I am on look out for some leasehold conveyancing in Dyserth. Before I set the wheels in motion I want to be sure as to the remaining lease term.

If the lease is registered - and almost all are in Dyserth - 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 am tempted by the attractive purchase price for a couple of flats in Dyserth both have approximately forty five years remaining on the leases. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Dyserth. The lease is a right to use the property for a period of time. As the lease shortens the marketability of the lease decreases and it becomes more costly to acquire a lease extension. This is why it is often a good idea to increase the term of the lease. It is often difficult to sell a property with a short lease as mortgage companies may be reluctant to lend money on such properties. Lease enfranchisement can be a difficult process. We recommend you get professional help from a solicitor and surveyor with experience in this area

I've recently bought a leasehold flat in Dyserth. Do I have any liability for service charges relating to a period prior to my ownership?

In a situation 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. It is an essential part 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).

What are your top tips when it comes to choosing a Dyserth conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a property lawyer for your lease extension (regardless if they are a Dyserth conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with several firms including non Dyserth conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:

• If the firm is not ALEP accredited then why not?

How many lease extensions has the firm completed in Dyserth in the last year?

All being well we will complete our sale of a £125000 apartment in Dyserth next week. The landlords agents has quoted £396 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat 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 :

• Addressing pre-exchange 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 conveyancer 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.

Leasehold Conveyancing in Dyserth - A selection of Questions you should ask Prior to buying

On the whole the outlay for major works tend not to be included within service charges, although there some managing agents in Dyserth ask tenants to contribute towards a reserve fund created for the specific purpose of establishing a fund for major works. Many Dyserth leasehold properties will have a service bill for the upkeep of the block levied on behalf of the management company. If you purchase the property you will have to pay this charge, normally quarterly accross the year. This may be anything from two or three hundred pounds to thousands of pounds for large purpose-built buildings. In all probability there will be a ground rent to be met yearly, normally this is not a exorbitant amount, say around £25-£75 but you should to enquire it because sometimes it could be many hundreds of pounds. Its a good idea to find out as much as you can concerning the managing agents as they will impact your use and enjoyment of the property. Being a leasehold owner you are often at the mercy of the managing agents both financially and when it comes to day to day matters such as the tidiness of the communal areas. Ask other tenants what they think of their management. On a final note, find out the dates that the service charges are due to the appropriate party and precisely what you get for your money.

Other Topics

Lease Extensions in Dyserth