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Sample questions relating to Tintagel leasehold conveyancing

I have recently realised that I have 72 years left on my lease in Tintagel. I now want to get lease extension but my landlord is can not be found. What options are available to me?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. You will be obliged to prove that you have done all that could be expected to find the landlord. On the whole an enquiry agent should be helpful to conduct investigations and to produce an expert document to be used as proof that the freeholder is indeed missing. It is advisable to get professional help from a solicitor both on proving the landlord’s absence and the vesting order request to the County Court overseeing Tintagel.

Looking forward to exchange soon on a studio apartment in Tintagel. Conveyancing lawyers assured me that they report fully tomorrow. What should I be looking out for?

Your report on title for your leasehold conveyancing in Tintagel 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 informed of the importance of not letting the lease term falling below eighty years
  • Defining your rights in respect of the communal areas in the block.E.G., does the lease permit a right of way over an accessway or hallways?
  • Does the lease prohibit wood flooring?
  • Whether the lease restricts you from renting out the flat, or working from home
  • 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 you can do if a neighbour is in violation of a provision in their lease? For a comprehensive list of information to be contained in your report on your leasehold property in Tintagel please ask your conveyancer in ahead of your conveyancing in Tintagel

    • I have just appointed agents to market my garden apartment in Tintagel.Conveyancing is yet to be initiated but I have just had a yearly maintenance charge invoice – should I leave it to the buyer to sort out?

    Your conveyancing lawyer is likely to suggest that you should pay 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 managing agents 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 couple of maisonettes in Tintagel both have in the region of fifty years left on the lease term. Should I regard a short lease as a deal breaker?

    There are no two ways about it. A leasehold apartment in Tintagel is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it reduces the value of the property. For most purchasers and lenders, leases with under eighty years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Tintagel conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

    Do you have any top tips for leasehold conveyancing in Tintagel with the aim of speeding up the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Tintagel can be bypassed where you instruct lawyers the minute you market your property and request that they start to collate the leasehold information which will be required by the purchasers’ lawyers.
    • Many landlords or managing agents in Tintagel charge for supplying management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management information 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 cause of frustration in leasehold conveyancing in Tintagel.
  • Some Tintagel leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. Any bank reference should make it clear that the buyer is able to meet 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 service charge figures so that they can pass this information on to the purchasers or their lawyers.
  • If you have had conflict with your landlord or managing agents it is essential that these are settled prior to the flat being put on the market. The buyers and their solicitors will be warry about purchasing a property where there is a current dispute. You may need to swallow your pride 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 ahead of 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 historic as opposed to unsettled.
  • You may think that you are aware of the number of years left on your lease but it would be advisable double-check by asking your lawyers. A purchaser's lawyer will not be happy to advise their client to where the lease term is under 75 years. It is therefore important at an early stage that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • Tintagel Conveyancing for Leasehold Flats - A selection of Queries before buying

      It is important to be aware whether redecorating or some other significant cost is coming up to be shared between the leaseholders and may well materially increase the the maintenance costs or necessitate a specific payment. Many Tintagel leasehold properties will incur a service bill for the upkeep of the building invoiced on behalf of the management company. If you buy the property you will have to meet this liability, normally in instalments throughout the year. This could vary from several hundred pounds to thousands of pounds for large purpose-built buildings. There will also be a ground rent to be met annual, this is usually not a exorbitant amount, say around £25-£75 but you should to enquire it because on occasion it could be many hundreds of pounds. How many of the leaseholders are in arrears for their maintenance charge payments?

    Other Topics

    Lease Extensions in Tintagel