I am on look out for some leasehold conveyancing in Ivybridge. Before I get started 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 Ivybridge - 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 wish to rent out my leasehold flat in Ivybridge. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?

Notwithstanding that your previous Ivybridge conveyancing lawyer is no longer around you can check your lease to see if you are permitted to let out the apartment. The accepted inference is that if the deeds are non-specific, subletting is allowed. There may be a precondition that you must seek permission via your landlord or other appropriate person before subletting. The net result is that you cannot sublet in the absence of prior permission. The consent is not allowed to be unreasonably refused ore delayed. If your lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.

I've found a house that appears to meet my requirements, at a great price which is making it all the more appealing. I have just been informed that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Ivybridge. Conveyancing advisers have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Ivybridge ?

The majority of houses in Ivybridge are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. It is clear that you are buying in Ivybridge so you should seriously consider looking for a Ivybridge conveyancing solicitor and check that they are used to advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as requiring the freeholder’sconsent to conduct changes to the property. You may also be required to pay a service charge towards the maintenance of the estate where the property is part of an estate. Your lawyer should appraise you on the various issues.

I am a negotiator for a busy estate agent office in Ivybridge where we have witnessed a number of flat sales put at risk as a result of short leases. I have been given contradictory information from local Ivybridge conveyancing solicitors. Can you clarify whether the vendor of a flat can initiate the lease extension formalities 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. This means that the proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.

Alternatively, it may be possible to agree the lease extension with the freeholder 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.

In relation to leasehold conveyancing in Ivybridge what are the most frequent lease problems?

There is nothing unique about leasehold conveyancing in Ivybridge. All leases is drafted differently and drafting errors can result in certain clauses are erroneous. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain elements of the property
• 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 will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Chelsea Building Society, and Britannia all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, obliging the buyer to pull out.

I bought a 1st floor flat in Ivybridge, conveyancing formalities finalised 6 years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Ivybridge with over 90 years remaining are worth £267,000. The ground rent is £65 levied per year. The lease expires on 21st October 2106

With 80 years left to run the likely cost is going to range between £8,600 and £9,800 plus legals.

The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more detailed investigations. You should not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.