I am on look out for some leasehold conveyancing in Gwernaffield. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.

If the lease is registered - and almost all are in Gwernaffield - 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.

There are only 68 years unexpired on my lease in Gwernaffield. I now wish to get lease extension but my freeholder is absent. What are my options?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. However, you will be required to demonstrate that you have made all reasonable attempts to track down the landlord. In some cases a specialist may be helpful to carry out a search and to produce a report which can be accepted by the court as proof that the landlord is indeed missing. It is wise to seek advice from a conveyancer both on investigating the landlord’s absence and the application to the County Court covering Gwernaffield.

I am tempted by the attractive purchase price for a couple of maisonettes in Gwernaffield both have approximately fifty years left on the leases. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Gwernaffield. The lease is a right to use the premises for a prescribed time frame. As a lease shortens the value of the lease deteriorate and it becomes more costly to acquire a lease extension. For this reason it is advisable to increase the term of the lease. It is often difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this field

Last month I purchased a leasehold flat in Gwernaffield. Do I have any liability for service charges for periods before 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. 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 ensure 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 finding a Gwernaffield conveyancing firm to deal with our lease extension?

If you are instructing a property lawyer for your lease extension (regardless if they are a Gwernaffield conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We advise that you talk with two or three firms including non Gwernaffield conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be helpful:

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

I acquired a garden flat in Gwernaffield, conveyancing was carried out 2008. 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? Similar flats in Gwernaffield with over 90 years remaining are worth £183,000. The ground rent is £45 charged once a year. The lease ceases on 21st October 2077

With just 52 years unexpired we estimate the price of your lease extension to be between £35,200 and £40,600 as well as legals.

The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed investigations. Do not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.

Other Topics

Lease Extensions in Gwernaffield