I am in need of some leasehold conveyancing in Barmouth. Before I set the wheels in motion I want to be sure as to the number of years remaining on the lease.

Assuming the lease is recorded at the land registry - and most are in Barmouth - then the leasehold title will always include the short particulars 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.

Due to exchange soon on a leasehold property in Barmouth. Conveyancing lawyers have said that they report fully next week. What should I be looking out for?

Your report on title for your leasehold conveyancing in Barmouth should include some of the following:

• How long the lease is You should be advised as what happens when the lease ends, and aware of the importance of the 80 year mark

Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder

The physical extent of the demise. This will be the flat itself but may include a loft or cellar if appropriate.

Does the lease require carpeting throughout thus preventing wood flooring?

Does the lease prevent you from renting out the property, or working from home

You must be told what constitutes a Nuisance in the lease

Responsibility for repairing the window frames For details of the information to be included in your report on your leasehold property in Barmouth please ask your conveyancer in ahead of your conveyancing in Barmouth

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

There are plenty of short leases in Barmouth. The lease is a legal document that entitles you to use the property for a period of time. As a lease gets shorter the value of the lease decreases and results in it becoming more expensive to acquire a lease extension. This is why it is advisable to increase the term of the lease. It is often difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a protracted process. We advise that you get professional help from a conveyancer and surveyor with experience in this area

Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £350000 garden flat in Barmouth in just under a week. The management company has quoted £312 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Barmouth?

Barmouth conveyancing on leasehold flats usually involves administration charges raised by freeholders :

• Addressing conveyancing due diligence enquiries
• Where consent is required before sale in Barmouth
• 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 Barmouth leasehold premises is £350. For Barmouth 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 the information.

When it comes to leasehold conveyancing in Barmouth what are the most frequent lease problems?

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

• Repairing obligations to or maintain parts of the premises
• A duty to insure the building
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

You could have difficulties 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 Britannia all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, forcing the purchaser to withdraw.

I am the registered owner of a 1 bedroom flat in Barmouth, conveyancing was carried out 2002. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable properties in Barmouth with an extended lease are worth £239,000. The ground rent is £60 invoiced every year. The lease ceases on 21st October 2096

You have 71 years remaining on your lease the likely cost is going to span between £11,400 and £13,200 plus professional fees.

The figure above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.

Other Topics

Lease Extensions in Barmouth