I am hoping to sign contracts shortly on a basement flat in Cardiff Bay. Conveyancing solicitors have said that they will have a report out to me on Monday. Are there areas in the report that I should be focusing on?

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

• You should receive a copy of the lease

I own a leasehold house in Cardiff Bay. Conveyancing and TSB mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1996. The conveyancing solicitor in Cardiff Bay who previously acted has now retired.Do I pay?

First contact the Land Registry to be sure that this person is in fact the new freeholder. You do not need to instruct a Cardiff Bay conveyancing lawyer to do this as it can be done on-line for a few pound. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

Can you offer any advice when it comes to appointing a Cardiff Bay conveyancing firm to deal with our lease extension?

If you are instructing a conveyancer for your lease extension (regardless if they are a Cardiff Bay conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We recommend that you talk with two or three firms including non Cardiff Bay conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be helpful:

• What volume of lease extensions has the firm carried out in Cardiff Bay in the last twenty four months?

If all goes to plan we aim to complete the sale of our £400000 maisonette in Cardiff Bay in just under a week. The management company has quoted £336 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Cardiff Bay?

Cardiff Bay conveyancing on leasehold maisonettes more often than not involves the purchaser’s solicitor submitting enquiries for the landlord to address. Although the landlord is not legally bound to address such questions the majority will be willing to assist. They are entitled levy a reasonable administration fee for answering enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is £350, in some transactions it exceeds £800. The administration charge invoiced by the landlord must be sent together with a synopsis of entitlements and obligations in relation to administration charges, otherwise the invoice is not strictly payable. Reality however dictates that you have no choice but to pay whatever is demanded if you want to exchange contracts with the buyer.

Are there frequently found problems that you witness in leases for Cardiff Bay properties?

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

• Repairing obligations to or maintain parts of the premises
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

You may encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, Chelsea Building Society, and Britannia all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, obliging the purchaser to withdraw.

Cardiff Bay Leasehold Conveyancing - A selection of Queries Prior to buying

Are there any major works in the near future that will add a premium to the maintenance fees? Who are the managing agents? Most Cardiff Bay leasehold properties will be liable to pay a service bill for the upkeep of the building levied by the landlord. Where you buy the apartment you will have to meet this charge, usually in instalments accross the year. This could be anything from two or three hundred pounds to thousands of pounds for bigger purpose-built blocks. There will also be a ground rent for you to pay yearly, this is usually not a large figure, say around £50-£100 but you need to check as on occasion it could be many hundreds of pounds.

Other Topics

Lease Extensions in Cardiff Bay