Having had my offer accepted I require leasehold conveyancing in Bargoed. Before I get started I want to be sure as to the unexpired term of the lease.

If the lease is recorded at the land registry - and almost all are in Bargoed - 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.

Having checked my lease I have discovered that there are only Fifty years remaining on my lease in Bargoed. I need to get lease extension but my landlord is can not be found. What options are available to me?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. However, you will be required to prove that you or your lawyers have used your best endeavours to find the landlord. On the whole an enquiry agent should be useful to conduct investigations and prepare a report to be used as evidence that the landlord can not be located. It is advisable to get professional help from a conveyancer both on investigating the landlord’s absence and the application to the County Court overseeing Bargoed.

I today plan to offer on a house that seems to tick a lot of boxes, at a reasonable figure which is making it more attractive. I have just found out that the title is leasehold as opposed to freehold. I am assuming that there are issues purchasing a leasehold house in Bargoed. Conveyancing advisers have are soon to be appointed. Will they explain the issues?

Most houses in Bargoed 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. We note that you are buying in Bargoed in which case you should be looking for a Bargoed conveyancing practitioner and check that they have experience in dealing with leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as requiring the landlord’spermission to carry out changes to the property. You may also be required to pay a service charge towards the upkeep of the communal areas where the property is part of an estate. Your lawyer should report to you on the legal implications.

I own a leasehold flat in Bargoed. Conveyancing and The Royal Bank of Scotland mortgage went though with no issue. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1994. The conveyancing solicitor in Bargoed who acted for me is not around.Do I pay?

The first thing you should do is make enquiries of the Land Registry to be sure that this person is in fact the new freeholder. It is not necessary to instruct a Bargoed conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am attracted to a couple of apartments in Bargoed which have about fifty years unexpired on the leases. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold flat in Bargoed is a wasting asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it adversely affects the value of the premises. For most buyers and lenders, leases with under 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Bargoed conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Bargoed Leasehold Conveyancing - Examples of Queries before buying

Does this lease have in excess of 90 years remaining? On the whole the cost for major works tend not to be included within service charges, although some managing agents in Bargoed ask tenants to pay into a reserve fund created for the specific intention of building a fund for larger works. You should be aware that where the lease has less than 80 years it will impact the salability of the property. Check with your lender that they are content with the length of the lease. Leases with fewer than 80 years remaining means that you will probably have to extend the lease at some point and you need to have some idea of how much this will be. Remember, in most cases you will be be obliged to have owned the residence for 24 months in order to be eligible to extend the lease.

Other Topics

Lease Extensions in Bargoed