Looking forward to exchange soon on a studio apartment in Truro. Conveyancing lawyers assured me that they will have a report out to me on Monday. Are there areas in the report that I should be focusing on?

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

• Setting out your rights in respect of common areas in the building.E.G., does the lease provide for a right of way over a path or staircase?

Does the lease prohibit wood flooring?

You must be told what counts as a Nuisance in the lease

You should have a good understanding of the insurance provisions

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

What you can do if a neighbour breach a clause of their lease?

What the implications are if you breach a clause of your lease? For details of the information to be included in your report on your leasehold property in Truro please enquire of your conveyancer in advance of your conveyancing in Truro

I own a leasehold flat in Truro. Conveyancing and National Westminster Bank mortgage organised. A letter has just been received from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Truro who acted for me is not around.What should I do?

First contact HMLR to be sure that this person is in fact the registered owner of the freehold reversion. There is no need to incur the fees of a Truro conveyancing practitioner to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I've recently bought a leasehold house in Truro. Am I liable to pay service charges relating to a period prior to my ownership?

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 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 advice for leasehold conveyancing in Truro with the purpose of speeding up the sale process?

• Much of the delay in leasehold conveyancing in Truro can be avoided if you get in touch lawyers as soon as your agents start advertising the property and ask them to put together the leasehold information needed by the buyers lawyers.
• Many landlords or Management Companies in Truro charge for supplying management packs for a leasehold homes. You or your lawyers should enquire as to the actual amount of the charges. The management information sought on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Truro.

In the event that you altered the property did you need the Landlord’s approval? Have you, for example laid down wooden flooring? Truro leases often stipulate that internal structural changes or laying down wooden flooring calls for a licence issued by the Landlord consenting to such works. Where you dont have the approvals in place do not communicate with the landlord without checking with your conveyancer first.

Some Truro leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference should make it clear that the buyer is financially capable of paying the annual 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 lawyers.

If you have had conflict with your freeholder or managing agents it is very important that these are settled before the property is marketed. The buyers and their solicitors will be warry about purchasing a flat where a dispute is unsettled. You may need to swallow your pride and discharge any arrears of service charge or resolve 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 details of the dispute to the buyers, but it is better to reveal the dispute as over rather than unsettled.

If all goes to plan we aim to complete our sale of a £475000 maisonette in Truro next Thursday . The landlords agents has quoted £324 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Truro?

Truro conveyancing on leasehold maisonettes normally necessitates administration charges invoiced by landlords agents :

• Answering pre-contract 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 solicitor will have no control over the level of the charges for this information but the average costs for the information for Truro leasehold property 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 the information.

I acquired a studio flat in Truro, conveyancing was carried out 2012. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Truro with an extended lease are worth £264,000. The ground rent is £45 yearly. The lease expires on 21st October 2101

With 80 years unexpired we estimate the premium for your lease extension to span between £9,500 and £11,000 plus 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 a more accurate figure in the absence of detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.

Other Topics

Lease Extensions in Truro