I am hoping to sign contracts shortly on a basement flat in Newquay. Conveyancing solicitors assured me that they report fully on Monday. What should I be looking out for?

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

• Does the lease require carpeting throughout thus preventing wood flooring?
• You should be told what constitutes a Nuisance in the lease
• 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
• You should have a good understanding of the insurance provisions
• Repair and maintenance of the flat
• 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
• What the implications are if you breach a clause of your lease?

Estate agents have just been given the go-ahead to market my ground floor flat in Newquay.Conveyancing solicitors are to be appointed soon but I have just had a half-yearly maintenance charge invoice – what should I do?

It best that you discharge the invoice 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 management companies 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.

I am attracted to a couple of maisonettes in Newquay which have about forty five years remaining on the lease term. Will this present a problem?

A lease is a right to use the property for a period of time. As the lease shortens the saleability of the lease decreases and it becomes more expensive to extend the lease. For this reason it is generally wise to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease enfranchisement can be a protracted process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this area

I've recently bought a leasehold flat in Newquay. Do I have any liability for service charges for periods before 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. It is an essential part of leasehold conveyancing for your conveyancer to ensure 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).

Can you provide any top tips for leasehold conveyancing in Newquay from the perspective of expediting the sale process?

• A significant proportion of the delay in leasehold conveyancing in Newquay can be avoided where you appoint lawyers the minute your agents start advertising the property and request that they start to put together the leasehold documentation which will be required by the purchasers’ conveyancers.
• The majority landlords or Management Companies in Newquay levy fees for supplying management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Newquay.
• In the event that you altered the property did you need the Landlord’s permission? Have you, for example installed wooden flooring? Most leases in Newquay state that internal structural changes or installing wooden flooring necessitate a licence from the Landlord consenting to such works. If you fail to have the paperwork in place you should not communicate with the landlord without contacting your lawyer in the first instance.
• Some Newquay leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers obtain 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 actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers.
• If you have had any disputes with your landlord or managing agents it is very important that these are resolved before the property is put on the market. The purchasers and their solicitors will be nervous about purchasing a flat where a dispute is unresolved. You may need to swallow your pride and discharge 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 are still duty bound to disclose particulars of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as over as opposed to ongoing.

I purchased a garden flat in Newquay, conveyancing formalities finalised 1995. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Newquay with an extended lease are worth £180,000. The ground rent is £45 yearly. The lease finishes on 21st October 2082

With 56 years unexpired the likely cost is going to range between £24,700 and £28,600 plus costs.

The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.