Leasehold Conveyancing in St Austell - Get a Quote from the leasehold experts approved by your lender

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While any conveyancing solicitor can theoretically handle your leasehold conveyancing in St Austell, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Common questions relating to St Austell leasehold conveyancing

I am in need of some leasehold conveyancing in St Austell. Before I set the wheels in motion I want to be sure as to the number of years remaining on the lease.

If the lease is recorded at the land registry - and almost all are in St Austell - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

Expecting to complete next month on a ground floor flat in St Austell. Conveyancing solicitors inform me that they are sending me a report on Monday. Are there areas in the report that I should be focusing on?

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

  • Do you need to have carpet in the flat or are you allowed wood flooring?
  • You should be told what counts as a Nuisance in the lease
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • 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 options are open to you if a neighbour breach a clause of their lease? For a comprehensive list of information to be included in your report on your leasehold property in St Austell please ask your lawyer in advance of your conveyancing in St Austell

    • I am tempted by the attractive purchase price for a two flats in St Austell both have in the region of 50 years left on the lease term. Will this present a problem?

    There are plenty of short leases in St Austell. The lease is a legal document that entitles you to use the premises for a period of time. As the lease shortens the marketability of the lease decreases and results in it becoming more expensive to acquire a lease extension. This is why it is generally wise to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease because mortgage companies may be reluctant to lend money on such properties. Lease extension can be a protracted process. We recommend you get professional assistance from a solicitor and surveyor with experience in this field

    I've recently bought a leasehold property in St Austell. Do I have any liability for service charges relating to a period prior to 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).

    What advice can you give us when it comes to appointing a St Austell conveyancing firm to deal with our lease extension?

    When appointing a property lawyer for lease extension works (regardless if they are a St Austell conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with two or three firms including non St Austell conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be useful:

    • How experienced is the firm with lease extension legislation?
  • What are the charges for lease extension conveyancing?

    • I am the registered owner of a 2 bed flat in St Austell, conveyancing was carried out in 2000. How much will my lease extension cost? Corresponding flats in St Austell with over 90 years remaining are worth £243,000. The average or mid-range amount of ground rent is £55 levied per year. The lease terminates on 21st October 2105

    You have 80 years left to run we estimate the price of your lease extension to be between £10,500 and £12,000 plus legals.

    The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.

    Other Topics

    Lease Extensions in St Austell