold experience. Whether your mortgage company is to be Lloyds, Birmingham Midshires or Nationwide be sure to choose a lawyer on their approved list. Find a Looe conveyancing lawyer with our search tool

Frequently asked questions relating to Looe leasehold conveyancing

I wish to let out my leasehold flat in Looe. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?

Your lease governs the relationship between the freeholder and you the flat owner; in particular, it will say if subletting is not allowed, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no expres ban or restriction, subletting is permitted. The majority of leases in Looe do not prevent strict prohibition on subletting – such a provision would undoubtedly devalue the flat. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.

Looking forward to exchange soon on a ground floor flat in Looe. Conveyancing solicitors inform me that they report fully next week. What should I be looking out for?

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

  • You should be sent a copy of the lease
  • Do you need to have carpet in the flat or are you allowed wood flooring?
  • Are you allowed to have a pet in the flat?
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • 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
  • Responsibility for repairing the window frames For a comprehensive list of information to be included in your report on your leasehold property in Looe please ask your solicitor in ahead of your conveyancing in Looe

    • I own a leasehold house in Looe. Conveyancing and Clydesdale mortgage went though with no issue. I have received a letter from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Looe who acted for me is not around.Any advice?

    The first thing you should do is contact HMLR to be sure that this person is in fact the new freeholder. There is no need to incur the fees of a Looe conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

    I am tempted by the attractive purchase price for a two flats in Looe which have about 50 years remaining on the lease term. Will this present a problem?

    A lease is a right to use the premises for a prescribed time frame. As a lease shortens the value of the lease deteriorate and results in it becoming more costly to acquire a lease extension. This is why it is advisable to extend the lease term. Sometimes it is difficult to sell a property with a short lease as mortgage companies may be reluctant to lend money on such properties. Lease extension can be a difficult process. We recommend you get professional help from a conveyancer and surveyor with experience in this field

    Completion in due on the sale of our £225000 apartment in Looe in 10 days. The managing agents has quoted £372 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Looe?

    Looe conveyancing on leasehold flats normally requires the purchaser’s conveyancer sending questions for the landlord to answer. Although the landlord is not legally bound to answer these enquiries most will be willing to assist. They may levy a reasonable administration fee for responding to questions or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is over three hundred pounds, in some cases it exceeds £800. The management information fee demanded by the landlord must be sent together with a summary of rights and obligations in respect of administration charges, otherwise the charge is technically not due. In reality one has little choice but to pay whatever is requested of you if you want to exchange contracts with the buyer.

    Looe Conveyancing for Leasehold Flats - A selection of Questions you should ask before Purchasing

      Is the freehold reversion owned jointly by the leaseholders? Please note if it is no more than 80 years it will have adverse implications on the value of the apartment. It is worth checking with your bank that they are willing to to proceed given the lease term. A short lease means that you will almost definitely have to extend the lease at some point and you need to have some idea of how much this would cost. For most Looelease extensions you will be be obliged to have owned the residence for 24 months in order to be entitled to extend the lease. It would be sensible to discover as much as you can about the managing agents as they will either make your life much simpler or uncomfortable. Being a leasehold owner you will be at the mercy of the managing agents both financially and when it comes to day to day issues such as the cleanliness of the common parts. Enquire of prospective neighbours whether they are happy with their management. On a final note, investigate as to the dates that you are obliged pay the service charge to the relevant party and precisely what you get for your money.

    Other Topics

    Lease Extensions in Looe