Leasehold Conveyancing in Glan Conwy - Get a Quote from the leasehold experts approved by your lender

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Any conveyancing practice can theoretically deal with your leasehold conveyancing in Glan Conwy, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Recently asked questions relating to Glan Conwy leasehold conveyancing

I am in need of some leasehold conveyancing in Glan Conwy. Before I get started I want to be sure as to the remaining lease term.

If the lease is registered - and most are in Glan Conwy - then the leasehold title will always include the basic details 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 today plan to offer on a house that seems to be perfect, at a great price which is making it more attractive. I have since found out that the title is leasehold rather than freehold. I would have thought that there are particular concerns buying a leasehold house in Glan Conwy. Conveyancing solicitors have are soon to be appointed. Will they explain the issues?

Most houses in Glan Conwy are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Glan Conwy in which case you should be looking for a Glan Conwy conveyancing solicitor and check that they are used to dealing with leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the freeholder’spermission to carry out alterations. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the property is part of an estate. Your conveyancer should advise you fully on all the issues.

Back In 2003, I bought a leasehold house in Glan Conwy. Conveyancing and Birmingham Midshires mortgage organised. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1996. The conveyancing solicitor in Glan Conwy who previously acted has now retired.What should I do?

First contact the Land Registry to be sure that the individual purporting to own the freehold is in fact the new freeholder. It is not necessary to instruct a Glan Conwy conveyancing lawyer to do this as it can be done on-line for a few pound. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am a negotiator for a long established estate agency in Glan Conwy where we see a number of flat sales jeopardised as a result of short leases. I have received inconsistent advice from local Glan Conwy conveyancing firms. Please can you clarify whether the owner of a flat can initiate the lease extension process for the buyer?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.

An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

Can you provide any advice for leasehold conveyancing in Glan Conwy with the purpose of expediting the sale process?

  • Much of the frustration in leasehold conveyancing in Glan Conwy can be reduced if you instruct lawyers as soon as you market your property and ask them to collate the leasehold documentation which will be required by the purchasers’ lawyers.
  • The majority landlords or managing agents in Glan Conwy levy fees for supplying management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management information sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Glan Conwy.
  • A minority of Glan Conwy leases require Licence to Assign from the landlord. If this applies to your lease, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. Any bank reference should make it clear that the buyer is able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their lawyers.
  • If you have had conflict with your freeholder or managing agents it is very important that these are settled prior to the flat being put on the market. The buyers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You may have to bite the bullet and pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is better to present the dispute as historic rather than unresolved.
  • You believe that you know the number of years left on your lease but it would be advisable double-check via your conveyancers. A purchaser's lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is under 75 years. In the circumstances it is important at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • I am the registered owner of a garden flat in Glan Conwy, conveyancing formalities finalised in 1995. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent flats in Glan Conwy with an extended lease are worth £250,000. The ground rent is £65 per annum. The lease ceases on 21st October 2076

    With just 51 years left to run we estimate the premium for your lease extension to range between £37,100 and £42,800 as well as costs.

    The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be additional concerns 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 without first getting professional advice.

    Other Topics

    Lease Extensions in Glan Conwy