I am on look out for some leasehold conveyancing in Aberbargoed. Before diving in I would like to find out the unexpired term of the lease.

If 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.

I have just appointed agents to market my garden apartment in Aberbargoed.Conveyancing has not commenced but I have just received a quarterly service charge demand – what should I do?

It best that you discharge the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

I am hoping to put an offer on a small detached house that appears to meet my requirements, at a great figure which is making it more attractive. I have just been informed that it's a leasehold as opposed to freehold. I am assuming that there are issues purchasing a leasehold house in Aberbargoed. Conveyancing solicitors have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Aberbargoed ?

The majority of houses in Aberbargoed are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in Aberbargoed so you should seriously consider looking for a Aberbargoed conveyancing solicitor and be sure that they have experience in advising on 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 to the property. The lease will likely included provisions for example requiring the landlord’spermission to carry out changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the house is part of an estate. Your conveyancer will advise you fully on all the issues.

Last month I purchased a leasehold house in Aberbargoed. Do I have any liability for service charges for periods before completion of my purchase?

In a situation 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).

Completion in due on our sale of a £125000 apartment in Aberbargoed in just under a week. The freeholder has quoted £420 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Aberbargoed?

Aberbargoed conveyancing on leasehold apartments typically necessitates administration charges levied by management companies :

• Answering pre-exchange enquiries
• Where consent is required before sale in Aberbargoed
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Aberbargoed leasehold property is £350. For Aberbargoed conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to supply the information.

Leasehold Conveyancing in Aberbargoed - A selection of Questions you should ask Prior to Purchasing

Where a Aberbargoed lease has fewer than eighty years it will have adverse implications on the value of the property. Check with your bank that they are content with the length of the lease. Leases with less than 80 years remaining means that you will almost definitely have to extend the lease at some point and you need to have some idea of how much this would cost. Remember, in most cases you would need to own the property for a couple of years in order to be legally able to extend the lease. Most Aberbargoed leasehold properties will incur a service charge for the upkeep of the block invoiced by the management company. Where you purchase the flat you will have to meet this amount, usually quarterly during the year. This could vary from several hundred pounds to thousands of pounds for bigger purpose-built blocks. In all probability there will be a ground rent to be met yearly, ordinarily this is not a exorbitant amount, say about £25-£75 but you need to enquire it because sometimes it could be surprisingly expensive. How much is the ground rent and service charge?

Other Topics

Lease Extensions in Aberbargoed