Experts for Leasehold Conveyancing in Porthleven

Get a Quote

Need to find a solicitor for leasehold conveyancing in Porthleven on your lender’s panel? Make use of our search tool to find approved local Porthleven conveyancing lawyers or nationwide solicitors on your lender’s panel .

Recently asked questions relating to Porthleven leasehold conveyancing

My wife and I may need to let out our Porthleven ground floor flat temporarily due to taking a sabbatical. We instructed a Porthleven conveyancing firm in 2004 but they have closed and we did not think at the time get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?

Notwithstanding that your last Porthleven conveyancing lawyer is not available you can review your lease to see if it allows you to sublet the property. The accepted inference is that if the deeds are silent, subletting is allowed. There may be a precondition that you need to obtain consent via your landlord or some other party before subletting. The net result is you not allowed to sublet without prior consent. Such consent must not not be unreasonably refused ore delayed. If your lease does not allow you to sublet you should ask your landlord for their consent.

Due to sign contracts shortly on a studio apartment in Porthleven. Conveyancing lawyers assured me that they are sending me a report tomorrow. Are there areas in the report that I should be focusing on?

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

  • You should be sent a copy of the lease
  • Does the lease prohibit wood flooring?
  • You need to be told what counts as a Nuisance in the lease
  • Whether your lease has a provision for a reserve fund?
  • 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.
  • 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 For details of the information to be included in your report on your leasehold property in Porthleven please ask your solicitor in advance of your conveyancing in Porthleven

    • I am looking at a two flats in Porthleven which have in the region of 50 years remaining on the lease term. Will this present a problem?

    A lease is a right to use the premises for a prescribed time frame. As a lease shortens the saleability of the lease reduces and results in it becoming more expensive to extend the lease. This is why it is advisable to extend the lease term. More often than not it is difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We advise that you get professional help from a conveyancer and surveyor with experience in this field

    I've recently bought a leasehold flat in Porthleven. Am I liable to pay service charges relating to a period prior to my ownership?

    In a situation where the service charge has already been demanded from the previous lessee 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).

    Do you have any advice for leasehold conveyancing in Porthleven from the perspective of speeding up the sale process?

    • Much of the frustration in leasehold conveyancing in Porthleven can be reduced where you get in touch lawyers as soon as you market your property and request that they start to collate the leasehold documentation which will be required by the purchasers’ conveyancers.
    • Many freeholders or Management Companies in Porthleven levy fees for supplying management packs for a leasehold property. You or your lawyers should discover the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Porthleven.
  • In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? Porthleven leases often stipulate that internal structural changes or laying down wooden flooring require a licence from the Landlord consenting to such alterations. Should you dont have the approvals to hand do not communicate with the landlord without checking with your lawyer in advance.
  • A minority of Porthleven leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. The bank reference should make it clear that the buyer is 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 buyers or their solicitors.
  • If you have the benefit of shareholding in the Management Company, you should make sure that you hold the original share certificate. Obtaining a replacement share certificate is often a time consuming process and delays many a Porthleven conveyancing transaction. If a duplicate share is necessary, you should approach the company officers or managing agents (where relevant) for this as soon as possible.

    • I invested in buying a garden flat in Porthleven, conveyancing having been completed in 2012. Can you give me give me an indication of the likely cost of a lease extension? Similar properties in Porthleven with over 90 years remaining are worth £210,000. The ground rent is £65 levied per year. The lease ends on 21st October 2099

    With 75 years unexpired the likely cost is going to range 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 extending a lease, but we cannot give you the actual costs in the absence of detailed investigations. You should not use the figures in tribunal or court proceedings. There may be other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.

    Other Topics

    Lease Extensions in Porthleven