Guaranteed fixed fees for Leasehold Conveyancing in Newquay

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Newquay leasehold conveyancing Example Support Desk Enquiries

I have recently realised that I have Seventy years left on my lease in Newquay. I need to extend my lease but my landlord is can not be found. What options are available to me?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. However, you will be required to prove that you have used your best endeavours to find the landlord. For most situations a specialist may be useful to try and locate and prepare a report to be accepted by the court as proof that the landlord can not be located. It is advisable to get professional help from a conveyancer both on proving the landlord’s absence and the vesting order request to the County Court covering Newquay.

I’m about to sell my ground floor flat in Newquay.Conveyancing lawyers have not yet been instructed but I have just received a half-yearly service charge invoice – should I leave it to the buyer to sort out?

The sensible thing to do is clear the service charge 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 managing agents 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. Having a clear account will assist your cause and will leave you no worse off financially.

I am tempted by the attractive purchase price for a couple of maisonettes in Newquay both have approximately forty five years left on the leases. Will this present a problem?

A lease is a right to use the property for a prescribed time frame. As the lease shortens the saleability of the lease deteriorate and it becomes more expensive to acquire a lease extension. For this reason it is often a good idea to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders may be reluctant to lend money on properties of this type. Lease enfranchisement can be a protracted process. We advise that you get professional assistance from a solicitor and surveyor with experience in this area

Can you provide any advice for leasehold conveyancing in Newquay with the intention of saving time on the sale process?

  • Much of the frustration in leasehold conveyancing in Newquay can be bypassed where you instruct lawyers the minute your agents start marketing the property and request that they start to put together the leasehold documentation needed by the buyers conveyancers.
  • Many freeholders or managing agents in Newquay charge for supplying management packs for a leasehold homes. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most common reason for delay in leasehold conveyancing in Newquay.
  • If you have carried out any alterations to the residence would they have required Landlord’s consent? In particular have you laid down wooden flooring? Newquay leases often stipulate that internal structural alterations or installing wooden flooring necessitate a licence issued by the Landlord consenting to such changes. Should you fail to have the consents in place do not communicate with the landlord without contacting your conveyancer in the first instance.
  • If there is a history of conflict with your freeholder or managing agents it is very important that these are settled prior to the flat being marketed. The purchasers and their solicitors will be reluctant to purchase a flat where a dispute is unresolved. You will have to accept that you will have to pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to 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 better to reveal the dispute as over as opposed to unresolved.
  • You may think that you are aware of the number of years remaining on your lease but you should verify this via your conveyancers. A purchaser's lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is below 75 years. It is therefore essential at an early stage that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

    • Are there frequently found problems that you come across in leases for Newquay properties?

    There is nothing unique about leasehold conveyancing in Newquay. All leases are unique and legal mistakes in the legal wording can result in certain clauses are erroneous. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain elements of the property
    • A duty to insure the building
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Maintenance charge proportions which don’t add up to the correct percentage

    You could have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, The Mortgage Works, and Aldermore all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, obliging the purchaser to withdraw.

    I am the registered owner of a 1 bedroom flat in Newquay, conveyancing was carried out in 2011. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Newquay with a long lease are worth £220,000. The ground rent is £50 yearly. The lease ends on 21st October 2096

    With 71 years left to run we estimate the premium for your lease extension to span between £11,400 and £13,200 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 comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Newquay