I am in need of some leasehold conveyancing in Abergele. Before I get started I would like to find out the unexpired term of the lease.

If the lease is registered - and 99.9% are in Abergele - then the leasehold title will always include the short particulars 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 intending to sublet my leasehold apartment in Abergele. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

A lease dictates relations between the freeholder and you the leaseholder; specifically, it will indicate if subletting is banned, or permitted but only subject to certain caveats. The rule is that if the lease contains no specific ban or restriction, subletting is allowed. The majority of leases in Abergele do not prevent an absolute prevention of subletting – such a clause would adversely affect the market value the flat. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly supplying a duplicate of the sublease.

I am employed by a busy estate agent office in Abergele where we see a number of flat sales derailed as a result of leases having less than 80 years remaining. I have received conflicting advice from local Abergele conveyancing firms. Could you confirm whether the owner of a flat can commence the lease extension formalities for the buyer?

As long as the seller has been the owner 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. 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 needs to be completed prior to, or at the same time as completion of the disposal of the property.

Alternatively, it may be possible 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.

Can you offer any advice when it comes to finding a Abergele conveyancing firm to deal with our lease extension?

If you are instructing a property lawyer for lease extension works (regardless if they are a Abergele conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you talk with several firms including non Abergele conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be of use:

• What volume of lease extensions has the firm conducted in Abergele in the last year?

We expect to complete the sale of our £425000 maisonette in Abergele on Tuesday in a week. The freeholder has quoted £336 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Abergele?

Abergele conveyancing on leasehold maisonettes usually necessitates the buyer’s solicitor sending enquiries for the landlord to answer. Although the landlord is not legally bound to address these enquiries most will be willing to assist. They may levy a reasonable administration fee for answering questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some transactions it exceeds £800. The management information fee demanded by the landlord must be sent together with a summary of rights and obligations in respect of administration fees, otherwise the charge is technically not due. In reality one has little option but to pay whatever is requested of you should you wish to sell the property.

I bought a garden flat in Abergele, conveyancing formalities finalised 4 years ago. How much will my lease extension cost? Comparable flats in Abergele with a long lease are worth £250,000. The ground rent is £55 levied per year. The lease finishes on 21st October 2104

With 80 years left to run we estimate the premium for your lease extension to span between £13,300 and £15,400 as well as legals.

The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.

Other Topics

Lease Extensions in Abergele