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Gwernaffield leasehold conveyancing: Q and A’s

There are only 62 years remaining on my lease in Gwernaffield. I need to get lease extension but my landlord is missing. What are my options?

On the basis that 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 an order to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the Court. You will be obliged to prove that you have done all that could be expected to locate the landlord. For most situations a specialist should be useful to conduct investigations and to produce an expert document to be used as proof that the freeholder can not be located. It is wise to seek advice from a property lawyer in relation to proving the landlord’s disappearance and the application to the County Court overseeing Gwernaffield.

I've found a house that appears to tick a lot of boxes, at a reasonable figure which is making it more attractive. I have just discovered 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 Gwernaffield. Conveyancing lawyers have not yet been appointed. Will they explain the issues?

Most houses in Gwernaffield are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Gwernaffield in which case you should be looking for a Gwernaffield conveyancing solicitor and be sure that they are used to transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example requiring the landlord’spermission to carry out changes to the property. 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 appraise you on the various issues.

I own a leasehold house in Gwernaffield. Conveyancing and The Royal Bank of Scotland mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1991. The conveyancing practitioner in Gwernaffield who acted for me is not around.What should I do?

The first thing you should do is contact the Land Registry to be sure that the individual claiming to own the freehold is in fact the new freeholder. It is not necessary to instruct a Gwernaffield conveyancing solicitor to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am looking at a couple of flats in Gwernaffield which have about fifty years unexpired on the leases. should I be concerned?

There are plenty of short leases in Gwernaffield. The lease is a right to use the property for a period of time. As the lease gets shorter the saleability of the lease reduces and it becomes more expensive to acquire a lease extension. For this reason it is often a good idea to increase the term of the lease. It is often 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 protracted process. We recommend you get professional help from a conveyancer and surveyor with experience in this arena

In relation to leasehold conveyancing in Gwernaffield what are the most common lease problems?

There is nothing unique about leasehold conveyancing in Gwernaffield. Most leases are unique and legal mistakes in the legal wording can sometimes mean that certain sections are missing. For example, if your lease is missing any of the following, it could be defective:

  • A provision to repair to or maintain parts of the building
  • Insurance obligations
  • Clauses dealing with recovering service charges for expenditure on the building or common parts.
  • Service charge per centages that don't add up correctly leaving a shortfall

A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, Bank of Scotland, and Clydesdale all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the buyer to withdraw.

I inherited a split level flat in Gwernaffield, conveyancing was carried out in 1995. How much will my lease extension cost? Similar properties in Gwernaffield with a long lease are worth £219,000. The ground rent is £45 yearly. The lease terminates on 21st October 2081

With only 60 years left to run the likely cost is going to span between £23,800 and £27,400 as well as costs.

The figure above a general guide to costs for extending a lease, but we are not able to provide the actual costs without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.

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Lease Extensions in Gwernaffield