Fixed-fee leasehold conveyancing in Hengoed:

Leasehold conveyancing in Hengoed is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Hengoed and across next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Top Five Questions relating to Hengoed leasehold conveyancing

Planning to complete next month on a ground floor flat in Hengoed. Conveyancing lawyers assured me that they are sending me a report within the next couple of days. What should I be looking out for?

The report on title for your leasehold conveyancing in Hengoed should include some of the following:

  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
  • Do you need to have carpet in the flat or are you allowed wood flooring?
  • Whether the lease restricts you from subletting the flat, or having a home office for business
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • You should have a good understanding of the insurance provisions
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
  • What the implications are if you breach a clause of your lease? For details of the information to be contained in your report on your leasehold property in Hengoed please enquire of your solicitor in advance of your conveyancing in Hengoed

  • I have just started marketing my ground floor apartment in Hengoed.Conveyancing solicitors are to be appointed soon but I have just received a half-yearly maintenance charge demand – should I leave it to the buyer to sort out?

    It best that you 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 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've found a house that seems to tick a lot of boxes, at a great price which is making it all the more appealing. I have just been informed that it's a leasehold as opposed to freehold. I would have thought that there are issues buying a house with a leasehold title in Hengoed. Conveyancing advisers have not yet been instructed. Will they explain the issues?

    The majority of houses in Hengoed are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in Hengoed in which case you should be shopping around for a Hengoed conveyancing solicitor and check that they are used to advising on leasehold houses. First you will need to check the number of years remaining. As a tenant you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as obtaining the landlord’spermission to conduct alterations. You may also be required to pay a maintenance charge towards the maintenance of the estate where the house is part of an estate. Your lawyer will appraise you on the various issues.

    I am tempted by the attractive purchase price for a two apartments in Hengoed which have about forty five years left on the leases. Do I need to be concerned?

    There are no two ways about it. A leasehold flat in Hengoed is a deteriorating asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it adversely affects the value of the property. For most purchasers and lenders, leases with less than eighty years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Hengoed conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

    I am employed by a long established estate agent office in Hengoed where we have witnessed a few flat sales derailed due to short leases. I have received inconsistent advice from local Hengoed conveyancing solicitors. Can you shed some light as to whether the seller of a flat can initiate the lease extension process for the buyer?

    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 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.

    Leasehold Conveyancing in Hengoed - A selection of Questions you should ask before buying

      The answer will be useful as a) areas could result in problems in the building as the communal areas may start to deteriorate if services remain unpaid b) if the leasehold owners have a dispute with the running of the building you will need to know about it Its a good idea to discover as much as possible about the managing agents as they will either make your living at the property much simpler or problematic. Being a leasehold owner you will be in the clutches of the managing agents from a financial perspective and when it comes to every day matters such as the tidiness of the communal areas. Ask other tenants whether they are happy with their management. On a final note, investigate as to the dates that you are obliged pay the service charge to the appropriate party and precisely how they are spending that money. Does the lease have in excess of 90 years remaining?

    Other Topics

    Lease Extensions in Hengoed