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Torpoint leasehold conveyancing: Q and A’s

Having had my offer accepted I require leasehold conveyancing in Torpoint. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.

Assuming the lease is registered - and almost all are in Torpoint - then the leasehold title will always include the basic details 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.

I would like to let out my leasehold apartment in Torpoint. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?

Even though your last Torpoint conveyancing lawyer is not around you can review your lease to see if you are permitted to let out the premises. The accepted inference is that if the deeds are silent, subletting is permitted. There may be a precondition that you need to seek permission from your landlord or some other party in advance of subletting. This means you not allowed to sublet without prior permission. The consent should not be unreasonably withheld. If the lease prohibits you from letting out the property you should ask your landlord for their consent.

There are only Sixty One years unexpired on my flat in Torpoint. I now want to extend my lease but my freeholder is absent. What options are available to me?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. You will be obliged to prove that you or your lawyers have used your best endeavours to track down the freeholder. For most situations a specialist would be helpful to carry out a search and prepare an expert document to be used as proof that the landlord is indeed missing. It is advisable to get professional help from a conveyancer in relation to investigating the landlord’s absence and the application to the County Court covering Torpoint.

I've found a house that appears to meet my requirements, at a great price which is making it all the more appealing. I have since discovered that it's a leasehold rather than freehold. I would have thought that there are issues purchasing a house with a leasehold title in Torpoint. Conveyancing advisers have are about to be instructed. Will they explain the issues?

Most houses in Torpoint are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. We note that you are buying in Torpoint so you should seriously consider looking for a Torpoint conveyancing solicitor and be sure that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example obtaining the landlord’sconsent to conduct alterations. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the house is part of an estate. Your solicitor should report to you on the legal implications.

Are there frequently found problems that you witness in leases for Torpoint properties?

There is nothing unique about leasehold conveyancing in Torpoint. Most leases are individual and legal mistakes in the legal wording can sometimes mean that certain sections are missing. The following missing provisions could result in a defective lease:

  • Repairing obligations to or maintain elements of the property
  • A duty to insure the building
  • Clauses dealing with recovering service charges for expenditure on the building or common parts.
  • Maintenance charge proportions which don’t add up to the correct percentage

You may encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Accord Mortgages Ltd, Chelsea Building Society, and Nottingham Building Society all have express conveyancing instructions 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 pull out.

Torpoint Leasehold Conveyancing - A selection of Queries before buying

    The best form of lease arrangement is a share of the freehold. In this arrangement the leaseholders have control and although a managing agent is frequently employed if the building is larger than a house conversion, the managing agent retained by the leaseholders. Are there any major works in the near future that could increase the maintenance charges? Most Torpoint leasehold properties will incur a service bill for maintenance of the block invoiced by the management company. If you buy the property you will have to pay this liability, usually in instalments during the year. This can be anything from a few hundred pounds to thousands of pounds for bigger purpose-built buildings. There will also be a ground rent to be met yearly, ordinarily this is not a large figure, say approximately £25-£75 but you should to check it because on occasion it could be surprisingly expensive.

Other Topics

Lease Extensions in Torpoint