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When it comes to leasehold conveyancing in St Mawes, you will need to chose a conveyancing lawyer with leasehold experience. Whether your lender is to be Clydesdale , Birmingham Midshires or Nationwide make sure you find a lawyer on their approved list. Feel free to use our search tool

Sample questions relating to St Mawes leasehold conveyancing

I am tempted by the attractive purchase price for a two flats in St Mawes both have approximately 50 years remaining on the lease term. Do I need to be concerned?

A lease is a right to use the property for a period of time. As a lease shortens the saleability of the lease deteriorate and results in it becoming more expensive to extend the lease. This is why it is generally wise to extend the lease term. It is often difficulties arise selling premises with a short lease because mortgage lenders may be reluctant to lend money on properties of this type. Lease enfranchisement can be a difficult process. We recommend you get professional help from a conveyancer and surveyor with experience in this area

I work for a reputable estate agency in St Mawes where we have witnessed a number of leasehold sales put at risk as a result of short leases. I have received contradictory information from local St Mawes conveyancing solicitors. Please can you shed some light as to whether the vendor of a flat can start the lease extension process for the purchaser on completion of the sale?

As long as the seller has been the owner 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 proposed purchaser can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.

Alternatively, it may be possible to agree the lease extension with the freeholder 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.

What advice can you give us when it comes to finding a St Mawes conveyancing practice to deal with our lease extension?

If you are instructing a solicitor for lease extension works (regardless if they are a St Mawes conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with two or three firms including non St Mawes conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

  • How familiar is the practice with lease extension legislation?
  • What are the costs for lease extension conveyancing?

    • Do you have any top tips for leasehold conveyancing in St Mawes with the purpose of saving time on the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in St Mawes can be reduced if you appoint lawyers the minute your agents start marketing the property and request that they start to collate the leasehold documentation which will be required by the buyers solicitors.
    • The majority freeholders or managing agents in St Mawes levy fees for providing management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management information sought on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most common cause of delay in leasehold conveyancing in St Mawes.
  • If you have carried out any alterations to the property would they have required Landlord’s permission? In particular have you laid down wooden flooring? Most leases in St Mawes state that internal structural alterations or addition of wooden flooring calls for a licence from the Landlord approving such works. Where you fail to have the consents in place do not contact the landlord without checking with your conveyancer in advance.
  • If you have had any disputes with your freeholder or managing agents it is very important that these are resolved prior to the flat being marketed. The purchasers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You may have to bite the bullet and pay any arrears of service charge or settle the dispute prior to completion of the sale. 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 present the dispute as over rather than unresolved.
  • If you have the benefit of shareholding in the Management Company, you should ensure that you are holding the original share document. Obtaining a duplicate share certificate is often a lengthy process and delays many a St Mawes home move. If a new share certificate is required, do contact the company director and secretary or managing agents (if applicable) for this as soon as possible.

    • Completion in due on the sale of our £150000 flat in St Mawes next week. The management company has quoted £408 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in St Mawes?

    St Mawes conveyancing on leasehold apartments usually involves the purchaser’s solicitor submitting questions for the landlord to answer. Although the landlord is not legally bound to answer such questions the majority will be content to assist. They are at liberty levy a reasonable charge for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is over three hundred pounds, in some cases it is in excess of £800. The management information fee levied by the landlord must be sent together with a summary of rights and obligations in respect of administration charges, without which the invoice is technically not due. Reality however dictates that you have little choice but to pay whatever is demanded if you want to complete the sale of your home.

    I inherited a split level flat in St Mawes, conveyancing was carried out 2004. Can you work out an approximate cost of a lease extension? Corresponding properties in St Mawes with a long lease are worth £255,000. The average or mid-range amount of ground rent is £65 yearly. The lease comes to an end on 21st October 2080

    With only 55 years left to run we estimate the price of your lease extension to span between £30,400 and £35,200 as well as costs.

    The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in St Mawes