I am on look out for some leasehold conveyancing in Cardigan. Before I get started I would like to find out the number of years remaining on the lease.

Assuming the lease is registered - and almost all are in Cardigan - then the leasehold title will always include the basic details 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.

My husband and I may need to sub-let our Cardigan ground floor flat for a while due to a career opportunity. We used a Cardigan conveyancing practice in 2001 but they have since shut and we did not think at the time get any advice as to whether the lease allows us to sublet. How do we find out?

Even though your last Cardigan conveyancing lawyer is no longer available you can review your lease to check if it allows you to sublet the premises. The accepted inference is that if the deeds are non-specific, subletting is allowed. Quite often there is a prerequisite that you are obliged to seek consent from your landlord or some other party before subletting. This means you not allowed to sublet without first obtaining permission. Such consent should not be unreasonably withheld. If your lease does not allow you to sublet you should ask your landlord for their consent.

I've found a house that appears to be perfect, at a reasonable figure which is making it more attractive. I have since been informed that the title is leasehold rather than freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Cardigan. Conveyancing advisers have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Cardigan ?

Most houses in Cardigan are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Cardigan so you should seriously consider looking for a Cardigan conveyancing practitioner and be sure that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. Being a tenant you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as requiring the freeholder’sconsent to carry out changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the property is located on an estate. Your conveyancer should advise you fully on all the issues.

I am attracted to a two flats in Cardigan both have about fifty years remaining on the leases. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold flat in Cardigan is a wasting asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it reduces the value of the property. The majority of purchasers and mortgage companies, leases with under 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 property 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 Cardigan conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending 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 any new 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 are your top tips when it comes to choosing a Cardigan conveyancing practice to carry out our lease extension conveyancing?

When appointing a property lawyer for your lease extension (regardless if they are a Cardigan conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with several firms including non Cardigan conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

• How experienced is the practice with lease extension legislation?
• Can they put you in touch with client in Cardigan who can give a testimonial?

Cardigan Conveyancing for Leasehold Flats - Sample of Questions you should ask Prior to Purchasing

How much is the service charge and ground rent on the flat?