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Harlech leasehold conveyancing Example Support Desk Enquiries

Having had my offer accepted I require leasehold conveyancing in Harlech. Before I set the wheels in motion I want to be sure as to the remaining lease term.

If the lease is registered - and 99.9% are in Harlech - 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.

Planning to complete next month on a basement flat in Harlech. Conveyancing lawyers have said that they are sending me a report within the next couple of days. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Harlech should include some of the following:

  • Will you be prohibited or prevented from having pets in the property?
  • You should be told what counts as a Nuisance in the lease
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • Whether your lease has a provision for a sinking fund?
  • You should have a good understanding of the insurance provisions
  • Repair and maintenance of the flat
  • Responsibility for repairing the window frames For a comprehensive list of information to be included in your report on your leasehold property in Harlech please enquire of your conveyancer in advance of your conveyancing in Harlech

    • I am a negotiator for a long established estate agent office in Harlech where we have witnessed a number of leasehold sales derailed due to leases having less than 80 years remaining. I have been given conflicting advice from local Harlech conveyancing solicitors. Please can you clarify whether the seller 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. The benefit of this is that the buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.

    Alternatively, it may be possible 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.

    Can you provide any advice for leasehold conveyancing in Harlech with the intention of expediting the sale process?

    • Much of the frustration in leasehold conveyancing in Harlech can be reduced where you appoint lawyers the minute you market your property and request that they start to put together the leasehold documentation needed by the purchasers’ lawyers.
    • In the event that you altered the property did you need the Landlord’s permission? Have you, for example installed wooden flooring? Most leases in Harlech state that internal structural alterations or installing wooden flooring require a licence from the Landlord consenting to such alterations. If you fail to have the approvals in place you should not communicate with the landlord without checking with your lawyer before hand.
  • Some Harlech 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 will need to confirm that the buyers are 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 actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.
  • If you have the benefit of shareholding in the freehold, you should make sure that you hold the original share document. Obtaining a re-issued share certificate can be a lengthy process and frustrates many a Harlech home move. Where a duplicate share certificate is needed, you should approach the company officers or managing agents (where applicable) for this at the earliest opportunity.
  • You believe that you know the number of years remaining on your lease but it would be wise to verify this by asking your lawyers. A buyer’s lawyer will be unlikely to recommend their client to where the remaining number of years is less than 80 years. It is therefore important at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • Are there frequently found problems that you encounter in leases for Harlech properties?

    There is nothing unique about leasehold conveyancing in Harlech. Most leases are unique and drafting errors can result in certain provisions are missing. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain elements of the premises
    • Insurance obligations
    • A provision for the recovery of money spent for the benefit of another party.
    • Maintenance charge proportions which don’t add up to the correct percentage

    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. Accord Mortgages Ltd, Skipton Building Society, and Barclays Direct 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 is defective they may refuse to grant the mortgage, obliging the buyer to pull out.

    I own a basement flat in Harlech, conveyancing was carried out in 2002. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Harlech with an extended lease are worth £250,000. The ground rent is £65 invoiced every year. The lease comes to an end on 21st October 2084

    With only 58 years left to run we estimate the premium for your lease extension to be between £26,600 and £30,800 as well as costs.

    The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive investigations. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.

    Other Topics

    Lease Extensions in Harlech