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Leasehold conveyancing in Redruth is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Redruth and next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Questions and Answers: Redruth leasehold conveyancing

I am hoping to put an offer on a small detached house that appears to meet my requirements, at a reasonable figure which is making it more attractive. I have just been informed that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns buying a leasehold house in Redruth. Conveyancing advisers have are about to be instructed. Will they explain the issues?

Most houses in Redruth are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are purchasing in Redruth in which case you should be shopping around for a Redruth conveyancing solicitor and check that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as requiring the freeholder’sconsent to carry out changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the communal areas where the house is located on an estate. Your lawyer should advise you fully on all the issues.

Back In 2005, I bought a leasehold house in Redruth. Conveyancing and Yorkshire Building Society mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1992. The conveyancing solicitor in Redruth who acted for me is not around.Any advice?

First contact HMLR to be sure that this person is indeed the registered owner of the freehold reversion. You do not need to instruct a Redruth conveyancing firm to do this as it can be done on-line for £3. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

Last month I purchased a leasehold house in Redruth. Am I liable to pay 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. Strange as it may seem, 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 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 top tips for leasehold conveyancing in Redruth from the point of view of saving time on the sale process?

  • Much of the delay in leasehold conveyancing in Redruth can be avoided where you appoint lawyers the minute you market your property and request that they start to collate the leasehold documentation which will be required by the purchasers’ lawyers.
  • The majority landlords or Management Companies in Redruth charge for supplying management packs for a leasehold homes. You or your lawyers should discover the fee that they propose to charge. The management information sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common cause of delay in leasehold conveyancing in Redruth.
  • If you have had any disputes with your freeholder 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 reluctant to purchase a flat where there is an ongoing dispute. You may have to bite the bullet and discharge any arrears of service charge or settle 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 particulars of the dispute to the purchasers, but it is better to present the dispute as over rather than unsettled.
  • If you have the benefit of shareholding in the Management Company, you should ensure that you have the original share document. Obtaining a replacement share certificate is often a lengthy formality and frustrates many a Redruth home move. If a duplicate share certificate is necessary, do contact the company officers or managing agents (if relevant) for this sooner rather than later.
  • You may think that you are aware of the number of years left on your lease but it would be advisable verify this by asking your lawyers. A purchaser's lawyer will be unlikely to recommend their client to where the remaining number of years is less than 75 years. It is therefore important at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

    • All being well we will complete the disposal of our £250000 flat in Redruth in just under a week. The landlords agents has quoted £408 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in Redruth?

    Redruth conveyancing on leasehold apartments often requires the buyer’s conveyancer submitting enquiries for the landlord to address. Although the landlord is under no legal obligation to respond to such questions most will be willing to assist. They may invoice a reasonable charge for answering questions or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is £350, in some transactions it exceeds £800. The administration charge invoiced by the landlord must be accompanied by a synopsis of rights and obligations in respect of administration fees, without which the charge is technically not due. Reality however dictates that you have no option but to pay whatever is requested of you if you want to sell the property.

    Redruth Leasehold Conveyancing - A selection of Queries before Purchasing

      You should want to discover as much as possible concerning the managing agents as they can either make your life much easier or a lot more difficult. As the owner of a leasehold property you will be at the mercy of the managing agents from a financial perspective and when it comes to practical issues like the upkeep of the communal areas. Ask prospective neighbours whether they are happy with their service. On a final note, investigate as to the dates that the service charges are due to the managing agents and precisely what you get for your money. Is the freehold owned collectively by the tenants? Is anyone aware of any major works in the near future that will add a premium to the service costs?

    Other Topics

    Lease Extensions in Redruth