Common questions relating to Hengoed leasehold conveyancing
I am in need of some leasehold conveyancing in Hengoed. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.
Assuming the lease is recorded at the land registry - and almost all are in Hengoed - 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.
I have just started marketing my garden flat in Hengoed.Conveyancing solicitors are to be appointed soon but I have just had a quarterly maintenance charge demand – Do I pay up?
It best that you clear 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. Having a clear account will assist your cause and will leave you no worse off financially.
I today plan to offer on a house that appears to meet my requirements, at a great figure which is making it all the more appealing. I have since been informed that the title is leasehold as opposed to freehold. I would have thought that there are issues buying a house with a leasehold title in Hengoed. Conveyancing lawyers have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Hengoed ?
The majority of houses in Hengoed are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are buying 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. As a matter of priority you will need to check the unexpired lease term. Being a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example requiring the landlord’spermission to conduct changes to the property. It may be necessary to pay a service charge towards the upkeep of the communal areas where the property is located on an estate. Your lawyer should advise you fully on all the issues.
I am attracted to a couple of flats in Hengoed which have in the region of forty five years left on the leases. Do I need to be concerned?
There are plenty of short leases in Hengoed. The lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease gets shorter the value of the lease decreases and it becomes more expensive to extend the lease. This is why it is often a good idea to increase the term of the lease. It is often difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We advise that you seek professional help from a conveyancer and surveyor with experience in this area
What advice can you give us when it comes to choosing a Hengoed conveyancing firm to deal with our lease extension?
When appointing a conveyancer for your lease extension (regardless if they are a Hengoed conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We advise that you make enquires with two or three firms including non Hengoed conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be of use:
- How experienced is the practice with lease extension legislation?
Hengoed Leasehold Conveyancing - Examples of Questions you should consider Prior to buying
It is important to be aware whether window replacement or some other significant cost is due in the foreseeable future that will be shared by the leasehold owners and may well dramatically increase the the maintenance charges or necessitate a specific invoice.
Be sure to discover if there is anything that is prohibited in the lease. By way of example some leases prohibit pets being permitted in in a block in Hengoed. If you love the propertyin Hengoed however your dog can’t live with you then you will be presented with a hard choice.
The best form of lease arrangement is a share of the freehold. In this situation the lessees enjoy being in charge if their destiny and although a managing agent is frequently retained if the building is larger than a house conversion, the managing agent acts for the leaseholders themselves.