I today plan to offer on a house that appears to be perfect, at a great price which is making it all the more appealing. I have since discovered that the title is leasehold rather than freehold. I would have thought that there are particular concerns buying a leasehold house in Dyserth. Conveyancing lawyers have are about to be appointed. Will they explain the issues?

The majority of houses in Dyserth are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in Dyserth in which case you should be looking for a Dyserth conveyancing practitioner and be sure that they are used to advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as requiring the freeholder’spermission to carry out changes to the property. It may be necessary to pay a contribution towards the maintenance of the estate where the house is located on an estate. Your solicitor will advise you fully on all the issues.

I am looking at a couple of flats in Dyserth both have in the region of forty five years left on the lease term. Should I regard a short lease as a deal breaker?

A lease is a legal document that entitles you to use the property for a period of time. As a lease gets shorter the saleability of the lease deteriorate and it becomes more costly to acquire a lease extension. This is why it is generally wise to increase the term of the lease. It is often difficult to sell a property with a short lease because mortgage companies may be unwilling to lend money on such properties. Lease enfranchisement can be a protracted process. We recommend you get professional assistance from a solicitor and surveyor with experience in this field

Last month I purchased a leasehold house in Dyserth. 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 lessee 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. 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).

Can you offer any advice when it comes to choosing a Dyserth conveyancing firm to carry out our lease extension conveyancing?

When appointing a property lawyer for lease extension works (regardless if they are a Dyserth conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with two or three firms including non Dyserth conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:

• If the firm is not ALEP accredited then what is the reason?

What volume of lease extensions have they carried out in Dyserth in the last 12 months?

Completion in due on the sale of our £200000 maisonette in Dyserth in six days. The management company has quoted £300 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Dyserth?

For most leasehold sales in Dyserth conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Completing conveyancing due diligence questions
• Where consent is required before sale in Dyserth
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Dyserth leasehold property is £350. For Dyserth conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to supply answers.

Dyserth Leasehold Conveyancing - Sample of Queries before buying

Please tell me if there are any major works on the horizon that will add a premium to the service charges? What is the the remaining lease term? Does the lease have onerous restrictions?

Other Topics

Lease Extensions in Dyserth