Top Five Questions relating to Glan Conwy leasehold conveyancing
I've found a house that appears to be perfect, at a great figure which is making it all the more appealing. I have subsequently discovered that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a leasehold house in Glan Conwy. Conveyancing lawyers have are about to be instructed. Will they explain the issues?
The majority of houses in Glan Conwy are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. We note that you are purchasing in Glan Conwy so you should seriously consider looking for a Glan Conwy conveyancing solicitor and check that they have experience in advising 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 to the property. The lease comes with conditions for example obtaining the landlord’sconsent to carry out changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the estate where the property is part of an estate. Your solicitor will report to you on the legal implications.
I own a leasehold flat in Glan Conwy. Conveyancing and Birmingham Midshires mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1992. The conveyancing solicitor in Glan Conwy who acted for me is not around.What should I do?
First contact HMLR to be sure that this person is in fact the new freeholder. It is not necessary to instruct a Glan Conwy conveyancing firm to do this as you can do this on the Land Registry website for £3. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Last month I purchased a leasehold flat in Glan Conwy. Am I liable to pay service charges relating to a period prior to completion of my purchase?
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. However, your landlord may still be able to take action to forfeit the lease. A critical element 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).
Can you offer any advice when it comes to finding a Glan Conwy conveyancing firm to deal with our lease extension?
When appointing a solicitor for your lease extension (regardless if they are a Glan Conwy conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with two or three firms including non Glan Conwy conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be helpful:
- If the firm is not ALEP accredited then what is the reason?
Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £350000 apartment in Glan Conwy in just under a week. The landlords agents has quoted £372 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Glan Conwy?
Glan Conwy conveyancing on leasehold maisonettes ordinarily involves fees being invoiced by landlords agents :
- Completing conveyancing due diligence enquiries
- Where consent is required before sale in Glan Conwy
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Glan Conwy Leasehold Conveyancing - Sample of Questions you should ask Prior to Purchasing
What is the name of the managing agents?
This question is important as a) areas could result in problems for the building as the common areas may start to deteriorate if repairs are not paid for b) if the tenants have a dispute with the running of the building you will wish to have complete disclosure
How long is the Lease?