Fixed-fee leasehold conveyancing in Aberystwyth:

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

Frequently asked questions relating to Aberystwyth leasehold conveyancing

My fiance and I may need to rent out our Aberystwyth garden flat temporarily due to taking a sabbatical. We instructed a Aberystwyth conveyancing firm in 2001 but they have since shut and we did not think at the time get any guidance as to whether the lease allows us to sublet. How do we find out?

Even though your previous Aberystwyth conveyancing lawyer is not around you can check your lease to see if you are permitted to let out the property. The rule is that if the lease is non-specific, subletting is allowed. Quite often there is a prerequisite that you are obliged to seek permission from your landlord or other appropriate person before subletting. The net result is you not allowed to sublet in the absence of prior consent. Such consent should not be unreasonably refused ore delayed. If your lease prohibits you from letting out the property you should ask your landlord if they are willing to waive this restriction.

There are only Fifty years remaining on my flat in Aberystwyth. I am keen to get lease extension but my freeholder is missing. What are my options?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. However, you will be required to demonstrate that you or your lawyers have used your best endeavours to locate the freeholder. On the whole an enquiry agent may be useful to conduct investigations and prepare an expert document to be accepted by the court as proof that the freeholder can not be located. It is advisable to get professional help from a conveyancer in relation to investigating the landlord’s absence and the application to the County Court covering Aberystwyth.

I have just appointed agents to market my 2 bed apartment in Aberystwyth.Conveyancing is yet to be initiated but I have just had a half-yearly service charge demand – Do I pay up?

The sensible thing to do is clear 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 management companies 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 am looking at a two flats in Aberystwyth both have about fifty years remaining on the leases. Will this present a problem?

There are plenty of short leases in Aberystwyth. The lease is a legal document that entitles you to use the premises for a period of time. As a lease shortens the marketability of the lease decreases and it becomes more expensive to acquire a lease extension. For this reason it is often a good idea to increase the term of the lease. It is often difficulties arise selling premises with a short lease as mortgage lenders may be reluctant to lend money on such properties. Lease extension can be a protracted process. We recommend you get professional help from a solicitor and surveyor with experience in this field

Can you provide any top tips for leasehold conveyancing in Aberystwyth from the point of view of speeding up the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Aberystwyth can be reduced if you instruct lawyers the minute your agents start advertising the property and ask them to put together the leasehold documentation needed by the buyers representatives.
  • The majority freeholders or Management Companies in Aberystwyth charge for supplying management packs for a leasehold homes. You or your lawyers should discover the fee that they propose to charge. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Aberystwyth.
  • In the event that you altered the property did you need the Landlord’s permission? Have you, for example installed wooden flooring? Most leases in Aberystwyth state that internal structural changes or installing wooden flooring require a licence from the Landlord approving such alterations. Should you dont have the consents to hand do not contact the landlord without contacting your solicitor in the first instance.
  • If there is a history of conflict with your landlord or managing agents it is very important that these are settled prior to the flat being marketed. The purchasers and their solicitors will be concerned about purchasing a property where a dispute is ongoing. You may have to bite the bullet and pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is clearly preferable to reveal the dispute as over as opposed to ongoing.
  • If you have the benefit of shareholding in the freehold, you should ensure that you have the original share certificate. Obtaining a re-issued share certificate can be a time consuming formality and frustrates many a Aberystwyth home move. Where a duplicate share certificate is required, you should approach the company officers or managing agents (where relevant) for this at the earliest opportunity.

    • I acquired a studio flat in Aberystwyth, conveyancing formalities finalised 2011. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Aberystwyth with an extended lease are worth £168,000. The ground rent is £65 levied per year. The lease expires on 21st October 2091

    With only 69 years left to run the likely cost is going to span between £11,400 and £13,200 as well as legals.

    The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Aberystwyth