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

When it comes to leasehold conveyancing in Aberystwyth, you will need to appoint a conveyancing lawyer with leasehold experience. Whether your lender is to be Santander, Birmingham Midshires or Bradford & Bingley make sure you find a lawyer on their panel. Find a Aberystwyth conveyancing lawyer with our search tool

Aberystwyth leasehold conveyancing: Q and A’s

Having had my offer accepted I require leasehold conveyancing in Aberystwyth. Before I set the wheels in motion I require certainty as to the number of years remaining on the lease.

If the lease is registered - and almost all are in Aberystwyth - 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.

I only have 62 years left on my lease in Aberystwyth. I now want to extend my lease but my freeholder is can not be found. What should I do?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. However, you will be required to prove that you have made all reasonable attempts to locate the landlord. For most situations a specialist may be useful to conduct investigations and to produce an expert document which can be accepted by the court as evidence that the freeholder is indeed missing. It is advisable to get professional help from a conveyancer in relation to devolving into the landlord’s absence and the application to the County Court covering Aberystwyth.

Back In 2001, I bought a leasehold flat in Aberystwyth. Conveyancing and TSB mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1991. The conveyancing solicitor in Aberystwyth who acted for me is not around.Any advice?

First make enquiries of HMLR to be sure that this person is indeed the registered owner of the freehold reversion. There is no need to incur the fees of a Aberystwyth conveyancing practitioner to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

What are your top tips when it comes to choosing a Aberystwyth conveyancing practice to deal with our lease extension?

If you are instructing a solicitor for lease extension works (regardless if they are a Aberystwyth conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you speak with several firms including non Aberystwyth conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be useful:

  • If they are not ALEP accredited then why not?
  • What are the legal fees for lease extension work?

  • What are the common problems that you see in leases for Aberystwyth properties?

    Leasehold conveyancing in Aberystwyth is not unique. Most leases are unique and drafting errors can result in certain sections are not included. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain parts of the premises
    • A duty to insure the building
    • 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

    You could have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Santander, Virgin Money, and Platform Home Loans Ltd all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, forcing the buyer to withdraw.

    Leasehold Conveyancing in Aberystwyth - A selection of Queries before buying

      How much is the maintenance charge and ground rent on the apartment? You should want to find out as much as possible regarding the company managing the building as they will affect your use and enjoyment of the property. As the owner of a leasehold property you are often at the mercy of the managing agents from a financial perspective and when it comes to practical issues such as the upkeep of the common parts. Don't be shy to ask other tenants if they are happy with them. On a final note, investigate as to the dates that the maintenance fees are due to the relevant party and precisely what it includes. If a Aberystwyth lease has no more than 80 years it will affect the value of the flat. It is worth checking with your bank that they are willing to to proceed given the lease term. Leases with fewer than 80 years remaining means that you will probably have to extend the lease sooner rather than later and it is worth discovering what this would cost. Remember, in most cases you would need to own the property for 24 months before you are eligible to extend the lease.

    Other Topics

    Lease Extensions in Aberystwyth