I am on look out for some leasehold conveyancing in Gunnislake. Before I set the wheels in motion I want to be sure as to the unexpired term of the lease.

Assuming the lease is registered - and most are in Gunnislake - then the leasehold title will always include the short particulars 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 have recently realised that I have Seventy years left on my lease in Gunnislake. I am keen to get lease extension but my landlord is absent. What options are available to me?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. However, you will be required to demonstrate that you or your lawyers have done all that could be expected to find the landlord. In some cases a specialist may be helpful to carry out a search and to produce a report which can be used as proof that the landlord is indeed missing. It is advisable to get professional help from a property lawyer both on investigating the landlord’s absence and the application to the County Court overseeing Gunnislake.

Planning to complete next month on a leasehold property in Gunnislake. Conveyancing solicitors inform me that they report fully tomorrow. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Gunnislake should include some of the following:

• The total extent of the property. This will be the apartment itself but could also include a loft or cellar if appropriate.

I've found a house that seems to tick a lot of boxes, at a great price which is making it more attractive. I have just discovered that it's a leasehold rather than freehold. I would have thought that there are issues buying a leasehold house in Gunnislake. Conveyancing solicitors have are soon to be appointed. Will they explain the issues?

Most houses in Gunnislake are freehold rather than 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 purchasing in Gunnislake so you should seriously consider shopping around for a Gunnislake conveyancing solicitor and be sure that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as requiring the freeholder’sconsent to carry out alterations. You may also be required to pay a contribution towards the upkeep of the communal areas where the house is located on an estate. Your conveyancer should report to you on the legal implications.

I own a leasehold flat in Gunnislake. Conveyancing and Coventry Building Society mortgage organised. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1993. The conveyancing practitioner in Gunnislake who acted for me is not around.What should I do?

First contact HMLR to be sure that the individual claiming to own the freehold is in fact the new freeholder. It is not necessary to instruct a Gunnislake conveyancing lawyer to do this as it can be done on-line for a few pound. You should note 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 purchased a basement flat in Gunnislake, conveyancing having been completed in 1995. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Gunnislake with an extended lease are worth £190,000. The ground rent is £50 charged once a year. The lease comes to an end on 21st October 2094

With 69 years unexpired we estimate the premium for your lease extension to be between £13,300 and £15,400 plus costs.

The figure above a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There may be other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.

Other Topics

Lease Extensions in Gunnislake