Fixed-fee leasehold conveyancing in Dolwyddelan:

Any conveyancing practice can theoretically deal with your leasehold conveyancing in Dolwyddelan, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Sample questions relating to Dolwyddelan leasehold conveyancing

I am in need of some leasehold conveyancing in Dolwyddelan. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.

If the lease is recorded at the land registry - and 99.9% are in Dolwyddelan - 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.

I only have 68 years left on my flat in Dolwyddelan. I am keen to get lease extension but my landlord is missing. What are my options?

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 extended by the magistrate. You will be obliged to demonstrate that you or your lawyers have done all that could be expected to find the freeholder. In some cases a specialist should be useful to try and locate and to produce a report to be accepted by the court as proof that the landlord is indeed missing. It is wise to seek advice from a solicitor both on devolving into the landlord’s absence and the vesting order request to the County Court overseeing Dolwyddelan.

I am looking at a couple of maisonettes in Dolwyddelan which have about fifty years remaining on the leases. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Dolwyddelan. The lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease gets shorter the value of the lease reduces and results in it becoming more expensive to acquire a lease extension. For this reason it is generally wise to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this field

Last month I purchased a leasehold property in Dolwyddelan. Do I have any liability for service charges for periods before completion of my purchase?

In a situation 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. It is an essential part 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).

Can you provide any top tips for leasehold conveyancing in Dolwyddelan with the purpose of expediting the sale process?

  • Much of the delay in leasehold conveyancing in Dolwyddelan can be reduced where you appoint lawyers as soon as your agents start marketing the property and request that they start to collate the leasehold information needed by the buyers representatives.
  • The majority landlords or Management Companies in Dolwyddelan levy fees for providing 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 accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Dolwyddelan.
  • In the event that you altered the property did you need the Landlord’s permission? In particular have you installed wooden flooring? Most leases in Dolwyddelan state that internal structural changes or addition of wooden flooring calls for a licence from the Landlord consenting to such works. Where you dont have the approvals to hand you should not communicate with the landlord without contacting your conveyancer in the first instance.
  • Some Dolwyddelan leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. Any 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 purchasers or their lawyers.
  • If there is a history of conflict with your landlord or managing agents it is essential that these are settled 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 ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is clearly preferable to present the dispute as over rather than ongoing.

  • I am the registered owner of a studio flat in Dolwyddelan, conveyancing having been completed 8 years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar properties in Dolwyddelan with over 90 years remaining are worth £200,000. The average or mid-range amount of ground rent is £55 per annum. The lease ends on 21st October 2077

    You have 55 years unexpired we estimate the price of your lease extension to be between £29,500 and £34,000 as well as costs.

    The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Dolwyddelan