Due to complete next month on a studio apartment in Abercarn. Conveyancing lawyers have said that they are sending me a report tomorrow. What should I be looking out for?

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

• Whether the lease restricts you from subletting the flat, or having a home office for business
• Ground rent - how much and when you need to pay, and also know whether this will change in the future
• An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
• You should have a good understanding of the insurance provisions
• Repair and maintenance of the flat
• 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
• What the implications are if you breach a clause of your lease?

Estate agents have just been given the go-ahead to market my 2 bed apartment in Abercarn.Conveyancing solicitors are to be appointed soon but I have just had a half-yearly maintenance charge invoice – what should I do?

The sensible thing to do is pay 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 managing agents 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 reasonable figure which is making it all the more appealing. I have just found out that the title is leasehold rather than freehold. I am assuming that there are particular concerns purchasing a leasehold house in Abercarn. Conveyancing advisers have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Abercarn ?

Most houses in Abercarn are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Abercarn so you should seriously consider looking for a Abercarn conveyancing solicitor and check that they have experience in dealing with leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example requiring the landlord’spermission to conduct changes to the property. It may be necessary to pay a contribution towards the maintenance of the communal areas where the house is located on an estate. Your solicitor will advise you fully on all the issues.

I am a negotiator for a reputable estate agency in Abercarn where we have witnessed a few leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Abercarn conveyancing solicitors. Could you clarify whether the vendor of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.

Alternatively, it may be possible to agree the lease extension with the freeholder 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 purchaser.

Do you have any top tips for leasehold conveyancing in Abercarn from the perspective of expediting the sale process?

• Much of the delay in leasehold conveyancing in Abercarn can be avoided where you instruct lawyers as soon as you market your property and ask them to collate the leasehold documentation needed by the buyers lawyers.
• The majority freeholders or managing agents in Abercarn levy fees for supplying management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Abercarn.
• A minority of Abercarn leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should notify your estate agents to make sure that the purchasers obtain 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 lawyers.
• If there is a history of conflict 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 reluctant to purchase a flat where there is a current dispute. You may have to bite the bullet and discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is clearly preferable 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 wise to double-check by asking your conveyancers. A buyer’s lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is below 80 years. It is therefore essential at an as soon as possible that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

Abercarn Leasehold Conveyancing - Sample of Queries before Purchasing

What is the annual maintenance fee and ground rent? What is the name of the managing agents?