Leasehold Conveyancing in Aberbargoed - Get a Quote from the leasehold experts approved by your lender

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Recently asked questions relating to Aberbargoed leasehold conveyancing

Planning to complete next month on a ground floor flat in Aberbargoed. Conveyancing lawyers inform me that they will have a report out to me tomorrow. What should I be looking out for?

The report on title for your leasehold conveyancing in Aberbargoed should include some of the following:

  • Setting out your rights in respect of common areas in the block.For instance, does the lease provide for a right of way over an accessway or hallways?
  • Whether the lease restricts you from renting out the flat, or working from home
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • Whether your lease has a provision for a reserve fund?
  • Repair and maintenance of the flat
  • Changes to the flat (alterations and additions)
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building For a comprehensive list of information to be included in your report on your leasehold property in Aberbargoed please enquire of your solicitor in advance of your conveyancing in Aberbargoed

    • I am hoping to put an offer on a small detached house that appears to be perfect, at a great price which is making it more attractive. I have just discovered that the title is leasehold rather than freehold. I would have thought 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 who is familiar with the area can assist with the conveyancing process. We note that you are buying in Aberbargoed in which case you should be shopping around for a Aberbargoed conveyancing solicitor and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as requiring the landlord’spermission to carry out alterations. You may also be required to pay a contribution towards the maintenance of the communal areas where the property is located on an estate. Your solicitor should advise you fully on all the issues.

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

    • A significant proportion of the frustration in leasehold conveyancing in Aberbargoed can be bypassed if you instruct lawyers the minute you market your property and ask them to put together the leasehold information needed by the purchasers’ lawyers.
    • Many landlords or managing agents in Aberbargoed charge for supplying management packs for a leasehold homes. You or your lawyers should enquire as to the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Aberbargoed.
  • A minority of Aberbargoed leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers put in hand bank and professional references. The bank reference should make it clear that the buyer is 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 service charge figures so that they can pass this information on to the buyers or their lawyers.
  • If you have had any disputes with your landlord or managing agents it is very important that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You may have to bite the bullet and discharge any arrears of service charge or settle 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 details of the dispute to the buyers, but it is better to present the dispute as over rather than unsettled.
  • You may think that you are aware of the number of years remaining on your lease but it would be wise to verify this by asking your lawyers. A buyer’s lawyer will not be happy to advise their client to where the remaining number of years is less than 75 years. In the circumstances it is important at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

    • If all goes to plan we aim to complete the disposal of our £200000 maisonette in Aberbargoed in 5 days. The managing agents has quoted £348 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Aberbargoed?

    Aberbargoed conveyancing on leasehold maisonettes usually requires the purchaser’s solicitor sending questions for the landlord to answer. Although the landlord is not legally bound to address such questions the majority will be content to do so. They are at liberty levy a reasonable administration fee for responding to enquiries or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some situations it is in excess of £800. The administration charge invoiced by the landlord must be sent together with a summary of rights and obligations in respect of administration charges, without which the charge is not strictly payable. In reality one has little choice but to pay whatever is demanded if you want to complete the sale of your home.

    What makes a Aberbargoed lease unacceptable for security purposes?

    Leasehold conveyancing in Aberbargoed is not unique. Most leases are unique and drafting errors can sometimes mean that certain sections are erroneous. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain parts of the premises
    • Insurance obligations
    • 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

    A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , Virgin Money, and TSB all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, obliging the buyer to withdraw.

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

      Does the lease contain onerous restrictions? Is there a share of the freehold? How many of the leaseholders are in arrears for their service charge payments?

    Other Topics

    Lease Extensions in Aberbargoed