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

On the basis that 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 granted an extra 90 years by the magistrate. You will be obliged to prove that you or your lawyers have made all reasonable attempts to find the lessor. For most situations an enquiry agent may be useful to try and locate and to produce an expert document which can be used as proof that the freeholder is indeed missing. It is advisable to get professional help from a solicitor both on proving the landlord’s disappearance and the application to the County Court covering Cardiff Bay.

I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a great price which is making it all the more appealing. I have since been informed that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Cardiff Bay. Conveyancing solicitors have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Cardiff Bay ?

The majority of houses in Cardiff Bay are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. We note that you are buying in Cardiff Bay so you should seriously consider shopping around for a Cardiff Bay conveyancing solicitor and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as requiring the landlord’sconsent to conduct changes to the property. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the property is located on an estate. Your conveyancer will advise you fully on all the issues.

I am employed by a busy estate agency in Cardiff Bay where we see a number of leasehold sales derailed due to leases having less than 80 years remaining. I have been given contradictory information from local Cardiff Bay conveyancing firms. Could you shed some light as to whether the seller of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having 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 prior to, or at the same time as completion of the sale.

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.

Can you provide any top tips for leasehold conveyancing in Cardiff Bay from the perspective of saving time on the sale process?

• Much of the delay in leasehold conveyancing in Cardiff Bay can be bypassed if you appoint lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold information which will be required by the buyers solicitors.
• Many freeholders or managing agents in Cardiff Bay charge for supplying management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management information sought on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Cardiff Bay.

All being well we will complete the disposal of our £250000 maisonette in Cardiff Bay in six days. The landlords agents has quoted £420 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Cardiff Bay?

Cardiff Bay conveyancing on leasehold flats often necessitates the purchaser’s conveyancer submitting questions for the landlord to address. Although the landlord is under no legal obligation to address these enquiries the majority will be content to do so. They are at liberty levy a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is £350, in some transactions it is above £800. The administration charge demanded by the landlord must be accompanied by a synopsis of entitlements and obligations in relation to administration charges, otherwise the charge is technically not due. In reality you have little option but to pay whatever is requested of you should you wish to exchange contracts with the buyer.

I acquired a 2 bed flat in Cardiff Bay, conveyancing was carried out half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Cardiff Bay with over 90 years remaining are worth £193,000. The average or mid-range amount of ground rent is £50 per annum. The lease ends on 21st October 2087

With only 63 years unexpired the likely cost is going to span between £17,100 and £19,800 as well as professional fees.

The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.

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Lease Extensions in Cardiff Bay