Planning to exchange soon on a leasehold property in Newquay. Conveyancing solicitors inform me that they report fully next week. Are there areas in the report that I should be focusing on?

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

• You should be sent a copy of the lease

The unexpired lease term You should be advised as what happens when the lease expires, and aware of the importance of the 80 year mark

Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder

You need to 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

Changes to the flat (alterations and additions)

Responsibility for repairing the window frames For details of the information to be included in your report on your leasehold property in Newquay please enquire of your lawyer in ahead of your conveyancing in Newquay

I am hoping to put an offer on a small detached house that appears to be perfect, at a reasonable price which is making it more attractive. I have just discovered that the title is leasehold as opposed to freehold. I am assuming that there are issues buying a leasehold house in Newquay. Conveyancing advisers have are soon to be appointed. Will they explain the issues?

The majority of houses in Newquay are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. It is clear that you are buying in Newquay so you should seriously consider shopping around for a Newquay 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 tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as requiring the freeholder’sconsent to conduct alterations. You may also be required to pay a contribution towards the maintenance of the estate where the house is part of an estate. Your solicitor will advise you fully on all the issues.

My wife and I purchased a leasehold flat in Newquay. Conveyancing and National Westminster Bank mortgage organised. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1993. The conveyancing practitioner in Newquay who previously acted has now retired.What should I do?

First contact HMLR to be sure that this person is in fact the registered owner of the freehold reversion. There is no need to incur the fees of a Newquay conveyancing lawyer to do this as you can do this on the Land Registry website for £3. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

If all goes to plan we aim to complete the disposal of our £475000 flat in Newquay next Friday . The management company has quoted £336 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Newquay?

For the majority of leasehold sales in Newquay conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Addressing pre-contract questions
• Where consent is required before sale in Newquay
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Newquay leasehold property is £350. For Newquay conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to provide answers.

Are there common defects that you encounter in leases for Newquay properties?

Leasehold conveyancing in Newquay is not unique. Most leases are individual and drafting errors can result in certain clauses are missing. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain parts of the property
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, Coventry Building Society, and Alliance & Leicester all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, obliging the buyer to withdraw.

I invested in buying a garden flat in Newquay, conveyancing was carried out in 2005. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent flats in Newquay with over 90 years remaining are worth £263,000. The ground rent is £55 charged once a year. The lease terminates on 21st October 2078

With just 53 years remaining on your lease we estimate the price of your lease extension to span between £31,400 and £36,200 plus costs.

The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account 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 getting professional advice.

Other Topics

Lease Extensions in Newquay