Fixed-fee leasehold conveyancing in Truro:

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Top Five Questions relating to Truro leasehold conveyancing

I have recently realised that I have Sixty One years remaining on my lease in Truro. I am keen to get lease extension but my landlord is missing. What are my options?

On the basis that you meet the appropriate requirements, 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 lengthened by the Court. However, you will be required to prove that you have done all that could be expected to track down the lessor. On the whole a specialist may be useful to carry out a search and to produce an expert document to be accepted by the court as evidence that the freeholder is indeed missing. It is wise to seek advice from a solicitor in relation to investigating the landlord’s absence and the application to the County Court overseeing Truro.

I am hoping to exchange soon on a basement flat in Truro. Conveyancing solicitors assured me that they are sending me a report on Monday. Are there areas in the report that I should be focusing on?

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

  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
  • The total extent of the property. This will be the apartment itself but may incorporate a roof space or cellar if applicable.
  • Do you need to have carpet in the flat or are you allowed wood flooring?
  • Whether the lease restricts you from subletting the flat, or working from home
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • You should have a good understanding of the insurance provisions
  • Changes to the flat (alterations and additions) For details of the information to be included in your report on your leasehold property in Truro please ask your conveyancer in ahead of your conveyancing in Truro

  • I have just appointed agents to market my garden flat in Truro.Conveyancing is yet to be initiated but I have just received a half-yearly service charge invoice – Do I pay up?

    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. Having a clear account will assist your cause and will leave you no worse off financially.

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

    When appointing a conveyancer for your lease extension (regardless if they are a Truro conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with several firms including non Truro conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:

    • Can they put you in touch with client in Truro who can give a testimonial?
  • What are the costs for lease extension work?

  • We expect to complete our sale of a £450000 flat in Truro next Wednesday . The freeholder has quoted £336 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Truro?

    Truro conveyancing on leasehold flats normally results in administration charges invoiced by managing agents :

    • Addressing pre-exchange questions
    • Where consent is required before sale in Truro
    • Supplying insurance information
    • Deeds of covenant upon sale
    • Registering of the assignment of the change of lessee after a sale
    Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Truro leasehold premises is £350. For Truro 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 provide answers.

    I am the registered owner of a garden flat in Truro, conveyancing was carried out 4 years ago. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Truro with an extended lease are worth £235,000. The average or mid-range amount of ground rent is £50 yearly. The lease runs out on 21st October 2084

    With just 62 years left to run we estimate the premium for your lease extension to span between £16,200 and £18,600 plus professional fees.

    The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be other concerns 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 Truro