Please explain the implications if my lawyer’s firm is suspended from the Virgin Money Conveyancing panel ahead of completing my conveyancing in Camborne?

The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.

How does conveyancing in Camborne differ for newly converted properties?

Most buyers of new build premises in Camborne contact us having been asked by the builder to exchange contracts and commit to the purchase even before the property is finished. This is because new home sellers in Camborne tend to purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Camborne or who has acted in the same development.

I have been on the look out for a ground for flat up to £235,500 and identified one near me in Camborne I like with a park and railway links in the vicinity, however it's only got 51 remaining years left on the lease. There is not much else in Camborne for this price, so just wondered if I would be making a mistake buying a lease with such few years left?

If you require a mortgage the remaining unexpired lease term will be problematic. Reduce the offer by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least 2 years you may request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this matter.

In what way can the Landlord & Tenant Act 1954 affect my business offices in Camborne and how can you help?

The particular law that you refer to affords protection to commercial lessees, granting the legal entitlement to make a request to court for a continuation of occupancy at the end of an expired lease. There are certain specified grounds that a landlord can refuse a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing practices who use the act to your advantage and help with commercial conveyancing in Camborne

I have just appointed agents to market my ground floor apartment in Camborne. Conveyancing lawyers have not yet been instructed, however I have recently had a quarterly service charge invoice – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should discharge the service charge as normal as all rents and maintenance payments will be allotted on completion, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the next payment date. Most management companies 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.

Camborne Leasehold Conveyancing - Sample of Queries before buying

How much is the maintenance charge and ground rent on the flat? How many of the leaseholders are in arrears for their maintenance charge payments?