I am in need of some leasehold conveyancing in Looe. Before I set the wheels in motion I would like to find out the remaining lease term.

If the lease is recorded at the land registry - and 99.9% are in Looe - 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 72 years unexpired on my lease in Looe. I need to get lease extension but my landlord is can not be found. What are my options?

If you meet the appropriate requirements, 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 extended by the Court. You will be obliged to demonstrate that you or your lawyers have made all reasonable attempts to locate the freeholder. In some cases a specialist would be useful to conduct investigations and prepare a report to be accepted by the court as evidence that the freeholder is indeed missing. It is wise to seek advice from a property lawyer in relation to devolving into the landlord’s absence and the application to the County Court overseeing Looe.

I today plan to offer on a house that seems to meet my requirements, at a reasonable figure which is making it all the more appealing. I have just found out that the title is leasehold as opposed to freehold. I would have thought that there are issues buying a leasehold house in Looe. Conveyancing advisers have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Looe ?

The majority of houses in Looe are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Looe in which case you should be shopping around for a Looe conveyancing solicitor and check that they are used to advising on leasehold houses. First you will need to check the number of years remaining. Being a tenant you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’spermission to carry out alterations. You may also be required to pay a service charge towards the upkeep of the estate where the property is part of an estate. Your lawyer should report to you on the legal implications.

I am a negotiator for a reputable estate agent office in Looe where we have experienced a number of leasehold sales derailed due to leases having less than 80 years remaining. I have been given conflicting advice from local Looe conveyancing solicitors. Please can you shed some light as to whether the vendor of a flat can start the lease extension formalities for the buyer?

As long as the seller has been the owner 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 buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with 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 purchaser.

Do you have any top tips for leasehold conveyancing in Looe from the point of view of speeding up the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Looe can be bypassed if you instruct lawyers as soon as your agents start marketing the property and ask them to put together the leasehold information which will be required by the purchasers’ solicitors.
• Many freeholders or Management Companies in Looe levy fees for supplying management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management pack sought on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most common reason for delay in leasehold conveyancing in Looe.
• If you have carried out any alterations to the premises would they have required Landlord’s consent? In particular have you laid down wooden flooring? Most leases in Looe state that internal structural alterations or laying down wooden flooring calls for a licence from the Landlord approving such alterations. Should you dont have the consents in place you should not contact the landlord without contacting your conveyancer before hand.
• A minority of Looe leases require Licence to Assign from the landlord. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. The bank reference should make it clear that the buyer is 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 buyers or their solicitors.
• You believe that you know the number of years remaining on your lease but it would be wise to verify this by asking your conveyancers. A buyer’s lawyer will not be happy to advise their client to where the remaining number of years is below 80 years. It is therefore essential at an early stage that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

Looe Leasehold Conveyancing - Examples of Queries Prior to buying

On the whole the outlay for major works tend not to be included within service charges, albeit that some managing agents in Looe require leasehold owners to contribute towards a reserve fund and this is used to offset against larger repairs or maintenance.