Leasehold Conveyancing in Truro - Get a Quote from the leasehold experts approved by your lender

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When it comes to leasehold conveyancing in Truro, you will need to appoint a conveyancing solicitor with leasehold experience. Whether your lender is to be Lloyds, Birmingham Midshires or Nationwide make sure you find a lawyer on their approved list. Feel free to use our search tool

Recently asked questions relating to Truro leasehold conveyancing

My wife and I may need to sub-let our Truro basement flat for a while due to a career opportunity. We used a Truro conveyancing practice in 2001 but they have closed and we did not have the foresight to get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?

The lease governs the relationship between the freeholder and you the flat owner; specifically, it will set out if subletting is prohibited, or permitted but only subject to certain conditions. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. Most leases in Truro do not prevent subletting altogether – such a provision would undoubtedly devalue the property. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly sending a copy of the sublease.

I today plan to offer on a house that seems to tick a lot of boxes, at a great figure which is making it all the more appealing. I have subsequently found out that the title is leasehold rather than freehold. I am assuming that there are issues buying a leasehold house in Truro. Conveyancing advisers have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Truro ?

The majority of houses in Truro are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. it is apparent that you are buying in Truro so you should seriously consider looking for a Truro conveyancing solicitor and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’sconsent to conduct changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the property is part of an estate. Your conveyancer will report to you on the legal implications.

I work for a long established estate agency in Truro where we have experienced a few flat sales derailed as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Truro conveyancing firms. Can you shed some light as to whether the vendor of a flat can commence the lease extension process for the purchaser on completion of the sale?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

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

When appointing a conveyancer for lease extension works (regardless if they are a Truro conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We recommend that you speak with two or three firms including non Truro conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be useful:

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

    • Do you have any top tips for leasehold conveyancing in Truro with the aim of saving time on the sale process?

    • Much of the delay in leasehold conveyancing in Truro can be avoided where you appoint lawyers the minute your agents start advertising the property and request that they start to put together the leasehold documentation needed by the purchasers’ lawyers.
    • The majority freeholders or Management Companies in Truro levy fees for supplying management packs for a leasehold homes. You or your lawyers should find out 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 obtain the necessary information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Truro.
  • If you have had conflict with your freeholder or managing agents it is essential that these are settled prior to the flat being marketed. The buyers and their solicitors will be warry about purchasing a flat where a dispute is unresolved. You may need to swallow your pride and discharge 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 purchasers, but it is better to reveal the dispute as historic as opposed to ongoing.
  • If you are supposed to have a share in the freehold, you should ensure that you have the original share certificate. Arranging a re-issued share certificate can be a time consuming formality and slows down many a Truro conveyancing transaction. Where a new share is necessary, do contact the company officers or managing agents (if relevant) for this as soon as possible.
  • You may think that you are aware of the number of years left on your lease but it would be wise to double-check by asking your solicitors. A purchaser's lawyer will not be happy to advise their client to where the lease term is below 80 years. In the circumstances it is important at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • Leasehold Conveyancing in Truro - Sample of Questions you should consider Prior to buying

      Best to be warned if redecorating or some other significant cost is due in the near future that will be shared between the leaseholders and will materially increase the the maintenance fees or result in a one off payment. Are any of leasehold owners in dispute over their service charge liability? How much is the yearly service fee and ground rent?

    Other Topics

    Lease Extensions in Truro