Experts for Leasehold Conveyancing in Bargoed

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

Recently asked questions relating to Bargoed leasehold conveyancing

I’m about to sell my ground floor apartment in Bargoed.Conveyancing has not commenced but I have just had a half-yearly service charge invoice – Do I pay up?

The sensible thing to do is discharge 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 own a leasehold flat in Bargoed. Conveyancing and Nottingham Building Society mortgage organised. I have received a letter from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1993. The conveyancing solicitor in Bargoed who previously acted has now retired.Do I pay?

The first thing you should do is contact the Land Registry to be sure that this person is in fact the new freeholder. There is no need to instruct a Bargoed conveyancing lawyer to do this as you can do this on the Land Registry website 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've recently bought a leasehold property in Bargoed. Do I have any liability for service charges for periods before completion of my purchase?

In a situation 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. Strange as it may seem, 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).

Do you have any advice for leasehold conveyancing in Bargoed with the intention of speeding up the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Bargoed can be avoided if you instruct lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold documentation needed by the purchasers’ conveyancers.
  • Many landlords or managing agents in Bargoed charge for providing management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Bargoed.
  • In the event that you altered the property did you need the Landlord’s consent? In particular have you laid down wooden flooring? Bargoed leases often stipulate that internal structural alterations or laying down wooden flooring require a licence from the Landlord consenting to such works. Should you dont have the paperwork to hand do not communicate with the landlord without contacting your lawyer before hand.
  • Some Bargoed leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers obtain bank and professional references. Any bank reference should make it clear that the buyer is financially capable of paying 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 the benefit of shareholding in the freehold, you should ensure that you have the original share certificate. Organising a new share certificate can be a lengthy process and delays many a Bargoed home move. If a duplicate share is required, do contact the company officers or managing agents (where relevant) for this sooner rather than later.

  • Are there common deficiencies that you see in leases for Bargoed properties?

    Leasehold conveyancing in Bargoed is not unique. All leases are unique and drafting errors can result in certain provisions are erroneous. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain elements of the premises
    • Insurance obligations
    • 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 will encounter 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. Lloyds TSB Bank, Leeds Building Society, and Alliance & Leicester 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, obliging the purchaser to withdraw.

    Bargoed Conveyancing for Leasehold Flats - Examples of Questions you should consider Prior to buying

      Is the freehold owned collectively by the tenants? The best form of lease arrangement is where the freehold interest is in the ownership of the leaseholders. In this situation the leaseholders enjoy control and although a managing agent is frequently retained where the building is larger than a house conversion, the managing agent employed by the leaseholders. For many Bargoed leaseholds the outlay for major works tend not to be included within maintenance charges, albeit that a few managing agents in Bargoed require leasehold owners to contribute towards a sinking fund created for the specific intention of establishing a fund for larger works.

    Other Topics

    Lease Extensions in Bargoed