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Any conveyancing solicitor can theoretically handle your leasehold conveyancing in Abergele, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Sample questions relating to Abergele leasehold conveyancing

I've found a house that seems to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have just discovered that it's a leasehold rather than freehold. I would have thought that there are issues buying a leasehold house in Abergele. Conveyancing lawyers have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Abergele ?

Most houses in Abergele 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 Abergele in which case you should be looking for a Abergele conveyancing solicitor and check 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 obtaining the freeholder’spermission to conduct changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the estate where the house is part of an estate. Your conveyancer should advise you fully on all the issues.

I own a leasehold house in Abergele. Conveyancing and Bank of Ireland mortgage organised. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1994. The conveyancing practitioner in Abergele who acted for me is not around.Do I pay?

The first thing you should do is contact the Land Registry to make sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. There is no need to instruct a Abergele conveyancing solicitor to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am attracted to a two maisonettes in Abergele both have about forty five years unexpired on the leases. Do I need to be concerned?

A lease is a right to use the property for a period of time. As the lease shortens the saleability of the lease deteriorate and results in it becoming more expensive to acquire a lease extension. For this reason it is often a good idea to extend the lease term. It is often difficult to sell a property with a short lease because mortgage companies may be unwilling to lend money on such properties. Lease enfranchisement can be a difficult process. We recommend you get professional help from a conveyancer and surveyor with experience in this area

I am a negotiator for a long established estate agent office in Abergele where we see a few leasehold sales derailed as a result of short leases. I have been given conflicting advice from local Abergele conveyancing firms. Can you shed some light as to whether the vendor of a flat can commence the lease extension process for the purchaser on completion of the sale?

Provided that 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. The benefit of this is that the buyer need not have 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 sale.

An alternative approach is 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 buyer.

Can you provide any top tips for leasehold conveyancing in Abergele with the purpose of saving time on the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Abergele can be reduced where you instruct lawyers as soon as your agents start marketing the property and ask them to put together the leasehold documentation needed by the purchasers’ conveyancers.
  • In the event that you altered the property did you need the Landlord’s permission? Have you, for example laid down wooden flooring? Most leases in Abergele state that internal structural changes or addition of wooden flooring necessitate a licence issued by the Landlord approving such alterations. Should you fail to have the consents in place do not contact the landlord without checking with your solicitor first.
  • Some Abergele leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain bank and professional references. Any bank reference will need to confirm that the buyers are able to meet 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 purchasers or their solicitors.
  • If you have had conflict with your freeholder or managing agents it is very important that these are settled prior to the flat being put on the market. The purchasers and their solicitors will be reluctant to purchase a property where there is a current 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 purchasers, but it is better to present the dispute as over rather than ongoing.
  • You believe that you know the number of years remaining on your lease but it would be advisable verify this via your solicitors. A purchaser's lawyer will not be happy to advise their client to where the lease term is less than 75 years. It is therefore essential at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • Leasehold Conveyancing in Abergele - Examples of Queries before Purchasing

      Is there a share of the freehold? Please note that where the lease has no more than 80 years it will impact the marketability of the apartment. It is worth checking with your lender that they are willing to go ahead with the loan given the lease term. Leases with fewer than 80 years remaining means that you will most likely have to extend the lease at some point and you need to have some idea of how much this will be. Remember, in most cases you will need to own the residence for a couple of years before you are eligible to extend the lease. Most Abergele leasehold flats will have a service charge for maintenance of the building invoiced on behalf of the freeholder. If you purchase the property you will have to pay this liability, usually in instalments during the year. This can vary from several hundred pounds to thousands of pounds for buildings with lifts and large communal areas. There will also be a rentcharge for you to pay annual, ordinarily this is not a exorbitant figure, say about £25-£75 but you should to check as on occasion it can be many hundreds of pounds.

    Other Topics

    Lease Extensions in Abergele