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

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Sample questions relating to Camelford leasehold conveyancing

I only have Fifty years left on my flat in Camelford. I am keen to get lease extension but my landlord is can not be found. What should I do?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. However, you will be required to demonstrate that you have made all reasonable attempts to locate the lessor. For most situations an enquiry agent may be useful to conduct investigations and prepare an expert document to be accepted by the court as proof that the freeholder is indeed missing. It is advisable to get professional help from a property lawyer both on devolving into the landlord’s absence and the vesting order request to the County Court overseeing Camelford.

Looking forward to exchange soon on a garden flat in Camelford. Conveyancing lawyers assured me that they report fully within the next couple of days. What should I be looking out for?

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

  • The unexpired lease term You should be advised as what happens when the lease ends, and aware of the importance of not letting the lease term falling below eighty years
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • Setting out your rights in respect of the communal areas in the block.For example, does the lease grant a right of way over an accessway or hallways?
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • What you can do if a neighbour is in violation of a provision in their lease?
  • What the implications are if you breach a clause of your lease? For details of the information to be contained in your report on your leasehold property in Camelford please ask your lawyer in advance of your conveyancing in Camelford

    • Back In 2004, I bought a leasehold flat in Camelford. Conveyancing and Accord Mortgages Ltd mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1992. The conveyancing solicitor in Camelford who acted for me is not around.What should I do?

    First contact HMLR to make sure that this person is in fact the new freeholder. It is not necessary to instruct a Camelford conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. Rest assured 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.

    Last month I purchased a leasehold house in Camelford. Do I have any liability for service charges for periods before my ownership?

    In a situation 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. 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 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).

    Do you have any top tips for leasehold conveyancing in Camelford with the intention of expediting the sale process?

    • Much of the frustration in leasehold conveyancing in Camelford can be avoided where you appoint lawyers the minute your agents start marketing the property and request that they start to put together the leasehold documentation which will be required by the buyers solicitors.
    • If you have carried out any alterations to the property would they have required Landlord’s approval? Have you, for example installed wooden flooring? Camelford leases often stipulate that internal structural changes or installing wooden flooring necessitate a licence from the Landlord consenting to such alterations. If you dont have the consents to hand do not communicate with the landlord without contacting your conveyancer before hand.
  • A minority of Camelford leases require Licence to Assign from the landlord. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. The bank reference will need to confirm that the buyers are able to meet 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 actual amount of the service charge 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 have the original share certificate. Obtaining a replacement share certificate is often a lengthy process and delays many a Camelford home move. Where a reissued share is required, do contact the company officers or managing agents (if applicable) for this at the earliest opportunity.
  • You may think that you are aware of the number of years remaining on your lease but you should double-check by asking your conveyancers. A purchaser's conveyancer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is below 75 years. In the circumstances it is important at an as soon as possible that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • I bought a garden flat in Camelford, conveyancing formalities finalised half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable properties in Camelford with a long lease are worth £237,000. The ground rent is £50 invoiced annually. The lease terminates on 21st October 2098

    You have 74 years unexpired the likely cost is going to range between £9,500 and £11,000 as well as plus your own and the landlord's "reasonable" professional fees.

    The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There may be other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.

    Other Topics

    Lease Extensions in Camelford