I am in need of some leasehold conveyancing in Torpoint. Before I set the wheels in motion I want to be sure as to the remaining lease term.

Assuming the lease is registered - and most are in Torpoint - 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.

I want to sublet my leasehold flat in Torpoint. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?

A small minority of properties in Torpoint do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to see references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.

I today plan to offer on a house that seems to tick a lot of boxes, at a great figure which is making it all the more appealing. I have subsequently found out that the title is leasehold rather than freehold. I would have thought that there are issues purchasing a house with a leasehold title in Torpoint. Conveyancing advisers have are soon to be instructed. Will my lawyers set out the risks of buying a leasehold house in Torpoint ?

Most houses in Torpoint are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. We note that you are purchasing in Torpoint so you should seriously consider shopping around for a Torpoint conveyancing solicitor and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’spermission to conduct alterations. It may be necessary to pay a maintenance charge towards the upkeep of the communal areas where the house is part of an estate. Your lawyer should appraise you on the various issues.

Back In 2007, I bought a leasehold house in Torpoint. Conveyancing and Clydesdale mortgage organised. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1997. The conveyancing solicitor in Torpoint who acted for me is not around.Do I pay?

First make enquiries of the Land Registry to be sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Torpoint conveyancing practitioner to do this as it can be done on-line for £3. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am a negotiator for a busy estate agent office in Torpoint where we have experienced a number of flat sales derailed due to short leases. I have been given contradictory information from local Torpoint conveyancing firms. Please can you shed some light as to whether the owner of a flat can instigate the lease extension process for the purchaser on completion of the sale?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.

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.

I own a ground floor flat in Torpoint, conveyancing formalities finalised 2007. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Torpoint with an extended lease are worth £205,000. The ground rent is £55 invoiced every year. The lease finishes on 21st October 2104

With 79 years left to run we estimate the premium for your lease extension to span between £10,500 and £12,000 as well as 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 without more comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.

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Lease Extensions in Torpoint