Estate agents have just been given the go-ahead to market my basement apartment in Ebbw Vale.Conveyancing is yet to be initiated but I have just received a quarterly maintenance charge demand – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should clear the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

I've found a house that seems to meet my requirements, 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 am assuming that there are issues purchasing a leasehold house in Ebbw Vale. Conveyancing advisers have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Ebbw Vale ?

The majority of houses in Ebbw Vale 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. it is apparent that you are purchasing in Ebbw Vale so you should seriously consider shopping around for a Ebbw Vale conveyancing practitioner and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a lessee you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example requiring the freeholder’spermission to conduct alterations. It may be necessary to pay a contribution towards the maintenance of the communal areas where the house is part of an estate. Your lawyer will appraise you on the various issues.

My wife and I purchased a leasehold flat in Ebbw Vale. Conveyancing and Barclays mortgage are in place. I have received a letter from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1998. The conveyancing solicitor in Ebbw Vale who previously acted has now retired.Do I pay?

The first thing you should do is contact the Land Registry to be sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Ebbw Vale conveyancing solicitor to do this as it can be done on-line for £3. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am attracted to a two apartments in Ebbw Vale which have approximately forty five years left on the lease term. Will this present a problem?

A lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease shortens the value of the lease decreases and results in it becoming more costly to acquire a lease extension. This is why it is often a good idea to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease as mortgage companies may be unwilling to lend money on such properties. Lease extension can be a difficult process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this area

What are the frequently found deficiencies that you encounter in leases for Ebbw Vale properties?

There is nothing unique about leasehold conveyancing in Ebbw Vale. All leases is drafted differently and drafting errors can sometimes mean that certain sections are not included. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts of the property
• Insurance obligations
• 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

A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , Bank of Scotland, and Barclays Direct all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, obliging the purchaser to pull out.

I am the registered owner of a basement flat in Ebbw Vale, conveyancing having been completed in 2012. Can you work out an approximate cost of a lease extension? Equivalent properties in Ebbw Vale with over 90 years remaining are worth £221,000. The average or mid-range amount of ground rent is £60 invoiced annually. The lease terminates on 21st October 2076

With only 52 years remaining on your lease the likely cost is going to span between £36,100 and £41,800 as well as professional fees.

The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.

Other Topics

Lease Extensions in Ebbw Vale