I am hoping to put an offer on a small detached house that seems to be perfect, at a great price which is making it more attractive. I have just discovered that it's a leasehold as opposed to freehold. I am assuming that there are issues purchasing a leasehold house in Carmarthen. Conveyancing solicitors have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Carmarthen ?

Most houses in Carmarthen are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. It is clear that you are purchasing in Carmarthen in which case you should be looking for a Carmarthen conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. First you will need to check the number of years remaining. As a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as requiring the freeholder’sconsent to carry out alterations. It may be necessary to pay a contribution towards the upkeep of the estate where the house is located on an estate. Your solicitor should advise you fully on all the issues.

Last month I purchased a leasehold property in Carmarthen. Do I have any liability for service charges for periods before my ownership?

In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Do you have any top tips for leasehold conveyancing in Carmarthen from the perspective of expediting the sale process?

• A significant proportion of the delay in leasehold conveyancing in Carmarthen can be avoided where you instruct lawyers as soon as your agents start marketing the property and request that they start to collate the leasehold documentation needed by the buyers conveyancers.
• The majority freeholders or Management Companies in Carmarthen charge for supplying management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Carmarthen.

In the event that you altered the property did you need the Landlord’s consent? In particular have you installed wooden flooring? Carmarthen leases often stipulate that internal structural alterations or addition of wooden flooring require a licence issued by the Landlord approving such alterations. Should you dont have the consents to hand you should not contact the landlord without contacting your lawyer first.

Some Carmarthen leases require Licence to Assign from the landlord. If this applies to your lease, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. The bank reference should make it clear that the buyer is able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers.

If you are supposed to have a share in the freehold, you should ensure that you have the original share certificate. Obtaining a new share certificate can be a lengthy process and frustrates many a Carmarthen conveyancing transaction. If a reissued share is required, do contact the company director and secretary or managing agents (where relevant) for this as soon as possible.

If all goes to plan we aim to complete the disposal of our £375000 maisonette in Carmarthen on Monday in a week. The management company has quoted £372 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Carmarthen?

Carmarthen conveyancing on leasehold maisonettes typically necessitates administration charges levied by managing agents :

• Addressing conveyancing due diligence questions
• Where consent is required before sale in Carmarthen
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Carmarthen leasehold property is £350. For Carmarthen conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to supply answers.

When it comes to leasehold conveyancing in Carmarthen what are the most frequent lease defects?

There is nothing unique about leasehold conveyancing in Carmarthen. All leases is drafted differently and drafting errors can result in certain sections are erroneous. 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.
• Service charge per centages that don't add up correctly leaving a shortfall

You could encounter 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. Santander, Barnsley Building Society, and Barclays Direct all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the buyer to withdraw.

Carmarthen Leasehold Conveyancing - Sample of Questions you should ask Prior to buying

The majority of Carmarthen leasehold apartments will incur a service charge for maintenance of the building invoiced on behalf of the management company. If you buy the property you will have to meet this charge, normally in instalments throughout the year. This may differ from several hundred pounds to thousands of pounds for blocks with lifts and large common areas. In all probability there will be a rentcharge to be met annual, this is usually not a significant amount, say around £25-£75 but you should to enquire it because on occasion it can be prohibitively expensive. Can you inform me if there are any major works in the planning that will likely increase the maintenance costs? Make sure you investigate if there is anything that is prohibited in the lease. For example some leases prohibit pets being allowed in certain buildings in Carmarthen. If you like the apartmentin Carmarthen however your dog is not allowed to move with you then you will be faced difficult choice.

Other Topics

Lease Extensions in Carmarthen