Examples of recent questions relating to leasehold conveyancing in Aberbargoed
I am on look out for some leasehold conveyancing in Aberbargoed. Before I get started I want to be sure as to the number of years remaining on the lease.
Assuming the lease is registered - and almost all are in Aberbargoed - 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.
Having checked my lease I have discovered that there are only Seventy years unexpired on my lease in Aberbargoed. I now wish to get lease extension but my landlord is missing. What options are available to me?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply 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 magistrate. However, you will be required to prove that you have used your best endeavours to locate the landlord. For most situations a specialist may be helpful to carry out a search and prepare an expert document which can be accepted by the court as proof that the landlord can not be located. It is wise to seek advice from a conveyancer both on devolving into the landlord’s absence and the vesting order request to the County Court overseeing Aberbargoed.
I've found a house that appears to be perfect, at a reasonable price which is making it all the more appealing. I have subsequently discovered that it's a leasehold as opposed to freehold. I would have thought that there are issues buying a leasehold house in Aberbargoed. Conveyancing lawyers have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Aberbargoed ?
Most houses in Aberbargoed are freehold and not 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 clear that you are buying in Aberbargoed in which case you should be looking for a Aberbargoed conveyancing solicitor and check that they are used to dealing with leasehold houses. First you will need to check the number of years remaining. As a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as obtaining the freeholder’spermission to conduct changes to the property. You may also be required to pay a service charge towards the maintenance of the estate where the house is located on an estate. Your solicitor should appraise you on the various issues.
Back In 2002, I bought a leasehold flat in Aberbargoed. Conveyancing and Bank of Scotland mortgage organised. I have received a letter from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1992. The conveyancing practitioner in Aberbargoed who acted for me is not around.What should I do?
The first thing you should do is make enquiries of the Land Registry to make sure that this person is indeed the new freeholder. There is no need to instruct a Aberbargoed conveyancing practitioner to do this as you can do this on the Land Registry website for £3. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am tempted by the attractive purchase price for a two apartments in Aberbargoed which have in the region of 50 years unexpired on the lease term. Will this present a problem?
A lease is a right to use the property for a period of time. As a lease gets shorter the marketability of the lease decreases and results in it becoming more costly to acquire a lease extension. For this reason it is often a good idea to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We advise that you get professional help from a solicitor and surveyor with experience in this arena
I own a studio flat in Aberbargoed, conveyancing formalities finalised 2006. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Aberbargoed with over 90 years remaining are worth £198,000. The average or mid-range amount of ground rent is £45 per annum. The lease comes to an end on 21st October 2087
With just 66 years remaining on your lease the likely cost is going to span between £12,400 and £14,200 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.