Having had my offer accepted I require leasehold conveyancing in Trelogan. Before I get started I would like to find out the number of years remaining on the lease.

Assuming the lease is recorded at the land registry - and almost all are in Trelogan - then the leasehold title will always include the short particulars 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 have recently realised that I have Fifty years remaining on my flat in Trelogan. I am keen to get lease extension but my freeholder is missing. What should I do?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. You will be obliged to demonstrate that you or your lawyers have done all that could be expected to find the landlord. On the whole a specialist should be helpful to carry out a search and prepare a report to be accepted by the court as evidence that the freeholder can not be located. It is wise to seek advice from a property lawyer both on investigating the landlord’s absence and the application to the County Court overseeing Trelogan.

I’m about to sell my 2 bed flat in Trelogan.Conveyancing has not commenced but I have just had a half-yearly service charge demand – what should I do?

It best that you pay the service charge 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 unless 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 hoping to put an offer on a small detached house that appears to meet my requirements, at a reasonable price which is making it all the more appealing. I have just been informed that the title is leasehold as opposed to freehold. I would have thought that there are issues purchasing a house with a leasehold title in Trelogan. Conveyancing solicitors have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Trelogan ?

The majority of houses in Trelogan are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in Trelogan in which case you should be shopping around for a Trelogan conveyancing solicitor and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. As a leaseholder 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’spermission to carry out alterations. It may be necessary to pay a contribution towards the upkeep of the estate where the property is part of an estate. Your conveyancer will advise you fully on all the issues.

I am tempted by the attractive purchase price for a two maisonettes in Trelogan both have approximately fifty years left on the lease term. Do I need to be concerned?

There is no doubt about it. A leasehold apartment in Trelogan is a deteriorating asset as a result of the reducing lease term. 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 less than 75 years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises 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 property 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 Trelogan conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed 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.

Leasehold Conveyancing in Trelogan - A selection of Questions you should consider Prior to Purchasing

Is anyone aware of any major works on the horizon that will add a premium to the maintenance fees? Who manages the block? Its a good idea to discover as much as possible regarding the company managing the block as they can either make your living at the property much easier or uncomfortable. As the proprietor of a leasehold property you are frequently in the clutches of the managing agents both financially and when it comes to practical matters such as the tidiness of the common parts. Don't be shy to ask prospective neighbours if they are happy with their management. Finally, investigate as to the dates that you are obliged pay the service charge to the appropriate party and specifically what you get for your money.

Other Topics

Lease Extensions in Trelogan