I am on look out for some leasehold conveyancing in Caernarfon. Before I set the wheels in motion I want to be sure as to the remaining lease term.

If the lease is recorded at the land registry - and most are in Caernarfon - 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.

I am intending to rent out my leasehold flat in Caernarfon. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?

Your lease dictates the relationship between the freeholder and you the leaseholder; in particular, it will indicate if subletting is banned, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is permitted. Most leases in Caernarfon do not prevent strict prohibition on subletting – such a clause would undoubtedly devalue the property. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a duplicate of the sublease.

Having checked my lease I have discovered that there are only Sixty One years left on my flat in Caernarfon. I now wish to get lease extension but my freeholder is missing. What are my options?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. You will be obliged to demonstrate that you have used your best endeavours to track down the landlord. On the whole an enquiry agent would be helpful to try and locate and prepare a report which can be used as evidence that the freeholder is indeed missing. It is advisable to get professional help from a solicitor in relation to investigating the landlord’s disappearance and the vesting order request to the County Court overseeing Caernarfon.

I today plan to offer on a house that seems to meet my requirements, at a reasonable figure which is making it all the more appealing. I have since been informed that the title is leasehold rather than freehold. I would have thought that there are particular concerns buying a leasehold house in Caernarfon. Conveyancing advisers have are soon to be instructed. Will they explain the issues?

Most houses in Caernarfon are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Caernarfon in which case you should be looking for a Caernarfon conveyancing solicitor and be sure that they are used to transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example requiring the landlord’spermission to carry out changes to the property. It may be necessary to pay a contribution towards the upkeep of the estate where the house is located on an estate. Your solicitor should advise you fully on all the issues.

In relation to leasehold conveyancing in Caernarfon what are the most frequent lease defects?

Leasehold conveyancing in Caernarfon is not unique. All leases is drafted differently and drafting errors can sometimes mean that certain clauses are missing. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain elements of the premises
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Leeds Building Society, and Britannia all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, obliging the buyer to withdraw.

I invested in buying a split level flat in Caernarfon, conveyancing formalities finalised 8 years ago. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Caernarfon with a long lease are worth £197,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease comes to an end on 21st October 2094

You have 68 years remaining on your lease the likely cost is going to range between £10,500 and £12,000 as well as professional fees.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of detailed investigations. Do not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.

Other Topics

Lease Extensions in Caernarfon