I am hoping to sign contracts shortly on a basement flat in Cockermouth. Conveyancing lawyers have said that they report fully next week. What should I be looking out for?

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

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder

Back In 2002, I bought a leasehold flat in Cockermouth. Conveyancing and Bank of Ireland mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1993. The conveyancing practitioner in Cockermouth who previously acted has now retired.What should I do?

The first thing you should do is contact the Land Registry to be sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. There is no need to instruct a Cockermouth conveyancing lawyer to do this as it can be done on-line for £3. Rest assured that in any event, 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 flat in Cockermouth. Am I liable to pay service charges relating to a period prior to 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. It is an essential part 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).

I am a negotiator for a busy estate agent office in Cockermouth where we see a few flat sales put at risk due to short leases. I have received inconsistent advice from local Cockermouth conveyancing firms. Could you clarify whether the vendor of a flat can commence the lease extension process for the purchaser on completion of the sale?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.

An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

What makes a Cockermouth lease problematic?

Leasehold conveyancing in Cockermouth is not unique. All leases is drafted differently and drafting errors can result in certain clauses are erroneous. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts of the premises
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Lloyds TSB Bank, Barnsley Building Society, and Bank of Ireland all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, forcing the buyer to withdraw.

I acquired a studio flat in Cockermouth, conveyancing having been completed half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Cockermouth with over 90 years remaining are worth £259,000. The ground rent is £65 per annum. The lease expires on 21st October 2090

With just 66 years left to run we estimate the price of your lease extension to be between £18,100 and £20,800 plus professional fees.

The figure above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.

Other Topics

Lease Extensions in Cockermouth