Fixed-fee leasehold conveyancing in Aberdovey:

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Sample questions relating to Aberdovey leasehold conveyancing

I am on look out for some leasehold conveyancing in Aberdovey. Before I set the wheels in motion I require certainty as to the remaining lease term.

Assuming the lease is registered - and 99.9% are in Aberdovey - 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.

Due to complete next month on a garden flat in Aberdovey. Conveyancing solicitors have said that they will have a report out to me next week. Are there areas in the report that I should be focusing on?

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

  • You should receive a copy of the lease
  • Does the lease prevent you from renting out the flat, or having a home office for business
  • You must be told what counts as a Nuisance in the lease
  • 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 rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide. For details of the information to be included in your report on your leasehold property in Aberdovey please enquire of your conveyancer in advance of your conveyancing in Aberdovey

    • Estate agents have just been given the go-ahead to market my garden flat in Aberdovey.Conveyancing lawyers have not yet been instructed but I have just received a half-yearly maintenance charge invoice – what should I do?

    Your conveyancing lawyer is likely to suggest that you should discharge the invoice 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 unless 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. This will smooth the conveyancing process.

    I've recently bought a leasehold flat in Aberdovey. Do I have any liability for service charges for periods before completion of my purchase?

    Where the service charge has already been demanded from the previous lessee 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. A critical element of leasehold conveyancing for your conveyancer to be sure 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).

    I work for a busy estate agent office in Aberdovey where we have experienced a number of leasehold sales derailed due to leases having less than 80 years remaining. I have received contradictory information from local Aberdovey conveyancing firms. Can you confirm whether the owner of a flat can start the lease extension process for the buyer?

    Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 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 at the same time as 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 purchaser.

    I bought a garden flat in Aberdovey, conveyancing formalities finalised 1997. Can you work out an approximate cost of a lease extension? Similar flats in Aberdovey with an extended lease are worth £256,000. The ground rent is £45 per annum. The lease terminates on 21st October 2100

    With 75 years remaining on your lease we estimate the premium for your lease extension to range between £8,600 and £9,800 as well as professional fees.

    The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.

    Other Topics

    Lease Extensions in Aberdovey