Leasehold Conveyancing in Cyncoed - Get a Quote from the leasehold experts approved by your lender

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Leasehold conveyancing in Cyncoed is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Cyncoed and across next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Cyncoed leasehold conveyancing: Q and A’s

Looking forward to complete next month on a garden flat in Cyncoed. Conveyancing lawyers assured me that they will have a report out to me within the next couple of days. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Cyncoed should include some of the following:

  • The length of the lease term You should be advised as what happens when the lease expires, and informed of the importance of the 80 year mark
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • Defining your legal entitlements in respect of the communal areas in the block.By way of example, does the lease permit a right of way over an accessway or hallways?
  • Whether your lease has a provision for a reserve fund?
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • What you can do if a neighbour breach a clause of their lease? For a comprehensive list of information to be included in your report on your leasehold property in Cyncoed please enquire of your lawyer in advance of your conveyancing in Cyncoed

    • I am attracted to a two flats in Cyncoed which have about fifty years unexpired on the lease term. Should I regard a short lease as a deal breaker?

    A lease is a right to use the property for a prescribed time frame. As the lease shortens the marketability of the lease reduces and results in it becoming more costly to acquire a lease extension. This is why it is often a good idea to extend the lease term. It is often difficulties arise selling premises with a short lease as mortgage companies may be unwilling to lend money on such properties. Lease extension can be a difficult process. We recommend you seek professional help from a conveyancer and surveyor with experience in this area

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

    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. A critical element of leasehold conveyancing for your conveyancer to ensure 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).

    What are your top tips when it comes to appointing a Cyncoed conveyancing firm to deal with our lease extension?

    When appointing a conveyancer for your lease extension (regardless if they are a Cyncoed conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you talk with two or three firms including non Cyncoed conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:

    • How many lease extensions has the firm carried out in Cyncoed in the last year?
  • What are the costs for lease extension work?

    • Can you provide any top tips for leasehold conveyancing in Cyncoed with the aim of saving time on the sale process?

    • Much of the delay in leasehold conveyancing in Cyncoed can be reduced where you appoint lawyers as soon as your agents start advertising the property and ask them to collate the leasehold documentation needed by the purchasers’ lawyers.
    • If you have carried out any alterations to the residence would they have required Landlord’s consent? In particular have you installed wooden flooring? Cyncoed leases often stipulate that internal structural changes or laying down wooden flooring require a licence from the Landlord consenting to such alterations. Where you fail to have the consents in place do not contact the landlord without contacting your solicitor in the first instance.
  • A minority of Cyncoed leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference will need to confirm that the buyers are financially capable of paying 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 buyers or their solicitors.
  • If you are supposed to have a share in the Management Company, you should ensure that you are holding the original share document. Organising a new share certificate can be a time consuming process and delays many a Cyncoed conveyancing deal. If a reissued share certificate is required, you should approach the company director and secretary or managing agents (where relevant) for this sooner rather than later.
  • You believe that you know the number of years left on your lease but it would be wise to double-check by asking your lawyers. A purchaser's lawyer will be unlikely to recommend their client to where the remaining number of years is less than 75 years. It is therefore essential at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • Cyncoed Leasehold Conveyancing - A selection of Queries Prior to buying

      Does the lease have onerous restrictions? How many of the leaseholders are in arrears for their service charge payments? How much is the ground rent and service charge?

    Other Topics

    Lease Extensions in Cyncoed