Experts for Leasehold Conveyancing in Colwyn Bay

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Common questions relating to Colwyn Bay leasehold conveyancing

Frank (my husband) and I may need to rent out our Colwyn Bay basement flat for a while due to a new job. We instructed a Colwyn Bay conveyancing practice in 2001 but they have closed and we did not think at the time seek any advice as to whether the lease allows us to sublet. How do we find out?

Even though your last Colwyn Bay conveyancing solicitor is no longer available you can check your lease to check if it allows you to sublet the premises. The rule is that if the lease is non-specific, subletting is allowed. There may be a precondition that you are obliged to seek permission via your landlord or other appropriate person in advance of subletting. This means that you cannot sublet without first obtaining consent. The consent should not be unreasonably refused ore delayed. If the lease prohibits you from subletting the property you should ask your landlord if they are willing to waive this restriction.

Looking forward to sign contracts shortly on a garden flat in Colwyn Bay. Conveyancing solicitors assured me that they report fully on Monday. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Colwyn Bay should include some of the following:

  • You should be sent a copy of the lease
  • Does the lease prohibit wood flooring?
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • Whether your lease has a provision for a sinking fund?
  • You should have a good understanding of the insurance provisions
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice? For a comprehensive list of information to be included in your report on your leasehold property in Colwyn Bay please ask your solicitor in ahead of your conveyancing in Colwyn Bay

  • I own a leasehold flat in Colwyn Bay. Conveyancing and Barclays Direct mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Colwyn Bay who previously acted has long since retired.Any advice?

    First make enquiries of the Land Registry to make sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Colwyn Bay conveyancing lawyer to do this as it can be done on-line for £3. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

    I work for a reputable estate agency in Colwyn Bay where we have experienced a few flat sales put at risk as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Colwyn Bay conveyancing solicitors. Please can you shed some light as to whether the vendor of a flat can instigate 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 buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.

    An alternative approach is to agree the lease extension with the freeholder 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 buyer.

    If all goes to plan we aim to complete the sale of our £375000 flat in Colwyn Bay next Wednesday . The freeholder has quoted £336 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Colwyn Bay?

    Colwyn Bay conveyancing on leasehold apartments typically necessitates administration charges levied by managing agents :

    • Addressing pre-exchange enquiries
    • Where consent is required before sale in Colwyn Bay
    • 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 Colwyn Bay leasehold property is £350. For Colwyn Bay 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 provide answers.

    I acquired a studio flat in Colwyn Bay, conveyancing was carried out 1995. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Colwyn Bay with over 90 years remaining are worth £238,000. The average or mid-range amount of ground rent is £60 levied per year. The lease ends on 21st October 2103

    With just 79 years remaining on your lease we estimate the premium for your lease extension to be between £12,400 and £14,200 as well as professional fees.

    The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.

    Other Topics

    Lease Extensions in Colwyn Bay