I am hoping to sign contracts shortly on a leasehold property in Bethesda. Conveyancing lawyers assured me that they will have a report out to me within the next couple of days. What should I be looking out for?

The report on title for your leasehold conveyancing in Bethesda should include some of the following:

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

I have just started marketing my basement apartment in Bethesda.Conveyancing is yet to be initiated but I have just had a yearly maintenance charge demand – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should clear the service charge 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 unless 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 appears to be perfect, at a reasonable price which is making it more attractive. I have just discovered that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a leasehold house in Bethesda. Conveyancing lawyers have are about to be appointed. Will they explain the issues?

Most houses in Bethesda are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. it is apparent that you are purchasing in Bethesda in which case you should be looking for a Bethesda conveyancing solicitor and check that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’sconsent to carry out 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 part of an estate. Your lawyer will report to you on the legal implications.

Back In 2008, I bought a leasehold flat in Bethesda. Conveyancing and Chelsea Building Society mortgage went though with no issue. I have received a letter from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1996. The conveyancing solicitor in Bethesda who acted for me is not around.What should I do?

First contact HMLR to make sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a Bethesda conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I work for a busy estate agency in Bethesda where we have experienced a few flat sales put at risk due to short leases. I have been given conflicting advice from local Bethesda conveyancing solicitors. Could you clarify whether the owner of a flat can start the lease extension process for the buyer?

As long as 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. This means that the proposed purchaser can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.

An alternative approach is 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 purchaser.

Bethesda Conveyancing for Leasehold Flats - Examples of Questions you should consider Prior to Purchasing

Please note if it is fewer than eighty years it will have adverse implications on the salability of the flat. Check with your bank that they are willing to go ahead with the loan given the lease term. A short lease means that you will probably have to extend the lease at some point and you need to have some idea of how much this will be. For most Bethesdalease extensions you would be be obliged to have owned the residence for a couple of years before you are eligible to exercise a lease extension. What restrictions are there in the Bethesda Lease? Is anyone aware of any major works on the horizon that could increase the maintenance fees?

Other Topics

Lease Extensions in Bethesda