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 NatWest be sure to find a lawyer on their approved list. Find a Truro conveyancing lawyer with our search tool

Common questions relating to Truro leasehold conveyancing

My partner and I may need to let out our Truro ground floor flat temporarily due to a career opportunity. We used a Truro conveyancing practice in 2001 but they have closed and we did not think at the time seek any guidance as to whether the lease allows us to sublet. How do we find out?

Even though your previous Truro conveyancing solicitor is not available you can review your lease to see if you are permitted to let out the apartment. The accepted inference is that if the deeds are silent, subletting is permitted. Quite often there is a prerequisite that you need to obtain permission via your landlord or other appropriate person before subletting. The net result is that you cannot sublet in the absence of prior permission. Such consent must not not be unreasonably withheld. If the lease prohibits you from letting out the property you should ask your landlord if they are willing to waive this restriction.

I am hoping to complete next month on a studio apartment in Truro. Conveyancing solicitors have said that they are sending me a report within the next couple of days. What should I be looking out for?

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

  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • Does the lease prohibit wood flooring?
  • Does the lease prevent you from letting out the property, or working from home
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
  • 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 Truro please enquire of your solicitor in advance of your conveyancing in Truro

    • I am attracted to a couple of maisonettes in Truro which have approximately forty five years left on the leases. should I be concerned?

    There is no doubt about it. A leasehold flat in Truro is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it adversely affects the salability of the property. The majority of buyers and banks, leases with less than eighty years become less and less marketable. 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 a residence 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 Truro 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 choosing a Truro conveyancing firm to carry out our lease extension conveyancing?

    If you are instructing a property lawyer for your lease extension (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 talk with several firms including non Truro conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be of use:

    • What volume of lease extensions have they carried out in Truro in the last twenty four months?
  • Can they put you in touch with client in Truro who can give a testimonial?

    • Do you have 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 bypassed if you appoint lawyers the minute you market your property and ask them to collate the leasehold information which will be required by the purchasers’ lawyers.
    • If you have carried out any alterations to the premises would they have required Landlord’s approval? In particular have you laid down wooden flooring? Truro leases often stipulate that internal structural changes or installing wooden flooring require a licence issued by the Landlord consenting to such changes. Should you fail to have the paperwork in place do not communicate with the landlord without checking with your solicitor in the first instance.
  • Some Truro leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference should make it clear that the buyer is 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 purchasers or their lawyers.
  • If you have had any disputes with your landlord or managing agents it is essential that these are settled prior to the flat being marketed. The buyers and their solicitors will be nervous about purchasing a property where there is a current dispute. You may have to bite the bullet 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 clearly preferable to present the dispute as over as opposed to ongoing.
  • If you have the benefit of shareholding in the Management Company, you should make sure that you have the original share certificate. Arranging a re-issued share certificate can be a lengthy process and delays many a Truro home move. Where a new share certificate is necessary, you should approach the company director and secretary or managing agents (where applicable) for this at the earliest opportunity.

    • Truro Conveyancing for Leasehold Flats - A selection of Questions you should consider before Purchasing

      How long is the Lease? How many of the leaseholders are in arrears for their maintenance charge payments? The majority of Truro leasehold properties will have a service bill for maintenance of the block invoiced by the freeholder. If you acquire the flat you will have to meet this liability, usually in instalments accross the year. This could vary from several hundred pounds to thousands of pounds for bigger purpose-built blocks. There will also be a ground rent for you to pay annual, normally this is not a large sum, say about £50-£100 but you need to enquire it because occasionally it could be many hundreds of pounds.

    Other Topics

    Lease Extensions in Truro