Having had my offer accepted I require leasehold conveyancing in Port Isaac. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.

Assuming the lease is registered - and most are in Port Isaac - 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 only have 72 years left on my lease in Port Isaac. I now wish to get lease extension but my freeholder is missing. What are my options?

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 for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. You will be obliged to demonstrate that you or your lawyers have used your best endeavours to locate the freeholder. On the whole an enquiry agent would be useful to try and locate and prepare an expert document to be used as proof that the freeholder is indeed missing. It is wise to seek advice from a conveyancer in relation to proving the landlord’s absence and the application to the County Court overseeing Port Isaac.

I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a great figure which is making it all the more appealing. I have subsequently been informed that it's a leasehold rather than freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Port Isaac. Conveyancing lawyers have are about to be appointed. Will they explain the issues?

Most houses in Port Isaac 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 buying in Port Isaac in which case you should be shopping around for a Port Isaac conveyancing practitioner and be sure that they have experience in advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as requiring the freeholder’spermission to conduct changes to the property. It may be necessary to pay a contribution towards the upkeep of the communal areas where the property is part of an estate. Your conveyancer should advise you fully on all the issues.

Can you offer any advice when it comes to choosing a Port Isaac conveyancing practice to deal with our lease extension?

When appointing a conveyancer for your lease extension (regardless if they are a Port Isaac conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with two or three firms including non Port Isaac conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be useful:

• How familiar is the firm with lease extension legislation?

When it comes to leasehold conveyancing in Port Isaac what are the most common lease defects?

Leasehold conveyancing in Port Isaac is not unique. All leases are unique and drafting errors can sometimes mean that certain provisions are missing. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain elements of the premises
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

You may have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, The Mortgage Works, and Platform Home Loans Ltd all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, obliging the buyer to pull out.

Port Isaac Conveyancing for Leasehold Flats - A selection of Questions you should ask Prior to buying

Who manages the building? The answer will be important as a) areas can result in problems in the building as the communal areas may begin to deteriorate where repairs are not paid for b) if the tenants have an issue with the running of the building you will want to have complete disclosure For most Port Isaac leaseholds the cost for major works tend not to be wrapped into the maintenance charges, although some managing agents in Port Isaac require leasehold owners to pay into a sinking fund created for the specific intention of establishing a fund for major works.

Other Topics

Lease Extensions in Port Isaac