I am in need of some leasehold conveyancing in Gwernaffield. Before I get started I require certainty as to the remaining lease term.

Assuming the lease is recorded at the land registry - and 99.9% 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.

I would like to rent out my leasehold flat in Gwernaffield. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

Even though your last Gwernaffield conveyancing solicitor is no longer available you can check your lease to see if it allows you to sublet the property. The rule is that if the deeds are non-specific, subletting is permitted. There may be a precondition that you are obliged to seek permission via your landlord or other appropriate person before subletting. The net result is that you cannot sublet in the absence of prior permission. The consent must not not be unreasonably turned down. If your lease does not allow you to sublet you will need to ask your landlord for their consent.

I have just started marketing my 2 bed apartment in Gwernaffield.Conveyancing lawyers have not yet been instructed but I have just had a quarterly service charge invoice – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should discharge the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

I am a negotiator for a reputable estate agency in Gwernaffield where we have experienced a few flat sales jeopardised due to leases having less than 80 years remaining. I have been given contradictory information from local Gwernaffield conveyancing solicitors. Can you shed some light as to whether the vendor of a flat can instigate the lease extension process for the buyer?

Provided that 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. The benefit of this is that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.

Alternatively, it may be possible 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.

What makes a Gwernaffield lease unmortgageable?

Leasehold conveyancing in Gwernaffield is not unique. All leases are individual and drafting errors can sometimes mean that certain clauses are missing. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain elements of the building
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, Barnsley Building Society, and Aldermore all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, forcing the buyer to withdraw.

I acquired a basement flat in Gwernaffield, conveyancing having been completed in 2001. 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 a long lease are worth £221,000. The average or mid-range amount of ground rent is £55 invoiced annually. The lease comes to an end on 21st October 2092

With just 69 years left to run the likely cost is going to be between £9,500 and £11,000 as well as professional fees.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.

Other Topics

Lease Extensions in Gwernaffield