Having had my offer accepted I require leasehold conveyancing in Aberbargoed. Before diving in I require certainty as to the unexpired term of the lease.

If the lease is registered - and most 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.

I am hoping to put an offer on a small detached house that seems to meet my requirements, at a great price which is making it more attractive. I have since discovered that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Aberbargoed. Conveyancing lawyers have not yet been instructed. Will they explain the issues?

The majority of houses in Aberbargoed are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. We note that you are purchasing in Aberbargoed in which case you should be shopping around for a Aberbargoed conveyancing practitioner and check that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as obtaining the landlord’spermission to conduct alterations. It may be necessary to pay a service charge towards the upkeep of the communal areas where the house is part of an estate. Your lawyer will advise you fully on all the issues.

I am employed by a busy estate agency in Aberbargoed where we see a few flat sales derailed due to leases having less than 80 years remaining. I have received inconsistent advice from local Aberbargoed conveyancing solicitors. Please can you clarify whether the owner of a flat can commence the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to sit tight for 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 simultaneously with completion of the sale.

An alternative approach is 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.

Can you offer any advice when it comes to finding a Aberbargoed conveyancing practice to carry out our lease extension conveyancing?

When appointing a conveyancer for lease extension works (regardless if they are a Aberbargoed conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We advise that you talk with several firms including non Aberbargoed conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be of use:

• How familiar is the practice with lease extension legislation?
• How many lease extensions has the firm completed in Aberbargoed in the last year?

Do you have any top tips for leasehold conveyancing in Aberbargoed from the perspective of saving time on the sale process?

• Much of the delay in leasehold conveyancing in Aberbargoed can be bypassed where you instruct lawyers as soon as you market your property and request that they start to put together the leasehold information which will be required by the purchasers’ lawyers.
• In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? Aberbargoed leases often stipulate that internal structural changes or laying down wooden flooring require a licence issued by the Landlord consenting to such alterations. Where you dont have the paperwork in place you should not communicate with the landlord without contacting your solicitor first.
• A minority of Aberbargoed leases require Licence to Assign from the landlord. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the yearly 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 service charge figures so that they can pass this information on to the purchasers or their solicitors.
• If there is a history of any disputes with your landlord or managing agents it is very important that these are resolved prior to the flat being marketed. The buyers and their solicitors will be concerned about purchasing a flat where a dispute is ongoing. You may have to bite the bullet and discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is better to present the dispute as historic as opposed to unsettled.
• You may think that you are aware of the number of years left on your lease but it would be advisable double-check via your conveyancers. A purchaser's conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is under 75 years. It is therefore important at an early stage that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

Aberbargoed Leasehold Conveyancing - Sample of Questions you should consider Prior to Purchasing

The best form of lease arrangement is if the freehold reversion is in the ownership of the leaseholders. In this situation the leaseholders benefit from being in charge if their destiny and even though a managing agent is frequently employed if the building is larger than a house conversion, the managing agent is directed by the tenants.