Experts for Leasehold Conveyancing in Bargoed

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Common questions relating to Bargoed leasehold conveyancing

I have just started marketing my 2 bed apartment in Bargoed.Conveyancing is yet to be initiated but I have just had a half-yearly maintenance charge invoice – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should 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 managing agents will not acknowledge the buyer until 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. Having a clear account will assist your cause and will leave you no worse off financially.

I've found a house that seems to be perfect, at a reasonable figure which is making it more attractive. I have just found out that the title is leasehold rather than freehold. I am assuming that there are particular concerns purchasing a leasehold house in Bargoed. Conveyancing advisers have are about to be instructed. Will they explain the issues?

Most houses in Bargoed are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. We note that you are buying in Bargoed in which case you should be looking for a Bargoed conveyancing solicitor 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 at liberty to do whatever you want to the property. The lease comes with conditions such as obtaining the freeholder’sconsent to conduct changes to the property. You may also be required to pay a service charge towards the upkeep of the estate where the property is located on an estate. Your conveyancer should report to you on the legal implications.

Back In 2008, I bought a leasehold flat in Bargoed. Conveyancing and Aldermore mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1996. The conveyancing solicitor in Bargoed who previously acted has now retired.Do I pay?

First make enquiries of HMLR to make sure that this person is indeed the new freeholder. You do not need to incur the fees of a Bargoed conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

Can you provide any advice for leasehold conveyancing in Bargoed from the point of view of speeding up the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Bargoed can be bypassed if you appoint lawyers as soon as your agents start marketing the property and request that they start to put together the leasehold documentation needed by the buyers conveyancers.
  • Many landlords or managing agents in Bargoed levy fees for providing management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management information sought as soon as you have a buyer, thus accelerating the process. 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 permission? In particular have you installed wooden flooring? Most leases in Bargoed state that internal structural changes or installing wooden flooring necessitate a licence issued by the Landlord approving such works. If you dont have the paperwork in place do not communicate with the landlord without checking with your lawyer in advance.
  • Some Bargoed leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. The bank reference will need to confirm that the buyers are 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 lawyers.
  • If you are supposed to have a share in the freehold, you should ensure that you have the original share certificate. Arranging a duplicate share certificate is often a time consuming formality and frustrates many a Bargoed conveyancing transaction. If a duplicate share is required, do contact the company director and secretary or managing agents (if applicable) for this at the earliest opportunity.

  • If all goes to plan we aim to complete the disposal of our £200000 apartment in Bargoed on Monday in a week. The freeholder has quoted £408 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Bargoed?

    Bargoed conveyancing on leasehold maisonettes typically necessitates administration charges levied by management companies :

    • Addressing pre-contract enquiries
    • Where consent is required before sale in Bargoed
    • Supplying insurance information
    • Deeds of covenant upon sale
    • Registering of the assignment of the change of lessee after a sale
    Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Bargoed leasehold property is £350. For Bargoed 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 provide answers.

    I inherited a 1 bedroom flat in Bargoed, conveyancing was carried out half a dozen years ago. How much will my lease extension cost? Similar flats in Bargoed with an extended lease are worth £213,000. The ground rent is £65 yearly. The lease comes to an end on 21st October 2075

    With 53 years unexpired the likely cost is going to span between £31,400 and £36,200 plus professional fees.

    The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.

    Other Topics

    Lease Extensions in Bargoed