I have just started marketing my 2 bed flat in Truro.Conveyancing lawyers have not yet been instructed but I have just had a quarterly maintenance charge invoice – Do I pay up?

The sensible thing to do is discharge 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 managing agents 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. Having a clear account will assist your cause and will leave you no worse off financially.

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 more attractive. I have just discovered that the title is leasehold rather than freehold. I am assuming that there are particular concerns buying a leasehold house in Truro. Conveyancing lawyers have are soon to be instructed. Will my lawyers set out the implications 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 used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Truro so you should seriously consider looking for a Truro conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example requiring the landlord’sconsent to conduct changes to the property. You may also be required to pay a contribution towards the maintenance of the estate where the property is part of an estate. Your solicitor will appraise you on the various issues.

Back In 2009, I bought a leasehold flat in Truro. Conveyancing and Aldermore mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1992. The conveyancing solicitor in Truro who acted for me is not around.Any advice?

The first thing you should do is make enquiries of the Land Registry to be sure that this person is indeed the new freeholder. You do not need to incur the fees of a Truro conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I've recently bought a leasehold house in Truro. Am I liable to pay service charges for periods before my ownership?

Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, 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).

When it comes to leasehold conveyancing in Truro what are the most frequent lease defects?

There is nothing unique about leasehold conveyancing in Truro. Most leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain provisions are wrong. 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 property
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, Leeds Building Society, and Alliance & Leicester all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, obliging the purchaser to withdraw.

I am the registered owner of a 1st floor flat in Truro, conveyancing was carried out 9 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Truro with an extended lease are worth £208,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease comes to an end on 21st October 2099

With 75 years left to run the likely cost is going to range between £9,500 and £11,000 plus plus your own and the landlord's "reasonable" professional fees.

The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.

Other Topics

Lease Extensions in Truro