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

Get a Quote

Any conveyancing solicitor can theoretically deal with your leasehold conveyancing in Helston, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Helston leasehold conveyancing Example Support Desk Enquiries

I wish to rent out my leasehold apartment in Helston. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?

Some leases for properties in Helston do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.

I am attracted to a two apartments in Helston both have in the region of fifty years unexpired on the lease term. Will this present a problem?

There is no doubt about it. A leasehold apartment in Helston is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it adversely affects the salability of the premises. The majority of buyers and lenders, leases with under 75 years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Helston conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

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

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

  • How experienced is the firm with lease extension legislation?
  • If the firm is not ALEP accredited then why not?

    • Can you provide any advice for leasehold conveyancing in Helston from the point of view of expediting the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Helston can be avoided if you instruct lawyers the minute your agents start advertising the property and request that they start to collate the leasehold information which will be required by the buyers solicitors.
    • The majority landlords or Management Companies in Helston levy fees for supplying management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Helston.
  • If you have carried out any alterations to the residence would they have required Landlord’s approval? In particular have you laid down wooden flooring? Most leases in Helston state that internal structural changes or installing wooden flooring require a licence from the Landlord consenting to such works. If you fail to have the consents in place do not communicate with the landlord without checking with your solicitor in the first instance.
  • Some Helston leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference will need to confirm that the buyers are able to meet the yearly 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 buyers or their lawyers.
  • If you have had any disputes with your landlord or managing agents it is very important that these are resolved prior to the flat being put on the market. The purchasers and their solicitors will be warry about purchasing a flat where there is an ongoing dispute. You may have to bite the bullet and pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is better to present the dispute as historic as opposed to unresolved.

    • What makes a Helston lease unacceptable for security purposes?

    There is nothing unique about leasehold conveyancing in Helston. All leases are individual and legal mistakes in the legal wording can result in certain clauses are wrong. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain parts of the property
    • A duty to insure the building
    • 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 problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , The Mortgage Works, and Aldermore 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 buyer to withdraw.

    Leasehold Conveyancing in Helston - A selection of Queries Prior to buying

      Most Helston leasehold flats will be liable to pay a service charge for maintenance of the building set on behalf of the landlord. Should you acquire the flat you will have to pay this liability, normally in instalments accross the year. This could vary from a couple of hundred pounds to thousands of pounds for buildings with lifts and large common grounds. There will also be a ground rent for you to pay yearly, normally this is not a large figure, say approximately £50-£100 but you should to check as sometimes it can be many hundreds of pounds. Who are the managing agents? In the main the cost for major works tend not to be included within maintenance charges, although there some managing agents in Helston require leaseholders to pay into a reserve fund created for the specific purpose of establishing a fund for larger works.

    Other Topics

    Lease Extensions in Helston