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Questions and Answers: Tintagel leasehold conveyancing

I’m about to sell my garden apartment in Tintagel.Conveyancing solicitors are to be appointed soon but I have just had a yearly service charge demand – should I leave it to the buyer to sort out?

The sensible thing to do is 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 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've found a house that appears to meet my requirements, at a reasonable figure which is making it more attractive. I have subsequently found out that the title is leasehold rather than freehold. I would have thought that there are issues purchasing a leasehold house in Tintagel. Conveyancing lawyers have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Tintagel ?

Most houses in Tintagel are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Tintagel in which case you should be shopping around for a Tintagel conveyancing practitioner and be sure that they are used to advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as requiring the freeholder’sconsent to conduct changes to the property. You may also be required to pay a contribution towards the upkeep of the communal areas where the property is located on an estate. Your conveyancer should advise you fully on all the issues.

I own a leasehold flat in Tintagel. Conveyancing and Nationwide Building Society mortgage organised. A letter has just been received from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in Tintagel who previously acted has now retired.What should I do?

The first thing you should do is contact the Land Registry to be sure that this person is in fact the registered owner of the freehold reversion. There is no need to instruct a Tintagel conveyancing lawyer to do this as it can be done on-line for £3. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

If all goes to plan we aim to complete the sale of our £125000 maisonette in Tintagel in 5 days. The landlords agents has quoted £396 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Tintagel?

Tintagel conveyancing on leasehold apartments more often than not necessitates the purchaser’s solicitor sending questions for the landlord to answer. Although the landlord is not legally bound to address these enquiries the majority will be content to assist. They are entitled charge a reasonable administration fee for responding to enquiries or supplying documentation. There is no set fee. The average costs for the information that you are referring to is over three hundred pounds, in some transactions it exceeds £800. The management information fee levied by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration charges, otherwise the charge is technically not due. In reality you have little choice but to pay whatever is requested of you should you wish to exchange contracts with the buyer.

When it comes to leasehold conveyancing in Tintagel what are the most common lease defects?

Leasehold conveyancing in Tintagel is not unique. All leases are unique and drafting errors can result in certain provisions are missing. For example, if your lease is missing any of the following, it could be defective:

  • A provision to repair to or maintain parts of the property
  • Insurance obligations
  • A provision for the recovery of money spent for the benefit of another party.
  • Service charge per centages that don't add up correctly leaving a shortfall

A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Santander, The Royal Bank of Scotland, and Platform Home Loans Ltd all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, forcing the buyer to withdraw.

I am the registered owner of a studio flat in Tintagel, conveyancing having been completed 8 years ago. How much will my lease extension cost? Comparable properties in Tintagel with an extended lease are worth £195,000. The ground rent is £65 invoiced every year. The lease comes to an end on 21st October 2099

With 75 years unexpired the likely cost is going to span between £10,500 and £12,000 as well as costs.

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 due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.

Other Topics

Lease Extensions in Tintagel