Having had my offer accepted I require leasehold conveyancing in Grangetown. Before I set the wheels in motion I require certainty as to the remaining lease term.

Assuming the lease is registered - and almost all are in Grangetown - 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.

My wife and I may need to let out our Grangetown garden flat temporarily due to a career opportunity. We instructed a Grangetown conveyancing firm in 2002 but they have since shut and we did not have the foresight to get any advice as to whether the lease permits subletting. How do we find out?

Even though your previous Grangetown conveyancing solicitor is not around you can review your lease to see if you are permitted to let out the premises. The rule is that if the lease is non-specific, subletting is permitted. Quite often there is a prerequisite that you need to seek permission via your landlord or some other party before subletting. The net result is you not allowed to sublet without prior permission. Such consent should not be unreasonably withheld. If the lease does not allow you to sublet you will need to ask your landlord for their consent.

I've found a house that appears to meet my requirements, at a great figure which is making it more attractive. I have since found out that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Grangetown. Conveyancing lawyers have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Grangetown ?

Most houses in Grangetown are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Grangetown so you should seriously consider looking for a Grangetown conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as obtaining the freeholder’spermission to carry out alterations. You may also be required to pay a service charge towards the upkeep of the estate where the house is part of an estate. Your lawyer will report to you on the legal implications.

I work for a long established estate agent office in Grangetown where we have witnessed a few leasehold sales derailed due to short leases. I have been given conflicting advice from local Grangetown conveyancing firms. Please can you shed some light as to whether the owner of a flat can initiate the lease extension process for the purchaser on completion of the sale?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having 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 at the same time as completion of the disposal of the property.

An alternative approach is to extend the lease informally by agreement with the landlord 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 buyer.

Do you have any top tips for leasehold conveyancing in Grangetown with the intention of saving time on the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Grangetown can be avoided if you get in touch lawyers the minute you market your property and ask them to put together the leasehold documentation which will be required by the buyers conveyancers.
• The majority freeholders or managing agents in Grangetown charge for providing management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management information can be applied for on or before finding 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 delay in leasehold conveyancing in Grangetown.
• A minority of Grangetown leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers put in hand bank and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the annual 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 actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.
• If you hold a share in a the freehold, you should make sure that you are holding the original share certificate. Obtaining a duplicate share certificate can be a time consuming formality and delays many a Grangetown conveyancing transaction. Where a duplicate share certificate is necessary, do contact the company director and secretary or managing agents (where applicable) for this sooner rather than later.
• You may think that you are aware of the number of years remaining on your lease but it would be wise to verify this via your conveyancers. A buyer’s lawyer will not be happy to advise their client to where the remaining number of years is under 75 years. In the circumstances it is essential 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 home on the market for sale.

Grangetown Conveyancing for Leasehold Flats - Examples of Queries before Purchasing

Who are the managing agents? You should be aware that where the lease has fewer than eighty years it will impact the value of the flat. Check with your mortgage company that they are willing to to proceed given the lease term. A short lease means that you will almost definitely need a lease extension at some point and it is worth finding out what this will be. Remember, in most cases you would be be obliged to have been the owner of the property for 24 months before you are entitled to carry out a lease extension.