Recently asked questions relating to Colwyn Bay leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Colwyn Bay. Before diving in I want to be sure as to the number of years remaining on the lease.
Assuming the lease is registered - and most are in Colwyn Bay - 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.
Jane (my partner) and I may need to rent out our Colwyn Bay garden flat temporarily due to a new job. We instructed a Colwyn Bay conveyancing firm in 2001 but they have since shut and we did not have the foresight to get any advice as to whether the lease allows us to sublet. How do we find out?
The lease governs the relationship between the landlord and you the flat owner; specifically, it will say if subletting is not allowed, or permitted but only subject to certain caveats. The rule is that if the lease contains no specific ban or restriction, subletting is allowed. The majority of leases in Colwyn Bay do not contain strict prohibition on subletting – such a provision would adversely affect the market value the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the sublease.
I have just appointed agents to market my basement apartment in Colwyn Bay.Conveyancing lawyers have not yet been instructed but I have just had a yearly service charge invoice – Do I pay up?
The sensible thing to do is clear the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I own a leasehold house in Colwyn Bay. Conveyancing and Bank of Scotland mortgage are in place. I have received a letter from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1998. The conveyancing practitioner in Colwyn Bay who acted for me is not around.Do I pay?
The first thing you should do is make enquiries of HMLR to be sure that this person is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a Colwyn Bay conveyancing practitioner to do this as it can be done on-line for less than a fiver. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Do you have any top tips for leasehold conveyancing in Colwyn Bay from the perspective of expediting the sale process?
- Much of the delay in leasehold conveyancing in Colwyn Bay can be avoided if you appoint lawyers as soon as you market your property and request that they start to put together the leasehold documentation which will be required by the purchasers’ solicitors.
- The majority landlords or Management Companies in Colwyn Bay charge for supplying management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management information sought on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most common cause of delay in leasehold conveyancing in Colwyn Bay.
Leasehold Conveyancing in Colwyn Bay - A selection of Queries Prior to Purchasing
It would be prudent to enquire if the the lease contains any adverse restrictions in the lease. For example it is very common in Colwyn Bay leases that pets are not allowed in in a block in Colwyn Bay. If you love the flatin Colwyn Bay yet your dog is not allowed to move with you then you will be faced hard compromise.
It would be prudent to discover as much as possible about the company managing the building as they will either make life much easier or problematic. Being a leasehold owner you will be in the clutches of the managing agents both financially and when it comes to every day matters like the tidiness of the communal areas. Don't be afraid to ask other people what they think of their management. Finally, be sure you know the dates that you are obliged pay the maintenance charge to the relevant party and precisely what you get for your money.
What is the service charge and ground rent on the flat?