Expecting to sign contracts shortly on a basement flat in Hengoed. Conveyancing solicitors inform me that they report fully next week. What should I be looking out for?

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

• Setting out your rights in relation to the communal areas in the block.By way of example, does the lease include a right of way over a path or hallways?
• 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 reserve fund?
• You should have a good understanding of the insurance provisions
• Repair and maintenance of the flat
• Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
• What you can do if a neighbour is in violation of a provision in their lease?

I’m about to sell my garden apartment in Hengoed.Conveyancing has not commenced but I have just had a yearly maintenance charge demand – what should I do?

The sensible thing to do is discharge the service charge 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 management companies 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 since discovered that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Hengoed. Conveyancing lawyers have not yet been appointed. 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 conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Hengoed so you should seriously consider looking 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. As a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example obtaining the freeholder’spermission to carry out alterations. It may be necessary to pay a contribution towards the maintenance of the estate where the property is located on an estate. Your lawyer should advise you fully on all the issues.

I am looking at a two apartments in Hengoed both have approximately fifty years left on the lease term. should I be concerned?

There are no two ways about it. A leasehold apartment in Hengoed is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it reduces the marketability of the property. The majority of purchasers and mortgage companies, leases with under 75 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 premises 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 premises 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. More often than not it is possible to negotiate informally with the freeholder to extend the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed 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've recently bought a leasehold house 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 lessee 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. A critical element 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).

Leasehold Conveyancing in Hengoed - Sample of Questions you should consider before buying

How long is the Lease? Be sure to find out if there are any onerous restrictions in the lease. For example it is fairly common in Hengoed leases that pets are not allowed in in a block in Hengoed. If you love the flatin Hengoed yet your dog is not allowed to make the move with you then you will be presented with a difficult choice.