Sample questions relating to Porthleven leasehold conveyancing
I am on look out for some leasehold conveyancing in Porthleven. Before I get started I require certainty as to the number of years remaining on the lease.
Assuming the lease is registered - and 99.9% are in Porthleven - 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.
I wish to rent out my leasehold flat in Porthleven. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Your lease governs the relationship between the landlord and you the flat owner; specifically, it will say if subletting is banned, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Porthleven do not prevent an absolute prevention of subletting – such a clause would undoubtedly devalue the flat. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.
My wife and I purchased a leasehold house in Porthleven. Conveyancing and Britannia mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1998. The conveyancing practitioner in Porthleven who previously acted has now retired.What should I do?
The first thing you should do is make enquiries of the Land Registry to be sure that the individual purporting to own the freehold is in fact the new freeholder. You do not need to instruct a Porthleven conveyancing firm to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Can you offer any advice when it comes to finding a Porthleven conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a property lawyer for your lease extension (regardless if they are a Porthleven conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We suggested that you speak with several firms including non Porthleven conveyancing practices before you 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?
What makes a Porthleven lease defective?
Leasehold conveyancing in Porthleven is not unique. Most leases are unique and drafting errors can sometimes mean that certain clauses are missing. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain elements of the premises
- 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 difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Nationwide Building Society, The Royal Bank of Scotland, and Nottingham Building Society all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, forcing the buyer to pull out.
I own a 1 bedroom flat in Porthleven, conveyancing having been completed half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Porthleven with a long lease are worth £215,000. The ground rent is £55 invoiced every year. The lease runs out on 21st October 2088
With only 65 years remaining on your lease we estimate the price of your lease extension to span between £19,000 and £22,000 plus costs.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.