I've found a house that appears to tick a lot of boxes, at a reasonable price which is making it all the more appealing. I have since discovered that the title is leasehold rather than freehold. I would have thought that there are issues purchasing a leasehold house in Aberystwyth. Conveyancing solicitors have not yet been appointed. Will my lawyers set out the risks of buying a leasehold house in Aberystwyth ?

The majority of houses in Aberystwyth are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in Aberystwyth so you should seriously consider looking for a Aberystwyth conveyancing solicitor and check that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example obtaining the landlord’spermission to carry out changes to the property. You may also be required to pay a service charge towards the maintenance of the communal areas where the house is located on an estate. Your solicitor will appraise you on the various issues.

Back In 2004, I bought a leasehold house in Aberystwyth. Conveyancing and Barclays Direct mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1994. The conveyancing practitioner in Aberystwyth who acted for me is not around.Do I pay?

First make enquiries of the Land Registry to make sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a Aberystwyth conveyancing solicitor 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 legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am tempted by the attractive purchase price for a couple of maisonettes in Aberystwyth which have about 50 years unexpired on the lease term. Will this present a problem?

There are plenty of short leases in Aberystwyth. The lease is a right to use the property for a period of time. As the lease shortens the saleability of the lease decreases and it becomes more costly to extend the lease. For this reason it is generally wise to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this arena

If all goes to plan we aim to complete the sale of our £ 250000 maisonette in Aberystwyth in nine days. The freeholder has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Aberystwyth?

For most leasehold sales in Aberystwyth conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Completing pre-contract questions
• Where consent is required before sale in Aberystwyth
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Aberystwyth leasehold premises is £350. For Aberystwyth conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to supply the information.

What are the frequently found deficiencies that you encounter in leases for Aberystwyth properties?

There is nothing unique about leasehold conveyancing in Aberystwyth. Most leases are individual and drafting errors can result in certain sections are erroneous. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts of the building
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Accord Mortgages Ltd, Coventry Building Society, and Alliance & Leicester all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the purchaser to withdraw.

I invested in buying a 1st floor flat in Aberystwyth, conveyancing formalities finalised in 2008. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Aberystwyth with over 90 years remaining are worth £267,000. The ground rent is £55 charged once a year. The lease expires on 21st October 2085

With just 59 years remaining on your lease the likely cost is going to be between £25,700 and £29,600 as well as plus your own and the landlord's "reasonable" professional fees.

The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.