Guaranteed fixed fees for Leasehold Conveyancing in Deganwy

Get a Quote

When it comes to leasehold conveyancing in Deganwy, you will need to instruct a conveyancing lawyer with leasehold experience. Whether your lender is to be Santander, RBS or NatWest be sure to choose a lawyer on their panel. Find a Deganwy conveyancing lawyer with our search tool

Top Five Questions relating to Deganwy leasehold conveyancing

I am in need of some leasehold conveyancing in Deganwy. Before I set the wheels in motion I would like to find out the unexpired term of the lease.

If the lease is registered - and 99.9% are in Deganwy - 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.

Due to sign contracts shortly on a basement flat in Deganwy. Conveyancing solicitors inform me that they report fully on Monday. What should I be looking out for?

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

  • The unexpired lease term You should be advised as what happens when the lease expires, and aware of the importance of the 80 year mark
  • The physical extent of the property. This will be the flat itself but might include a roof space or cellar if appropriate.
  • Defining your legal entitlements in relation to common areas in the building.By way of example, does the lease contain a right of way over a path or staircase?
  • 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
  • Repair and maintenance of the flat
  • Changes to the flat (alterations and additions)
  • 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 For details of the information to be contained in your report on your leasehold property in Deganwy please enquire of your lawyer in ahead of your conveyancing in Deganwy

    • I work for a busy estate agency in Deganwy where we have experienced a number of flat sales derailed due to leases having less than 80 years remaining. I have been given inconsistent advice from local Deganwy conveyancing solicitors. Could you confirm whether the owner of a flat can commence the lease extension formalities for the purchaser on completion of the sale?

    Provided that the seller has owned the lease 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. This means that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.

    An alternative approach is 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.

    Can you provide any top tips for leasehold conveyancing in Deganwy from the point of view of expediting the sale process?

    • Much of the delay in leasehold conveyancing in Deganwy can be avoided if you instruct lawyers the minute you market your property and ask them to put together the leasehold documentation needed by the purchasers’ lawyers.
    • In the event that you altered the property did you need the Landlord’s approval? Have you, for example laid down wooden flooring? Most leases in Deganwy state that internal structural alterations or laying down wooden flooring necessitate a licence issued by the Landlord consenting to such alterations. If you fail to have the approvals in place do not communicate with the landlord without checking with your lawyer before hand.
  • If there is a history of any disputes with your freeholder or managing agents it is very important that these are resolved before the property is put on the market. The buyers and their solicitors will be warry about purchasing a property where there is an ongoing dispute. You may need to swallow your pride and pay 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 prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is better to reveal the dispute as historic as opposed to ongoing.
  • If you hold a share in a the Management Company, you should make sure that you have the original share document. Arranging a replacement share certificate can be a time consuming formality and slows down many a Deganwy conveyancing transaction. If a new share certificate is required, you should approach the company director and secretary or managing agents (where relevant) for this sooner rather than later.
  • You may think that you are aware of the number of years remaining on your lease but you should double-check by asking your conveyancers. A purchaser's lawyer will be unlikely to recommend their client to where the lease term is under 80 years. It is therefore essential at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • What makes a Deganwy lease unacceptable for security purposes?

    Leasehold conveyancing in Deganwy is not unique. All leases is drafted differently and legal mistakes in the legal wording can result in certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:

    • A provision to repair to or maintain elements of the building
    • Insurance obligations
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Maintenance charge proportions which don’t add up to the correct percentage

    A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, Barnsley Building Society, and Alliance & Leicester all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the buyer to withdraw.

    I bought a garden flat in Deganwy, conveyancing was carried out 2003. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable properties in Deganwy with an extended lease are worth £175,000. The average or mid-range amount of ground rent is £55 yearly. The lease runs out on 21st October 2102

    With just 77 years unexpired the likely cost is going to range between £9,500 and £11,000 as well as plus your own and the landlord's "reasonable" professional fees.

    The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Deganwy