Having checked my lease I have discovered that there are only 72 years left on my lease in Carbis Bay. I now wish to extend my lease but my landlord is can not be found. What should I do?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. You will be obliged to prove that you have used your best endeavours to locate the lessor. On the whole an enquiry agent would be helpful to try and locate and to produce an expert document which can be accepted by the court as proof that the landlord is indeed missing. It is advisable to get professional help from a solicitor in relation to investigating the landlord’s disappearance and the vesting order request to the County Court covering Carbis Bay.

I've found a house that appears to tick a lot of boxes, at a reasonable price which is making it all the more appealing. I have since discovered that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns buying a leasehold house in Carbis Bay. Conveyancing lawyers have not yet been instructed. Will they explain the issues?

The majority of houses in Carbis Bay are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. it is apparent that you are buying in Carbis Bay so you should seriously consider looking for a Carbis Bay conveyancing practitioner and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example requiring the freeholder’spermission to carry out changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the estate where the house is part of an estate. Your conveyancer will advise you fully on all the issues.

I am looking at a two flats in Carbis Bay both have in the region of forty five years unexpired on the lease term. Will this present a problem?

There are no two ways about it. A leasehold flat in Carbis Bay 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 salability of the premises. The majority of buyers and banks, leases with less than 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property 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 a residence 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 Carbis Bay conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. 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.

Last month I purchased a leasehold house in Carbis Bay. Do I have any liability for service charges for periods before my ownership?

Where the service charge has already been demanded from the previous lessee 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 be sure 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).

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

Leasehold conveyancing in Carbis Bay is not unique. Most leases are unique and legal mistakes in the legal wording can sometimes mean that certain provisions are not included. For example, if your lease is missing any of the following, it could be defective:

• 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 could 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. Barclays , Bank of Scotland, and Godiva Mortgages Ltd all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, obliging the buyer to withdraw.

I own a split level flat in Carbis Bay, conveyancing formalities finalised 8 years ago. Can you work out an approximate cost of a lease extension? Equivalent flats in Carbis Bay with an extended lease are worth £205,000. The ground rent is £50 invoiced annually. The lease ceases on 21st October 2083

You have 57 years unexpired we estimate the premium for your lease extension to be between £26,600 and £30,800 plus costs.

The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.