Common questions relating to Dolwyddelan leasehold conveyancing
Harry (my fiance) and I may need to rent out our Dolwyddelan basement flat for a while due to a career opportunity. We used a Dolwyddelan conveyancing practice in 2003 but they have since shut and we did not have the foresight to get any advice as to whether the lease permits subletting. How do we find out?
The lease governs the relationship between the landlord and you the flat owner; specifically, it will set out if subletting is prohibited, or permitted but only subject to certain conditions. The rule is that if the lease contains no expres ban or restriction, subletting is permitted. The majority of leases in Dolwyddelan do not prevent subletting altogether – such a provision would undoubtedly devalue the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.
I today plan to offer on a house that seems to meet my requirements, at a reasonable figure which is making it more attractive. I have since found out that it's a leasehold rather than freehold. I am assuming that there are issues buying a house with a leasehold title in Dolwyddelan. Conveyancing lawyers have not yet been appointed. Will they explain the issues?
The majority of houses in Dolwyddelan are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Dolwyddelan so you should seriously consider shopping around for a Dolwyddelan conveyancing practitioner and check that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. As a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as requiring the landlord’spermission to carry out alterations. You may also be required to pay a service charge towards the maintenance of the communal areas where the property is part of an estate. Your lawyer will appraise you on the various issues.
I am looking at a two flats in Dolwyddelan which have approximately forty five years left on the leases. should I be concerned?
A lease is a right to use the premises for a prescribed time frame. As a lease gets shorter the value of the lease deteriorate and results in it becoming more expensive to acquire a lease extension. This is why it is advisable to extend the lease term. It is often difficult to sell a property with a short lease because mortgage lenders may be reluctant to lend money on such properties. Lease enfranchisement can be a protracted process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this area
I've recently bought a leasehold house in Dolwyddelan. Do I have any liability for service charges relating to a period prior to 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. Strange as it may seem, 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).
What are your top tips when it comes to appointing a Dolwyddelan conveyancing firm to deal with our lease extension?
If you are instructing a solicitor for your lease extension (regardless if they are a Dolwyddelan 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 speak with two or three firms including non Dolwyddelan conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be of use:
- How experienced is the firm with lease extension legislation?
Dolwyddelan Leasehold Conveyancing - Examples of Questions you should consider before Purchasing
It would be a good idea to find out if there is anything that is prohibited in the lease. For example some leases prohibit pets being permitted in certain buildings in Dolwyddelan. If you love the apartmentin Dolwyddelan but your dog is not allowed to live with you then you will be faced hard choice.
For many Dolwyddelan leaseholds the outlay for major works tend not to be built into the service charges, albeit that there some managing agents in Dolwyddelan obliged leaseholders to contribute towards a sinking fund and this is used to offset against major works.
Best to be warned whether a new roof is being put on or some other significant cost is coming up to be shared by the tenants and will dramatically increase the the maintenance fees or necessitate a one off payment.