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When it comes to leasehold conveyancing in St Columb, you will need to appoint a conveyancing solicitor with leasehold experience. Whether your lender is to be Santander, Yorkshire Building Society or NatWest be sure to choose a lawyer on their panel. Feel free to use our search tool

Sample questions relating to St Columb leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in St Columb. Before diving in I require certainty as to the remaining lease term.

Assuming the lease is registered - and most are in St Columb - 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.

Looking forward to sign contracts shortly on a basement flat in St Columb. Conveyancing solicitors inform me that they are sending me a report within the next couple of days. What should I be looking out for?

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

  • You should receive 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 not letting the lease term falling below eighty years
  • Does the lease prevent you from subletting the property, or working from home
  • You should 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
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be contained in your report on your leasehold property in St Columb please ask your conveyancer in advance of your conveyancing in St Columb

    • I have just started marketing my basement apartment in St Columb.Conveyancing lawyers have not yet been instructed but I have just had a quarterly service charge invoice – should I leave it to the buyer to sort out?

    It best that you clear the invoice 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 management companies will not acknowledge the buyer until 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. This will smooth the conveyancing process.

    I am tempted by the attractive purchase price for a two apartments in St Columb which have in the region of fifty years unexpired on the lease term. Will this present a problem?

    There are plenty of short leases in St Columb. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease shortens the value of the lease deteriorate and results in it becoming more expensive to extend the lease. For this reason it is often a good idea to extend the lease term. Sometimes it is difficult to sell a property with a short lease because mortgage companies may be reluctant to lend money on such properties. Lease extension can be a difficult process. We recommend you seek professional help from a conveyancer and surveyor with experience in this arena

    I work for a busy estate agent office in St Columb where we have witnessed a number of leasehold sales put at risk as a result of leases having less than 80 years remaining. I have received conflicting advice from local St Columb conveyancing firms. Please can you confirm whether the seller of a flat can instigate the lease extension formalities for the buyer?

    As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.

    Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

    St Columb Conveyancing for Leasehold Flats - A selection of Questions you should ask Prior to buying

      Who manages the building? Are any of leasehold owners in dispute over their service charge payments? Please note if it is less than eighty years it will affect the value of the property. It is worth checking with your bank that they are happy with residual term of the lease. A short lease means that you will almost definitely need a lease extension at some point and it is worth finding out how much this will be. For most St Columblease extensions you would be required to have owned the property for two years in order to be eligible to carry out a lease extension.

    Other Topics

    Lease Extensions in St Columb