There are only 72 years left on my flat in Deganwy. I need to extend my lease but my freeholder is can not be found. What should I do?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. You will be obliged to demonstrate that you have used your best endeavours to track down the landlord. On the whole a specialist should be useful to try and locate and prepare an expert document which can be accepted by the court as evidence that the landlord can not be located. It is wise to seek advice from a property lawyer both on devolving into the landlord’s disappearance and the vesting order request to the County Court overseeing Deganwy.

I am attracted to a couple of apartments in Deganwy which have approximately 50 years left on the leases. Will this present a problem?

A lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease gets shorter the saleability of the lease reduces and it becomes more costly to extend the lease. For this reason it is generally wise to extend the lease term. More often than not it is difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We advise that you get professional assistance from a solicitor and surveyor with experience in this arena

I've recently bought a leasehold flat in Deganwy. Am I liable to pay service charges for periods before my ownership?

Where the service charge has already been demanded from the previous owner 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 be sure 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).

Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £ 400000 maisonette in Deganwy in just under a week. The freeholder has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Deganwy?

Deganwy conveyancing on leasehold apartments often requires the buyer’s lawyer sending questions for the landlord to address. Although the landlord is not legally bound to answer such questions most will be willing to do so. They may charge a reasonable administration fee for responding to questions or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is £350, in some situations it is above £800. The administration charge required by the landlord must be accompanied by a summary of entitlements and obligations in respect of administration charges, without which the invoice is not strictly payable. Reality however dictates that you have little option but to pay whatever is requested of you if you want to exchange contracts with the buyer.

Are there common defects that you witness in leases for Deganwy properties?

There is nothing unique about leasehold conveyancing in Deganwy. Most leases are unique and drafting errors can sometimes mean that certain clauses are missing. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain parts of the premises
• A duty to insure the building
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

You may have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Lloyds TSB Bank, Leeds Building Society, and Aldermore all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, forcing the buyer to pull out.

I purchased a 2 bed flat in Deganwy, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Deganwy with over 90 years remaining are worth £193,000. The ground rent is £50 invoiced every year. The lease expires on 21st October 2077

With 51 years left to run the likely cost is going to range between £34,200 and £39,600 as well as professional fees.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.