I am intending to rent out my leasehold apartment in Cardiff Bay. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?

Your lease dictates the relationship between the freeholder and you the leaseholder; in particular, it will set out if subletting is prohibited, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no specific ban or restriction, subletting is permitted. Most leases in Cardiff Bay do not contain an absolute prevention of subletting – such a clause would undoubtedly devalue the flat. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.

I have just started marketing my ground floor flat in Cardiff Bay.Conveyancing has not commenced but I have just had a quarterly maintenance charge demand – should I leave it to the buyer to sort out?

The sensible thing to do is discharge the invoice 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 until 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. This will smooth the conveyancing process.

My wife and I purchased a leasehold house in Cardiff Bay. Conveyancing and Halifax mortgage went though with no issue. A letter has just been received from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1997. The conveyancing solicitor in Cardiff Bay who acted for me is not around.Any advice?

First contact the Land Registry to make sure that the individual purporting to own the freehold is in fact the new freeholder. There is no need to instruct a Cardiff Bay conveyancing lawyer to do this as you can do this on the Land Registry website for £3. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am tempted by the attractive purchase price for a couple of maisonettes in Cardiff Bay both have approximately 50 years remaining on the leases. should I be concerned?

There is no doubt about it. A leasehold flat in Cardiff Bay is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it adversely affects the salability of the property. For most purchasers and mortgage companies, leases with less than 75 years become less and less marketable. On a more positive 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 Cardiff Bay 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.

What advice can you give us when it comes to appointing a Cardiff Bay conveyancing practice to deal with our lease extension?

When appointing a solicitor for your lease extension (regardless if they are a Cardiff Bay conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with several firms including non Cardiff Bay conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be of use:

• How familiar is the practice with lease extension legislation?

Cardiff Bay Conveyancing for Leasehold Flats - Examples of Queries before buying

Most Cardiff Bay leasehold properties will be liable to pay a service charge for maintenance of the block set on behalf of the management company. Should you buy the property you will have to pay this contribution, usually in instalments during the year. This can be anything from two or three hundred pounds to thousands of pounds for buildings with lifts and large common grounds. In all probability there will be a rentcharge to be met annual, ordinarily this is not a significant figure, say around £25-£75 but you should to check it because occasionally it could be prohibitively expensive. What prohibitions exist in the Cardiff Bay Lease? Its a good idea to discover as much as you can regarding the company managing the building as they can either make your life much easier or problematic. Being a leasehold owner you will be at the mercy of the managing agents from a financial perspective and when it comes to every day issues like the tidiness of the communal areas. Don't be shy to ask prospective neighbours what they think of them. Finally, be sure you know the dates that the maintenance fees are due to the relevant party and precisely what you get for your money.

Other Topics

Lease Extensions in Cardiff Bay