Fixed-fee leasehold conveyancing in Blackwood:

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Common questions relating to Blackwood leasehold conveyancing

I have recently realised that I have Sixty One years unexpired on my flat in Blackwood. I now want to extend my lease but my landlord is absent. What should I do?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order 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 demonstrate that you or your lawyers have used your best endeavours to find the lessor. In some cases an enquiry agent should be helpful to conduct investigations and prepare an expert document to be accepted by the court as proof that the landlord can not be located. It is wise to seek advice from a solicitor in relation to proving the landlord’s disappearance and the application to the County Court overseeing Blackwood.

Expecting to exchange soon on a studio apartment in Blackwood. Conveyancing solicitors assured me that they are sending me a report next week. What should I be looking out for?

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

  • You should receive a copy of the lease
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • The total extent of the demise. This will be the property itself but may incorporate a roof space or cellar if applicable.
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • Repair and maintenance of the flat
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be included in your report on your leasehold property in Blackwood please enquire of your lawyer in advance of your conveyancing in Blackwood

    • I today plan to offer on a house that appears to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have just found out that it's a leasehold as opposed to freehold. I would have thought that there are issues purchasing a leasehold house in Blackwood. Conveyancing lawyers have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Blackwood ?

    The majority of houses in Blackwood are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. It is clear that you are buying in Blackwood so you should seriously consider looking for a Blackwood conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as requiring the landlord’sconsent to carry out alterations. It may be necessary to pay a maintenance charge towards the upkeep of the communal areas where the property is part of an estate. Your conveyancer should appraise you on the various issues.

    I am looking at a couple of maisonettes in Blackwood which have in the region of fifty years remaining on the leases. Will this present a problem?

    There is no doubt about it. A leasehold flat in Blackwood 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 value of the property. The majority of buyers and mortgage companies, leases with under eighty 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 property 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 Blackwood 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.

    Do you have any top tips for leasehold conveyancing in Blackwood from the perspective of speeding up the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Blackwood can be bypassed where you instruct lawyers as soon as you market your property and request that they start to put together the leasehold documentation which will be required by the buyers representatives.
    • The majority freeholders or managing agents in Blackwood levy fees for supplying management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most common reason for delay in leasehold conveyancing in Blackwood.
  • If you have carried out any alterations to the residence would they have required Landlord’s approval? Have you, for example installed wooden flooring? Blackwood leases often stipulate that internal structural alterations or laying down wooden flooring necessitate a licence issued by the Landlord consenting to such changes. If you fail to have the paperwork in place you should not communicate with the landlord without checking with your lawyer before hand.
  • If you have had conflict with your freeholder or managing agents it is essential that these are resolved before the property is marketed. The buyers and their solicitors will be reluctant to purchase a flat where a dispute is unresolved. You may have to bite the bullet and discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as historic rather than ongoing.
  • If you hold a share in a the Management Company, you should make sure that you are holding the original share certificate. Arranging a replacement share certificate is often a time consuming formality and frustrates many a Blackwood conveyancing deal. If a reissued share is required, you should approach the company officers or managing agents (where applicable) for this at the earliest opportunity.

    • I purchased a 2 bed flat in Blackwood, conveyancing formalities finalised 9 years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar properties in Blackwood with an extended lease are worth £210,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease terminates on 21st October 2095

    You have 71 years unexpired the likely cost is going to range between £8,600 and £9,800 as well as legals.

    The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Blackwood