I am in need of some leasehold conveyancing in Gunnislake. Before diving in I would like to find out the number of years remaining on the lease.

Assuming the lease is recorded at the land registry - and almost all are in Gunnislake - 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.

There are only 68 years remaining on my lease in Gunnislake. I now wish to get lease extension but my freeholder is can not be found. What should I do?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to find the landlord. For most situations an enquiry agent should be helpful to carry out a search and prepare an expert document to be used as proof that the freeholder can not be located. It is wise to seek advice from a solicitor both on proving the landlord’s disappearance and the vesting order request to the County Court covering Gunnislake.

I have just started marketing my basement apartment in Gunnislake.Conveyancing has not commenced but I have just had a yearly maintenance charge demand – what should I do?

It best that you pay the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer 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.

I've recently bought a leasehold flat in Gunnislake. Do I have any liability for service charges relating to a period prior to completion of my purchase?

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. A critical element 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 agency in Gunnislake where we have experienced a number of flat sales put at risk as a result of short leases. I have received inconsistent advice from local Gunnislake conveyancing firms. Could you clarify whether the vendor of a flat can commence the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.

Alternatively, it may be possible 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.

I own a studio flat in Gunnislake, conveyancing having been completed in 1995. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Gunnislake with over 90 years remaining are worth £265,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease terminates on 21st October 2088

With only 62 years remaining on your lease we estimate the price of your lease extension to range between £20,900 and £24,200 plus costs.

The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.