I am in need of some leasehold conveyancing in Cockermouth. Before diving in I want to be sure as to the number of years remaining on the lease.

If the lease is registered - and most are in Cockermouth - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I today plan to offer on a house that seems to tick a lot of boxes, at a great figure which is making it all the more appealing. I have subsequently discovered that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Cockermouth. Conveyancing advisers have not yet been appointed. Will they explain the issues?

The majority of houses in Cockermouth are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. We note that you are buying in Cockermouth in which case you should be shopping around for a Cockermouth conveyancing solicitor and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as requiring the landlord’spermission to carry out changes to the property. It may be necessary to pay a service charge towards the maintenance of the communal areas where the house is located on an estate. Your solicitor should advise you fully on all the issues.

Last month I purchased a leasehold flat in Cockermouth. Do I have any liability for service charges relating to a period prior to my ownership?

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).

Do you have any top tips for leasehold conveyancing in Cockermouth with the purpose of saving time on the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Cockermouth can be reduced where you get in touch lawyers the minute your agents start advertising the property and request that they start to collate the leasehold documentation which will be required by the purchasers’ lawyers.
• In the event that you altered the property did you need the Landlord’s permission? Have you, for example installed wooden flooring? Cockermouth leases often stipulate that internal structural alterations or laying down wooden flooring calls for a licence from the Landlord consenting to such changes. Should you dont have the consents to hand do not communicate with the landlord without checking with your solicitor in the first instance.
• Some Cockermouth leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should notify your estate agents 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 actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.
• If you hold a share in a the Management Company, you should make sure that you have the original share certificate. Arranging a replacement share certificate is often a lengthy formality and slows down many a Cockermouth home move. Where a new share certificate is necessary, do contact the company director and secretary or managing agents (where applicable) for this as soon as possible.
• You may think that you are aware of the number of years left on your lease but it would be wise to verify this by asking your lawyers. A purchaser's lawyer will be unlikely to recommend their client to to exchange contracts if the lease term is below 80 years. It is therefore important at an as soon as possible that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

What makes a Cockermouth lease unmortgageable?

Leasehold conveyancing in Cockermouth is not unique. Most leases is drafted differently and legal mistakes in the legal wording can result in certain provisions are not included. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain elements of the premises
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Accord Mortgages Ltd, Coventry Building Society, and Clydesdale all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, forcing the buyer to withdraw.

Cockermouth Conveyancing for Leasehold Flats - A selection of Queries before Purchasing

What is the service charge and ground rent on the apartment?