Common questions relating to Hengoed leasehold conveyancing
Harry (my fiance) and I may need to sub-let our Hengoed ground floor flat for a while due to taking a sabbatical. We used a Hengoed conveyancing practice in 2003 but they have since shut and we did not have the foresight to get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
Even though your last Hengoed conveyancing lawyer is not available you can review your lease to check if you are permitted to let out the apartment. The rule is that if the deeds are silent, subletting is permitted. There may be a precondition that you are obliged to seek consent from your landlord or some other party in advance of subletting. This means you not allowed to sublet in the absence of first obtaining consent. The consent must not not be unreasonably turned down. If the lease prohibits you from subletting the property you should ask your landlord for their consent.
Looking forward to sign contracts shortly on a garden flat in Hengoed. Conveyancing lawyers inform me that they will have a report out to me within the next couple of days. What should I be looking out for?
Your report on title for your leasehold conveyancing in Hengoed should include some of the following:
- You should be sent a copy of the lease
I've recently bought a leasehold property in Hengoed. Am I liable to pay service charges relating to a period prior to my ownership?
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. However, 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 ensure 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).
I am a negotiator for a long established estate agent office in Hengoed where we see a number of flat sales jeopardised as a result of short leases. I have received inconsistent advice from local Hengoed conveyancing firms. Could you clarify whether the owner of a flat can start the lease extension process for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.
An alternative approach is 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 purchaser.
What are your top tips when it comes to finding a Hengoed conveyancing firm to carry out our lease extension conveyancing?
When appointing a conveyancer for lease extension works (regardless if they are a Hengoed conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with several firms including non Hengoed conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be useful:
- If they are not ALEP accredited then what is the reason?
Hengoed Leasehold Conveyancing - A selection of Questions you should ask Prior to Purchasing
Where a Hengoed lease has no more than eighty years it will impact the salability of the property. Check with your mortgage company that they are happy with the length of the lease. A short lease means that you will almost definitely have to extend the lease at some point and it is worth finding out how much this would cost. Remember, in most cases you would need to own the residence for 24 months in order to be legally able to extend the lease.
The best form of lease arrangement is a share of the freehold. In this arrangement the lessees benefit from control and even though a managing agent is frequently retained where the building is bigger than a house conversion, the managing agent employed by the leaseholders.
The majority of Hengoed leasehold apartments will have a service bill for the upkeep of the block levied on behalf of the management company. If you purchase the flat you will have to pay this amount, normally quarterly accross the year. This could differ from a couple of hundred pounds to thousands of pounds for blocks with lifts and large communal areas. In all probability there will be a ground rent for you to pay annual, this is usually not a large figure, say approximately £50-£100 but you need to enquire as occasionally it could be many hundreds of pounds.