I only have 72 years unexpired on my flat in Bedwas. I need to extend my lease but my freeholder is can not be found. What should I do?

If you meet the appropriate requirements, 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 lengthened by the magistrate. However, you will be required to demonstrate that you or your lawyers have done all that could be expected to find the freeholder. For most situations an enquiry agent may be helpful to carry out a search and prepare an expert document to be used as proof that the landlord can not be located. It is wise to seek advice from a conveyancer both on proving the landlord’s absence and the vesting order request to the County Court covering Bedwas.

My wife and I purchased a leasehold house in Bedwas. Conveyancing and Chelsea Building Society mortgage are in place. I have received a letter from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1993. The conveyancing solicitor in Bedwas who previously acted has long since retired.Do I pay?

First make enquiries of HMLR to make sure that the individual claiming to own the freehold is indeed the new freeholder. It is not necessary to instruct a Bedwas conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am looking at a two maisonettes in Bedwas which have about 50 years unexpired on the lease term. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold flat in Bedwas is a wasting asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it adversely affects the salability of the property. The majority of buyers and banks, leases with under 75 years become less and less marketable. On a more upbeat 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 a residence 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 Bedwas conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. 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.

Last month I purchased a leasehold house in Bedwas. Do I have any liability for service charges relating to a period prior to completion of my purchase?

Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure 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).

All being well we will complete the disposal of our £400000 apartment in Bedwas next Friday . The management company has quoted £360 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Bedwas?

Bedwas conveyancing on leasehold apartments usually necessitates the purchaser’s lawyer submitting questions for the landlord to answer. Although the landlord is under no legal obligation to address such questions most will be willing to assist. They may invoice a reasonable administration fee for answering questions or supplying documentation. There is no set fee. The average costs for the information that you are referring to is over three hundred pounds, in some situations it is above £800. The administration charge demanded by the landlord must be accompanied by a summary of entitlements and obligations in respect of administration charges, without which the charge is not strictly payable. Reality however dictates that one has no choice but to pay whatever is requested of you if you want to exchange contracts with the buyer.

Leasehold Conveyancing in Bedwas - Examples of Questions you should ask before buying

Does the lease contain onerous restrictions? How much is the ground rent and service charge? The best form of lease structure is if the freehold interest is owned by the leaseholders. In this arrangement the lessees enjoy being in charge if their destiny and notwithstanding that a managing agent is often retained where the building is larger than a house conversion, the managing agent is directed by the tenants.

Other Topics

Lease Extensions in Bedwas