I want to sublet my leasehold apartment in Port Isaac. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

Even though your last Port Isaac conveyancing solicitor is not available you can review your lease to see if you are permitted to let out the property. The rule is that if the lease is non-specific, subletting is permitted. Quite often there is a prerequisite that you are obliged to obtain permission via your landlord or some other party prior to subletting. The net result is you not allowed to sublet without first obtaining permission. Such consent should not be unreasonably refused ore delayed. If the lease does not allow you to sublet you should ask your landlord for their consent.

I am hoping to put an offer on a small detached house that seems to be perfect, at a great price which is making it all the more appealing. I have just been informed that the title is leasehold rather than freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Port Isaac. Conveyancing advisers have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Port Isaac ?

The majority of houses in Port Isaac are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. it is apparent that you are purchasing in Port Isaac so you should seriously consider looking for a Port Isaac conveyancing solicitor and be sure that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as requiring the landlord’sconsent to conduct alterations. You may also be required to pay a contribution towards the upkeep of the estate where the property is part of an estate. Your solicitor should advise you fully on all the issues.

Last month I purchased a leasehold flat in Port Isaac. Am I liable to pay service charges for periods before completion of my purchase?

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).

Can you provide any advice for leasehold conveyancing in Port Isaac from the perspective of speeding up the sale process?

• Much of the frustration in leasehold conveyancing in Port Isaac can be avoided where you get in touch lawyers as soon as your agents start advertising the property and ask them to collate the leasehold documentation which will be required by the buyers solicitors.
• Many freeholders or Management Companies in Port Isaac charge for supplying management packs for a leasehold property. You or your lawyers should find out the fee that they propose to charge. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Port Isaac.
• If you have carried out any alterations to the residence would they have required Landlord’s permission? Have you, for example laid down wooden flooring? Most leases in Port Isaac state that internal structural changes or laying down wooden flooring calls for a licence issued by the Landlord consenting to such alterations. Should you dont have the consents to hand you should not contact the landlord without checking with your solicitor first.
• If you hold a share in a the Management Company, you should make sure that you hold the original share document. Arranging a replacement share certificate can be a time consuming formality and delays many a Port Isaac home move. If a reissued share is necessary, do contact the company officers or managing agents (where relevant) for this as soon as possible.
• You believe that you know the number of years remaining on your lease but you should verify this via your conveyancers. A purchaser's lawyer will be unlikely to recommend their client to to exchange contracts if the lease term is under 80 years. In the circumstances it is essential at an early stage 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.

What makes a Port Isaac lease problematic?

There is nothing unique about leasehold conveyancing in Port Isaac. All leases is drafted differently and drafting errors can result in certain sections 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 building
• 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 will encounter 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 Royal Bank of Scotland, and Britannia all have express 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 grant the mortgage, forcing the purchaser to pull out.

I am the registered owner of a 1 bedroom flat in Port Isaac, conveyancing having been completed in 2008. How much will my lease extension cost? Similar flats in Port Isaac with a long lease are worth £185,000. The average or mid-range amount of ground rent is £55 yearly. The lease ceases on 21st October 2090

With only 64 years remaining on your lease we estimate the price of your lease extension to span between £13,300 and £15,400 plus costs.

The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.