Leasehold Conveyancing in Port Isaac - Get a Quote from the leasehold experts approved by your lender

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Port Isaac leasehold conveyancing Example Support Desk Enquiries

I am on look out for some leasehold conveyancing in Port Isaac. Before I get started I want to be sure as to the remaining lease term.

Assuming the lease is recorded at the land registry - 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.

My partner and I may need to let out our Port Isaac 1st floor flat temporarily due to a career opportunity. We used a Port Isaac conveyancing practice in 2004 but they have since shut and we did not think at the time get any advice as to whether the lease allows us to sublet. How do we find out?

Even though your last Port Isaac conveyancing solicitor is no longer available you can review your lease to see if you are permitted to let out the premises. The accepted inference is that if the deeds are silent, subletting is permitted. There may be a precondition that you are obliged to obtain permission via your landlord or some other party prior to subletting. The net result is that you cannot sublet in the absence of prior permission. Such consent is not allowed to be unreasonably turned down. If the lease prohibits you from subletting the property you should ask your landlord for their consent.

I have just started marketing my basement flat in Port Isaac.Conveyancing is yet to be initiated but I have just received a yearly service charge demand – should I leave it to the buyer to sort out?

The sensible thing to do is pay the service charge 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 unless 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.

I work for a busy estate agent office in Port Isaac where we see a few leasehold sales derailed due to leases having less than 80 years remaining. I have been given inconsistent advice from local Port Isaac conveyancing solicitors. Can you confirm whether the vendor of a flat can commence 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 commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 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 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.

All being well we will complete the disposal of our £400000 apartment in Port Isaac next week. The management company has quoted £300 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Port Isaac?

Port Isaac conveyancing on leasehold apartments typically involves administration charges invoiced by managing agents :

  • Completing pre-exchange enquiries
  • Where consent is required before sale in Port Isaac
  • Copies of the building insurance and schedule
  • Deeds of covenant upon sale
  • Registering of the assignment of the change of lessee after a sale
Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Port Isaac leasehold premises is £350. For Port Isaac conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to provide the information.

Port Isaac Conveyancing for Leasehold Flats - Examples of Queries Prior to Purchasing

    How many of the leaseholders are in arrears for their service charge payments? Can you tell me if there are any major works in the planning that could increase the maintenance fees? What prohibitions are there in the Port Isaac Lease?

Other Topics

Lease Extensions in Port Isaac