Fixed-fee leasehold conveyancing in Hay On Wye:

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Any conveyancing solicitor can theoretically handle your leasehold conveyancing in Hay On Wye, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Frequently asked questions relating to Hay On Wye leasehold conveyancing

There are only 62 years remaining on my lease in Hay On Wye. I need to extend my lease but my landlord is missing. What options are available to me?

On the basis that you qualify, 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 mean that your lease can be granted an extra 90 years by the Court. However, you will be required to demonstrate that you or your lawyers have done all that could be expected to track down the landlord. For most situations an enquiry agent should be helpful to carry out a search and prepare an expert document which can be used as evidence that the landlord is indeed missing. It is advisable to get professional help from a property lawyer in relation to devolving into the landlord’s disappearance and the application to the County Court covering Hay On Wye.

I have just started marketing my ground floor apartment in Hay On Wye.Conveyancing has not commenced but I have just had a quarterly service charge invoice – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should pay 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 managing agents will not acknowledge the buyer unless 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've recently bought a leasehold flat in Hay On Wye. Do I have any liability for service charges for periods before completion of my purchase?

Where the service charge has already been demanded from the previous owner 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 be sure 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 appointing a Hay On Wye conveyancing practice to deal with our lease extension?

When appointing a property lawyer for lease extension works (regardless if they are a Hay On Wye conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We suggested that you talk with two or three firms including non Hay On Wye conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be of use:

  • What volume of lease extensions have they conducted in Hay On Wye in the last 12 months?
  • Can they put you in touch with client in Hay On Wye who can give a testimonial?

    • Do you have any top tips for leasehold conveyancing in Hay On Wye with the aim of saving time on the sale process?

    • Much of the delay in leasehold conveyancing in Hay On Wye can be avoided if you appoint lawyers as soon as your agents start advertising the property and ask them to put together the leasehold information which will be required by the purchasers’ representatives.
    • If you have carried out any alterations to the property would they have required Landlord’s approval? Have you, for example laid down wooden flooring? Hay On Wye leases often stipulate that internal structural changes or installing wooden flooring necessitate a licence issued by the Landlord acquiescing to such alterations. Where you fail to have the paperwork to hand you should not contact the landlord without contacting your conveyancer in the first instance.
  • Some Hay On Wye leases require Licence to Assign from the landlord. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand bank and professional references. Any bank reference should make it clear that the buyer is 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 purchasers or their lawyers.
  • If there is a history of any disputes with your freeholder or managing agents it is essential that these are settled prior to the flat being marketed. The buyers and their solicitors will be reluctant to purchase a flat where a dispute is unsettled. You may have to bite the bullet and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is clearly preferable to reveal the dispute as historic rather than unsettled.
  • You believe that you know the number of years remaining on your lease but it would be wise to double-check via your solicitors. A buyer’s lawyer will not be happy to advise their client to where the lease term is less than 75 years. It is therefore important at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • Hay On Wye Conveyancing for Leasehold Flats - Sample of Queries Prior to buying

      Does the lease include onerous restrictions? The prefered form of lease arrangement is if the freehold reversion is owned by the leaseholders. In this arrangement the lessees enjoy control and although a managing agent is frequently employed if it is bigger than a house conversion, the managing agent employed by the leaseholders. Generally speaking the cost for major works tend not to be built into the maintenance charges, although a few managing agents in Hay On Wye obliged leasehold owners to pay into a sinking fund created for the specific purpose of building a fund for major repairs or maintenance.

    Other Topics

    Lease Extensions in Hay On Wye