Fixed-fee leasehold conveyancing in Bargoed:

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Common questions relating to Bargoed leasehold conveyancing

Helen (my wife) and I may need to rent out our Bargoed garden flat for a while due to taking a sabbatical. We instructed a Bargoed conveyancing practice in 2004 but they have since shut and we did not think at the time seek any advice as to whether the lease allows us to sublet. How do we find out?

A lease governs the relationship between the landlord and you the leaseholder; specifically, it will set out if subletting is banned, or permitted but only subject to certain conditions. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Bargoed do not contain subletting altogether – such a provision would undoubtedly devalue the flat. In most cases there is simply a requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.

There are only 68 years left on my flat in Bargoed. I now want to extend my lease but my landlord is missing. What are my options?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. You will be obliged to prove that you or your lawyers have done all that could be expected to locate the lessor. In some cases a specialist would be useful to conduct investigations and prepare a report which can be accepted by the court as evidence that the freeholder can not be located. It is wise to seek advice from a property lawyer both on devolving into the landlord’s absence and the vesting order request to the County Court covering Bargoed.

I today plan to offer on a house that appears to meet my requirements, at a great price which is making it all the more appealing. I have since been informed that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a leasehold house in Bargoed. Conveyancing advisers have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Bargoed ?

The majority of houses in Bargoed are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. it is apparent that you are buying in Bargoed in which case you should be looking for a Bargoed conveyancing solicitor and be sure that they are used to advising on leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be entirely free 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 maintenance of the communal areas where the house is located on an estate. Your solicitor should report to you on the legal implications.

What are your top tips when it comes to finding a Bargoed conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a solicitor for your lease extension (regardless if they are a Bargoed conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with two or three firms including non Bargoed conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:

  • How familiar is the practice with lease extension legislation?
  • If the firm is not ALEP accredited then what is the reason?

    • Do you have any advice for leasehold conveyancing in Bargoed from the point of view of saving time on the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Bargoed can be avoided if you instruct lawyers the minute your agents start advertising the property and ask them to collate the leasehold documentation needed by the purchasers’ conveyancers.
    • Many landlords or Management Companies in Bargoed charge for providing management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Bargoed.
  • If you have carried out any alterations to the residence would they have required Landlord’s consent? In particular have you laid down wooden flooring? Most leases in Bargoed state that internal structural alterations or installing wooden flooring calls for a licence from the Landlord acquiescing to such works. Should you dont have the consents to hand you should not communicate with the landlord without contacting your lawyer in the first instance.
  • Some Bargoed leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. The bank reference should make it clear that the buyer is able to meet the yearly 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 actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
  • If you hold a share in a the freehold, you should make sure that you hold the original share document. Obtaining a new share certificate is often a time consuming process and frustrates many a Bargoed conveyancing deal. If a duplicate share is required, you should approach the company officers or managing agents (if applicable) for this at the earliest opportunity.

    • I inherited a split level flat in Bargoed, conveyancing formalities finalised 2000. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Bargoed with a long lease are worth £186,000. The ground rent is £65 charged once a year. The lease runs out on 21st October 2093

    With 68 years unexpired we estimate the price of your lease extension to span between £9,500 and £11,000 plus professional fees.

    The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Bargoed