Due to sign contracts shortly on a ground floor flat in Torpoint. Conveyancing lawyers assured me that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?

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

• You should be sent a copy of the lease

Defining your rights in respect of common areas in the block.By way of example, does the lease permit a right of way over a path or hallways?

Does the lease require carpeting throughout thus preventing wood flooring?

Repair and maintenance of the flat

Changes to the flat (alterations and additions)

The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.

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 For a comprehensive list of information to be included in your report on your leasehold property in Torpoint please ask your lawyer in ahead of your conveyancing in Torpoint

I own a leasehold flat in Torpoint. Conveyancing and Barclays Direct mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1992. The conveyancing practitioner in Torpoint who previously acted has now retired.Do I pay?

The first thing you should do is contact HMLR to be sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Torpoint conveyancing practitioner to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

Last month I purchased a leasehold flat in Torpoint. Do I have any liability for service charges for periods before my ownership?

Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Can you provide any top tips for leasehold conveyancing in Torpoint with the purpose of speeding up the sale process?

• A significant proportion of the delay in leasehold conveyancing in Torpoint can be reduced where you get in touch lawyers as soon as your agents start marketing the property and request that they start to put together the leasehold documentation which will be required by the purchasers’ representatives.
• Many landlords or Management Companies in Torpoint charge for supplying management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. 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 usual cause of delay in leasehold conveyancing in Torpoint.

If you have had conflict with your landlord or managing agents it is very important that these are resolved before the property is put on the market. The buyers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You will have to accept that you will have to pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. 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 buyers, but it is clearly preferable to reveal the dispute as historic rather than ongoing.

If you have the benefit of shareholding in the Management Company, you should ensure that you hold the original share certificate. Organising a re-issued share certificate can be a lengthy formality and delays many a Torpoint home move. Where a new share certificate is necessary, do contact the company officers or managing agents (if applicable) for this as soon as possible.

You may think that you are aware of the number of years remaining on your lease but it would be wise to verify this via your conveyancers. A purchaser's lawyer will be unlikely to recommend their client to where the lease term is below 75 years. In the circumstances it is important at an as soon as possible that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

Completion in due on the sale of our £400000 apartment in Torpoint in 5 days. The landlords agents has quoted £396 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Torpoint?

For most leasehold sales in Torpoint conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Answering conveyancing due diligence enquiries
• Where consent is required before sale in Torpoint
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Torpoint leasehold property is £350. For Torpoint conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to supply the information.

I purchased a leasehold flat in Torpoint, conveyancing formalities finalised in 1998. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Torpoint with over 90 years remaining are worth £265,000. The ground rent is £60 yearly. The lease ceases on 21st October 2092

With only 68 years remaining on your lease the likely cost is going to span between £13,300 and £15,400 as well as costs.

The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.

Other Topics

Lease Extensions in Torpoint