I am in need of some leasehold conveyancing in Wadebridge. Before I get started I would like to find out the unexpired term of the lease.

If the lease is registered - and 99.9% are in Wadebridge - 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 today plan to offer on a house that seems to be perfect, at a great figure which is making it all the more appealing. I have since discovered that it's a leasehold as opposed to freehold. I would have thought that there are issues purchasing a leasehold house in Wadebridge. Conveyancing advisers have are soon to be instructed. Will they explain the issues?

The majority of houses in Wadebridge are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are buying in Wadebridge in which case you should be shopping around for a Wadebridge conveyancing solicitor and check that they are used to advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as requiring the landlord’sconsent to carry out alterations. You may also be required to pay a maintenance charge towards the maintenance of the estate where the property is located on an estate. Your conveyancer should advise you fully on all the issues.

I own a leasehold flat in Wadebridge. Conveyancing and Platform Home Loans Ltd mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1993. The conveyancing solicitor in Wadebridge who previously acted has now retired.What should I do?

The first thing you should do is contact the Land Registry to be sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a Wadebridge conveyancing firm to do this as you can do this on the Land Registry website for £3. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I've recently bought a leasehold house in Wadebridge. Am I liable to pay service charges relating to a period prior to my ownership?

Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Do you have any top tips for leasehold conveyancing in Wadebridge with the aim of speeding up the sale process?

• Much of the frustration in leasehold conveyancing in Wadebridge can be avoided where you appoint lawyers as soon as your agents start advertising the property and ask them to collate the leasehold documentation which will be required by the purchasers’ lawyers.
• The majority landlords or Management Companies in Wadebridge levy fees for providing management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management pack sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Wadebridge.
• A minority of Wadebridge leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.
• If you have had any disputes with your freeholder or managing agents it is very important that these are settled prior to the flat being marketed. The buyers and their solicitors will be nervous about purchasing a flat where there is a current dispute. You may need to swallow your pride and discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is better to reveal the dispute as historic as opposed to unresolved.
• If you are supposed to have a share in the Management Company, you should make sure that you hold the original share certificate. Organising a replacement share certificate can be a lengthy process and delays many a Wadebridge home move. If a new share is required, you should approach the company officers or managing agents (if relevant) for this at the earliest opportunity.

I invested in buying a split level flat in Wadebridge, conveyancing having been completed 2011. How much will my lease extension cost? Similar flats in Wadebridge with over 90 years remaining are worth £217,000. The ground rent is £50 invoiced every year. The lease comes to an end on 21st October 2087

With 61 years unexpired we estimate the premium for your lease extension to be between £20,900 and £24,200 plus legals.

The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.