I've found a house that seems to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have since found out that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a leasehold house in Trelogan. Conveyancing advisers have are about to be instructed. Will they explain the issues?

The majority of houses in Trelogan are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. It is clear that you are purchasing in Trelogan in which case you should be looking for a Trelogan conveyancing practitioner and be sure that they have experience in transacting on leasehold houses. First you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as requiring the freeholder’sconsent to conduct alterations. You may also be required to pay a maintenance charge towards the upkeep of the estate where the house is located on an estate. Your solicitor should appraise you on the various issues.

I've recently bought a leasehold house in Trelogan. Am I liable to pay service charges for periods before completion of my purchase?

Where the service charge has already been demanded from the previous owner 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. A critical element of leasehold conveyancing for your conveyancer to ensure 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).

What advice can you give us when it comes to appointing a Trelogan conveyancing practice to deal with our lease extension?

If you are instructing a conveyancer for your lease extension (regardless if they are a Trelogan conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with two or three firms including non Trelogan conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be helpful:

• How familiar is the firm with lease extension legislation?
• What volume of lease extensions have they completed in Trelogan in the last year?

Do you have any top tips for leasehold conveyancing in Trelogan from the perspective of speeding up the sale process?

• A significant proportion of the delay in leasehold conveyancing in Trelogan can be reduced where you get in touch lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold information needed by the purchasers’ lawyers.
• The majority freeholders or managing agents in Trelogan charge for supplying management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Trelogan.
• If you have carried out any alterations to the property would they have required Landlord’s approval? Have you, for example laid down wooden flooring? Trelogan leases often stipulate that internal structural changes or laying down wooden flooring require a licence issued by the Landlord consenting to such works. If you dont have the consents to hand you should not contact the landlord without contacting your conveyancer in the first instance.
• Some Trelogan 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 obtain bank and professional references. Any bank reference will need to confirm that the buyers are able to meet the yearly 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 solicitors.
• If you hold a share in a the freehold, you should make sure that you hold the original share document. Organising a duplicate share certificate can be a lengthy process and slows down many a Trelogan home move. Where a duplicate share certificate is necessary, do contact the company officers or managing agents (where relevant) for this at the earliest opportunity.

In relation to leasehold conveyancing in Trelogan what are the most frequent lease defects?

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

• A provision to repair to or maintain elements of the building
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• 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. Nationwide Building Society, The Mortgage Works, and Aldermore all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the buyer to pull out.

I inherited a ground floor flat in Trelogan, conveyancing having been completed in 2011. Can you work out an approximate cost of a lease extension? Comparable flats in Trelogan with an extended lease are worth £235,000. The ground rent is £55 invoiced every year. The lease runs out on 21st October 2101

With 75 years left to run we estimate the premium for your lease extension to range between £13,300 and £15,400 as well as plus your own and the landlord's "reasonable" professional fees.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.