Fixed-fee leasehold conveyancing in Marazion:

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When it comes to leasehold conveyancing in Marazion, you will need to appoint a conveyancing lawyer with leasehold experience. Whether your mortgage company is to be Santander, Yorkshire Building Society or Bradford & Bingley be sure to choose a lawyer on their panel. Feel free to use our search tool

Top Five Questions relating to Marazion leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Marazion. Before diving in I want to be sure as to the number of years remaining on the lease.

If the lease is recorded at the land registry - and most are in Marazion - 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 am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a reasonable price which is making it more attractive. I have subsequently discovered that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns buying a leasehold house in Marazion. Conveyancing lawyers have are about to be instructed. Will they explain the issues?

The majority of houses in Marazion are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Marazion so you should seriously consider looking for a Marazion conveyancing solicitor and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as obtaining the landlord’sconsent to carry out alterations. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the property is part of an estate. Your lawyer should advise you fully on all the issues.

I am employed by a reputable estate agent office in Marazion where we have experienced a number of flat sales jeopardised as a result of short leases. I have received conflicting advice from local Marazion conveyancing solicitors. Please can you confirm whether the owner of a flat can instigate the lease extension process for the buyer?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with 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.

Can you offer any advice when it comes to appointing a Marazion conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a property lawyer for your lease extension (regardless if they are a Marazion conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We recommend that you speak with several firms including non Marazion conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be useful:

  • If the firm is not ALEP accredited then why not?
  • Can they put you in touch with client in Marazion who can give a testimonial?

    • Do you have any advice for leasehold conveyancing in Marazion with the purpose of saving time on the sale process?

    • Much of the delay in leasehold conveyancing in Marazion can be avoided if you appoint lawyers the minute you market your property and request that they start to put together the leasehold documentation needed by the buyers conveyancers.
    • In the event that you altered the property did you need the Landlord’s approval? In particular have you installed wooden flooring? Marazion leases often stipulate that internal structural alterations or addition of wooden flooring necessitate a licence issued by the Landlord approving such works. If you dont have the paperwork to hand do not contact the landlord without contacting your solicitor in advance.
  • Some Marazion leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying the annual 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 service charge figures so that they can pass this information on to the purchasers or their solicitors.
  • If you are supposed to have a share in the Management Company, you should make sure that you have the original share certificate. Obtaining a re-issued share certificate can be a time consuming process and slows down many a Marazion home move. If a new share is needed, 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 remaining on your lease but it would be advisable verify this by asking your lawyers. A buyer’s conveyancer will not be happy to advise their client to where the lease term is less than 80 years. In the circumstances it is important at an as soon as possible that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

    • I am the registered owner of a basement flat in Marazion, conveyancing having been completed in 2001. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Marazion with over 90 years remaining are worth £216,000. The ground rent is £55 yearly. The lease runs out on 21st October 2100

    With just 75 years unexpired we estimate the price of your lease extension to be between £8,600 and £9,800 plus plus your own and the landlord's "reasonable" professional fees.

    The figure 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. You should not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Marazion