Experts for Leasehold Conveyancing in Aberystwyth

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Examples of recent questions relating to leasehold conveyancing in Aberystwyth

I am in need of some leasehold conveyancing in Aberystwyth. Before diving in I require certainty as to the number of years remaining on the lease.

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

Due to sign contracts shortly on a studio apartment in Aberystwyth. Conveyancing solicitors inform me that they will have a report out to me on Monday. What should I be looking out for?

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

  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
  • The physical extent of the property. This will be the property itself but might include a roof space or basement if applicable.
  • Are you allowed to have a pet in the flat?
  • Changes to the flat (alterations and additions)
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • What the implications are if you breach a clause of your lease? For details of the information to be contained in your report on your leasehold property in Aberystwyth please enquire of your solicitor in ahead of your conveyancing in Aberystwyth

    • I have just appointed agents to market my garden apartment in Aberystwyth.Conveyancing has not commenced but I have just had a yearly maintenance charge invoice – what should I do?

    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've recently bought a leasehold property in Aberystwyth. Am I liable to pay 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 ensure 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 am employed by a reputable estate agent office in Aberystwyth where we have witnessed a number of flat sales jeopardised due to short leases. I have received contradictory information from local Aberystwyth conveyancing firms. Can you clarify whether the owner of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?

    As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser 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 has to be done before, or at the same time as completion of the disposal of the property.

    Alternatively, it may be possible 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.

    Aberystwyth Conveyancing for Leasehold Flats - Sample of Queries before buying

      Most Aberystwyth leasehold apartments will be liable to pay a service bill for the upkeep of the block levied by the freeholder. If you purchase the flat you will have to pay this contribution, usually in instalments during the year. This could vary from two or three hundred pounds to thousands of pounds for buildings with lifts and large common grounds. In all likelihood there will be a rentcharge for you to pay yearly, this is usually not a significant amount, say about £25-£75 but you need to enquire it because on occasion it can be surprisingly expensive. This question is helpful as a) areas could cause problems in the block as the communal areas may begin to deteriorate if repairs remain unpaid b) if the leaseholders have a dispute with the running of the building you will want to have all the details Please inform me if there are any major works on the horizon that will likely increase the service charges?

    Other Topics

    Lease Extensions in Aberystwyth