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

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When it comes to leasehold conveyancing in Lostwithiel, you will need to instruct a conveyancing practitioner with leasehold experience. Whether your lender is to be Halifax, Birmingham Midshires or Bradford & Bingley be sure to find a lawyer on their approved list. Feel free to use our search tool

Frequently asked questions relating to Lostwithiel leasehold conveyancing

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

A small minority of properties in Lostwithiel do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably refuse but, in such cases, they would need to see 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.

I am hoping to sign contracts shortly on a ground floor flat in Lostwithiel. Conveyancing lawyers assured me that they are sending me a report within the next couple of days. What should I be looking out for?

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

  • Does the lease prohibit wood flooring?
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • Whether your lease has a provision for a reserve fund?
  • You should have a good understanding of the insurance provisions
  • Repair and maintenance of the flat
  • 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.
  • What the implications are if you breach a clause of your lease? For details of the information to be contained in your report on your leasehold property in Lostwithiel please ask your lawyer in ahead of your conveyancing in Lostwithiel

    • Last month I purchased a leasehold flat in Lostwithiel. Do I have any liability for service charges relating to a period prior to 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. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure 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).

    I work for a reputable estate agency in Lostwithiel where we have witnessed a few flat sales derailed as a result of short leases. I have been given inconsistent advice from local Lostwithiel conveyancing solicitors. Please can you shed some light as to whether the seller of a flat can commence 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 kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have 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 at the same time as completion of the disposal of the property.

    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.

    Do you have any top tips for leasehold conveyancing in Lostwithiel from the point of view of speeding up the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Lostwithiel can be bypassed if you get in touch lawyers as soon as you market your property and request that they start to collate the leasehold documentation needed by the purchasers’ lawyers.
    • Many landlords or Management Companies in Lostwithiel levy fees for providing management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management pack sought on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Lostwithiel.
  • In the event that you altered the property did you need the Landlord’s approval? In particular have you installed wooden flooring? Most leases in Lostwithiel state that internal structural alterations or addition of wooden flooring require a licence from the Landlord consenting to such works. Should you fail to have the paperwork to hand do not contact the landlord without contacting your lawyer before hand.
  • If there is a history of conflict with your landlord or managing agents it is very important that these are settled prior to the flat being marketed. The buyers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You may need to swallow your pride and pay any arrears of service charge or resolve 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 details of the dispute to the buyers, but it is clearly preferable to reveal the dispute as over as opposed to ongoing.
  • If you are supposed to have a share in the freehold, you should make sure that you hold the original share document. Arranging a re-issued share certificate is often a time consuming process and delays many a Lostwithiel home move. Where a duplicate share certificate is needed, do contact the company officers or managing agents (where relevant) for this at the earliest opportunity.

    • Lostwithiel Conveyancing for Leasehold Flats - Examples of Queries before buying

      How many of the leaseholders are in arrears for their maintenance charge payments? This information is useful as a) areas may result in problems for the building as the communal areas may begin to deteriorate if maintenance remain unpaid b) if the leasehold owners have an issue with the managing agents you will wish to have all the details Be sure to investigate if the the lease includes any onerous restrictions in the lease. For instance it is reasonably common in Lostwithiel leases that pets are not permitted in certain buildings in Lostwithiel. If you love the flatin Lostwithiel but your cat can’t live with you then you will be faced hard choice.

    Other Topics

    Lease Extensions in Lostwithiel