There are only 72 years remaining on my flat in Looe. I now wish to get lease extension but my landlord is missing. What are my options?

On the basis that 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 mean that your lease can be lengthened by the Court. You will be obliged to prove that you have used your best endeavours to find the lessor. In some cases a specialist should be useful to conduct investigations and to produce an expert document to be used as evidence that the landlord can not be located. It is wise to seek advice from a solicitor both on investigating the landlord’s disappearance and the application to the County Court overseeing Looe.

Planning to sign contracts shortly on a leasehold property in Looe. 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 Looe should include some of the following:

• The unexpired lease term You should be advised as what happens when the lease expires, and aware of the importance of not letting the lease term falling below eighty years
• The physical extent of the property. This will be the property itself but could also include a loft or cellar if appropriate.
• You should be told what constitutes a Nuisance in the lease
• An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
• Whether your lease has a provision for a reserve fund?
• The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
• Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?

I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a great price which is making it all the more appealing. I have since found out that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns buying a leasehold house in Looe. Conveyancing lawyers have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Looe ?

Most houses in Looe are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Looe so you should seriously consider shopping around for a Looe conveyancing practitioner and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. As a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example obtaining the landlord’spermission to conduct changes to the property. You may also be required to pay a contribution towards the upkeep of the estate where the property is located on an estate. Your solicitor should report to you on the legal implications.

I am a negotiator for a long established estate agent office in Looe where we have experienced a number of flat sales put at risk due to short leases. I have been given inconsistent advice from local Looe conveyancing firms. Could you clarify whether the owner of a flat can instigate the lease extension process for the buyer?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to 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 to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.

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.

Can you provide any advice for leasehold conveyancing in Looe from the point of view of expediting the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Looe can be bypassed where you instruct lawyers as soon as you market your property and ask them to collate the leasehold information which will be required by the purchasers’ solicitors.
• The majority landlords or managing agents in Looe levy fees for supplying management packs for a leasehold homes. You or your lawyers should enquire as to the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Looe.
• If you have carried out any alterations to the residence would they have required Landlord’s approval? Have you, for example laid down wooden flooring? Most leases in Looe state that internal structural changes or installing wooden flooring require a licence issued by the Landlord acquiescing to such works. If you dont have the consents in place do not communicate with the landlord without contacting your conveyancer in advance.
• A minority of Looe leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers put in hand bank and professional references. Any bank reference will need to confirm that the buyers are able to meet the annual 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 service charge figures so that they can pass this information on to the purchasers or their solicitors.
• You believe that you know the number of years left on your lease but it would be advisable verify this by asking your solicitors. A purchaser's conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is less than 75 years. In the circumstances it is important at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

I inherited a 1 bedroom flat in Looe, conveyancing was carried out in 1995. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Looe with an extended lease are worth £233,000. The average or mid-range amount of ground rent is £60 invoiced every year. The lease finishes on 21st October 2097

You have 71 years unexpired we estimate the premium for your lease extension to be between £9,500 and £11,000 as well as professional fees.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.