Having had my offer accepted I require leasehold conveyancing in Porthleven. Before diving in I want to be sure as to the unexpired term of the lease.

Assuming the lease is recorded at the land registry - and almost all are in Porthleven - 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.

Due to complete next month on a basement flat in Porthleven. Conveyancing lawyers inform me that they report fully on Monday. What should I be looking out for?

Your report on title for your leasehold conveyancing in Porthleven should include some of the following:

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
• Are you allowed to have a pet in the flat?
• Does the lease prevent you from renting out the flat, or having a home office for business
• Ground rent - how much and when you need to pay, and also know whether this will change in the future
• 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
• Whether your lease has a provision for a reserve fund?
• Responsibility for repairing the window frames

I am tempted by the attractive purchase price for a couple of flats in Porthleven both have about forty five years remaining on the lease term. Will this present a problem?

There are no two ways about it. A leasehold flat in Porthleven is a wasting asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it adversely affects the value of the premises. The majority of purchasers and banks, leases with under 75 years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Porthleven conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £ 250000 maisonette in Porthleven in six days. The managing agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Porthleven?

Porthleven conveyancing on leasehold flats normally involves the buyer’s conveyancer submitting questions for the landlord to address. Although the landlord is not legally bound to respond to such questions most will be content to assist. They may levy a reasonable charge for answering questions or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is £350, in some cases it is above £800. The management information fee levied by the landlord must be sent together with a summary of rights and obligations in respect of administration fees, without which the invoice is not strictly payable. Reality however dictates that you have no option but to pay whatever is demanded should you wish to complete the sale of your home.

In relation to leasehold conveyancing in Porthleven what are the most common lease defects?

There is nothing unique about leasehold conveyancing in Porthleven. Most leases are unique and legal mistakes in the legal wording can sometimes mean that certain clauses are not included. 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.
• Service charge per centages that don't add up correctly leaving a shortfall

You may encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Santander, The Royal Bank of Scotland, and Britannia 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 is problematic they may refuse to provide security, forcing the purchaser to pull out.

I acquired a garden 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? Comparable properties in Porthleven with over 90 years remaining are worth £261,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease runs out on 21st October 2085

With 59 years left to run we estimate the premium for your lease extension to range between £24,700 and £28,600 plus professional fees.

The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.