Common questions relating to Carmarthen leasehold conveyancing
I am in need of some leasehold conveyancing in Carmarthen. Before I get started I would like to find out the unexpired term of the lease.
Assuming the lease is recorded at the land registry - and almost all are in Carmarthen - 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.
I would like to sublet my leasehold apartment in Carmarthen. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?
Some leases for properties in Carmarthen do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.
I own a leasehold flat in Carmarthen. Conveyancing and Leeds Building Society mortgage organised. A letter has just been received from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1995. The conveyancing practitioner in Carmarthen who previously acted has now retired.Any advice?
The first thing you should do is make enquiries of HMLR to be sure that this person is indeed the new freeholder. There is no need to incur the fees of a Carmarthen conveyancing solicitor to do this as it can be done on-line for less than a fiver. 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 work for a long established estate agency in Carmarthen where we see a few flat sales derailed due to short leases. I have been given inconsistent advice from local Carmarthen conveyancing firms. Please can you shed some light as to whether the owner of a flat can commence the lease extension formalities for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
All being well we will complete our sale of a £350000 flat in Carmarthen in 5 days. The management company has quoted £348 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Carmarthen?
Carmarthen conveyancing on leasehold apartments often necessitates the purchaser’s conveyancer submitting questions for the landlord to address. Although the landlord is not legally bound to address these enquiries the majority will be willing to assist. They may charge a reasonable charge for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is over three hundred pounds, in some situations it is above £800. The administration charge levied by the landlord must be sent together with a synopsis of entitlements and obligations in respect of administration charges, without which the charge is technically not due. In reality one has little choice but to pay whatever is demanded if you want to sell the property.
I invested in buying a basement flat in Carmarthen, conveyancing formalities finalised in 2012. How much will my lease extension cost? Equivalent flats in Carmarthen with an extended lease are worth £231,000. The average or mid-range amount of ground rent is £50 levied per year. The lease runs out on 21st October 2080
With only 60 years remaining on your lease the likely cost is going to range between £24,700 and £28,600 plus legals.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. You should not use this information in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.