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Recently asked questions relating to Cemaes Bay leasehold conveyancing

I am in need of some leasehold conveyancing in Cemaes Bay. Before diving in 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 Cemaes Bay - then the leasehold title will always include the short particulars 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 have recently realised that I have Sixty One years left on my lease in Cemaes Bay. I am keen to get lease extension but my landlord is missing. What are my options?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. You will be obliged to prove that you or your lawyers have done all that could be expected to track down the landlord. For most situations an enquiry agent would be useful to conduct investigations and to produce an expert document to be used as evidence that the landlord can not be located. It is advisable to get professional help from a solicitor in relation to investigating the landlord’s disappearance and the application to the County Court overseeing Cemaes Bay.

Back In 2005, I bought a leasehold house in Cemaes Bay. Conveyancing and Platform Home Loans Ltd mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1994. The conveyancing practitioner in Cemaes Bay who previously acted has long since retired.Any advice?

The first thing you should do is make enquiries of the Land Registry to be sure that this person is in fact the new freeholder. You do not need to instruct a Cemaes Bay conveyancing solicitor to do this as you can do this on the Land Registry website for £3. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

What advice can you give us when it comes to choosing a Cemaes Bay conveyancing firm to deal with our lease extension?

If you are instructing a property lawyer for lease extension works (regardless if they are a Cemaes Bay conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Cemaes Bay conveyancing practices before you 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 firm with lease extension legislation?
  • What volume of lease extensions has the firm conducted in Cemaes Bay in the last 12 months?

    • Can you provide any top tips for leasehold conveyancing in Cemaes Bay from the perspective of speeding up the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Cemaes Bay can be bypassed where you get in touch lawyers as soon as your agents start marketing the property and request that they start to put together the leasehold information which will be required by the buyers lawyers.
    • A minority of Cemaes Bay leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. The bank reference should make it clear that the buyer is financially capable of paying the annual 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 service charge figures so that they can pass this information on to the buyers or their solicitors.
  • If there is a history of any disputes with your landlord or managing agents it is essential that these are settled prior to the flat being put on the market. The purchasers and their solicitors will be nervous about purchasing a property where a dispute is unsettled. You may need to swallow your pride and discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is clearly preferable to reveal the dispute as over rather than unresolved.
  • If you are supposed to have a share in the freehold, you should ensure that you have the original share document. Obtaining a duplicate share certificate is often a time consuming formality and slows down many a Cemaes Bay home move. If a duplicate share is required, you should approach the company director and secretary or managing agents (if relevant) for this as soon as possible.
  • You may think that you are aware of the number of years left on your lease but it would be wise to verify this via your conveyancers. A purchaser's conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is less than 75 years. It is therefore important at an as soon as possible that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • I am the registered owner of a garden flat in Cemaes Bay, conveyancing having been completed 3 years ago. How much will my lease extension cost? Equivalent flats in Cemaes Bay with a long lease are worth £191,000. The ground rent is £55 invoiced every year. The lease finishes on 21st October 2100

    You have 75 years remaining on your lease the likely cost is going to be between £9,500 and £11,000 as well as costs.

    The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.

    Other Topics

    Lease Extensions in Cemaes Bay