Planning to complete next month on a leasehold property in Cardiff Bay. Conveyancing solicitors have said that they report fully within the next couple of days. What should I be looking out for?

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

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
• The physical extent of the demise. This will be the flat itself but might include a loft or basement if appropriate.
• Setting out your rights in respect of the communal areas in the block.E.G., does the lease grant a right of way over a path or staircase?
• Ground rent - how much and when you need to pay, and also know whether this will change in the future
• You should have a good understanding of the insurance provisions
• Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
• What you can do if a neighbour is in violation of a provision in their lease?

Back In 2000, I bought a leasehold house in Cardiff Bay. Conveyancing and Alliance & Leicester mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1998. The conveyancing practitioner in Cardiff Bay who acted for me is not around.Any advice?

First contact HMLR to be sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. You do not need to instruct a Cardiff Bay conveyancing firm to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am attracted to a couple of flats in Cardiff Bay which have about fifty years unexpired on the leases. Will this present a problem?

A lease is a right to use the property for a period of time. As a lease shortens the saleability of the lease reduces and it becomes more costly to extend the lease. For this reason it is generally wise to increase the term of the lease. It is often difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this area

Can you provide any advice for leasehold conveyancing in Cardiff Bay from the point of view of expediting the sale process?

• A significant proportion of the delay in leasehold conveyancing in Cardiff Bay can be avoided if you get in touch lawyers as soon as you market your property and ask them to put together the leasehold information needed by the buyers lawyers.
• Many landlords or Management Companies in Cardiff Bay levy fees for supplying management packs for a leasehold property. 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 typical amount of time it takes to obtain the necessary information is three weeks. It is the most common cause of delay in leasehold conveyancing in Cardiff Bay.
• If you have carried out any alterations to the residence would they have required Landlord’s permission? Have you, for example laid down wooden flooring? Cardiff Bay leases often stipulate that internal structural alterations or installing wooden flooring require a licence issued by the Landlord consenting to such works. Where you dont have the approvals to hand you should not contact the landlord without contacting your solicitor first.
• If there is a history of any disputes with your freeholder or managing agents it is very important that these are resolved before the property is put on the market. The purchasers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You may have to bite the bullet and discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is clearly preferable to present the dispute as over as opposed to ongoing.
• You may think that you are aware of the number of years remaining on your lease but you should verify this via your conveyancers. A buyer’s lawyer will not be happy to advise their client to to exchange contracts if the remaining number of years is below 80 years. It is therefore important at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

What makes a Cardiff Bay lease defective?

There is nothing unique about leasehold conveyancing in Cardiff Bay. All leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain provisions are wrong. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain parts of the premises
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

You could have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Barnsley Building Society, and Nottingham Building Society all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, forcing the buyer to withdraw.

Cardiff Bay Conveyancing for Leasehold Flats - A selection of Questions you should consider before buying