Fixed-fee leasehold conveyancing in Bedwas:

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Recently asked questions relating to Bedwas leasehold conveyancing

I've found a house that seems to tick a lot of boxes, at a great price which is making it all the more appealing. I have subsequently found out that it's a leasehold rather than freehold. I am assuming that there are issues purchasing a house with a leasehold title in Bedwas. Conveyancing advisers have are soon to be instructed. Will they explain the issues?

Most houses in Bedwas are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are purchasing in Bedwas in which case you should be looking for a Bedwas conveyancing practitioner and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example obtaining the freeholder’sconsent to conduct changes to the property. It may be necessary to pay a service charge towards the upkeep of the estate where the house is part of an estate. Your conveyancer should advise you fully on all the issues.

I am employed by a long established estate agency in Bedwas where we have experienced a few flat sales put at risk due to short leases. I have been given inconsistent advice from local Bedwas conveyancing firms. Can you clarify whether the vendor of a flat can commence the lease extension process for the buyer?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

What are your top tips when it comes to finding a Bedwas conveyancing practice to deal with our lease extension?

When appointing a solicitor for your lease extension (regardless if they are a Bedwas conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We recommend that you talk with several firms including non Bedwas conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be of use:

  • How experienced is the practice with lease extension legislation?
  • What are the costs for lease extension work?

  • If all goes to plan we aim to complete the disposal of our £325000 flat in Bedwas 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 flat conveyance in Bedwas?

    Bedwas conveyancing on leasehold flats usually results in fees being raised by freeholders :

    • Answering pre-contract questions
    • Where consent is required before sale in Bedwas
    • Copies of the building insurance and schedule
    • Deeds of covenant upon sale
    • Registering of the assignment of the change of lessee after a sale
    Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Bedwas leasehold premises is £350. For Bedwas 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 obliged to provide the information.

    Are there common deficiencies that you come across in leases for Bedwas properties?

    Leasehold conveyancing in Bedwas is not unique. Most leases are unique and legal mistakes in the legal wording can result in certain provisions are not included. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain elements of the building
    • Insurance obligations
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Service charge per centages that don't add up correctly leaving a shortfall

    A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, Leeds Building Society, and Nottingham Building Society all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, obliging the purchaser to withdraw.

    Leasehold Conveyancing in Bedwas - A selection of Queries before buying

      In the main the cost for major works tend not to be incorporated into the service charges, albeit that there some managing agents in Bedwas require leasehold owners to pay into a sinking fund created for the specific intention of establishing a fund for major works. How much is the yearly maintenance fee and ground rent? Does the lease contain onerous restrictions?

    Other Topics

    Lease Extensions in Bedwas