I am in need of some leasehold conveyancing in Port Isaac. Before I get started I want to be sure as to the unexpired term of the lease.

If the lease is registered - and almost all are in Port Isaac - then the leasehold title will always include the short particulars 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 Fifty years unexpired on my flat in Port Isaac. I am keen to extend my lease but my landlord is absent. What should I do?

On the basis that you qualify, 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 enable the lease to be granted an extra 90 years by the magistrate. You will be obliged to prove that you or your lawyers have used your best endeavours to locate the landlord. In some cases an enquiry agent should be useful to try and locate and prepare a report which can be accepted by the court as proof that the freeholder is indeed missing. It is advisable to get professional help from a conveyancer in relation to devolving into the landlord’s disappearance and the application to the County Court overseeing Port Isaac.

Planning to complete next month on a leasehold property in Port Isaac. Conveyancing solicitors assured me that they will have a report out to me tomorrow. What should I be looking out for?

The report on title for your leasehold conveyancing in Port Isaac should include some of the following:

• The total extent of the demise. This will be the flat itself but might include a roof space or basement if applicable.
• Defining your legal entitlements in relation to the communal areas in the block.For example, does the lease include a right of way over a path or hallways?
• Whether the lease restricts you from letting out the property, or having a home office for business
• 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
• Changes to the flat (alterations and additions)
• 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.

Estate agents have just been given the go-ahead to market my ground floor flat in Port Isaac.Conveyancing solicitors are to be appointed soon but I have just had a quarterly maintenance charge invoice – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should clear the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

In relation to leasehold conveyancing in Port Isaac what are the most frequent lease defects?

There is nothing unique about leasehold conveyancing in Port Isaac. Most leases are unique and legal mistakes in the legal wording can result in certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain parts of the building
• 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

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. Birmingham Midshires, Chelsea Building Society, and Platform Home Loans Ltd all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, forcing the buyer to pull out.

I bought a studio flat in Port Isaac, conveyancing was carried out half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent flats in Port Isaac with a long lease are worth £230,000. The average or mid-range amount of ground rent is £50 per annum. The lease terminates on 21st October 2101

With just 75 years remaining on your lease we estimate the premium for your lease extension to range between £11,400 and £13,200 as well as legals.

The figure above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.