Back In 2001, I bought a leasehold flat in Hengoed. Conveyancing and TSB mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1998. The conveyancing solicitor in Hengoed who previously acted has long since retired.Any advice?

First contact the Land Registry to make sure that the individual purporting to own the freehold is in fact the new freeholder. It is not necessary to incur the fees of a Hengoed conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am looking at a two flats in Hengoed both have approximately 50 years remaining on the lease term. should I 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 period of time. As the lease gets shorter the marketability of the lease reduces and results in it becoming more expensive to acquire a lease extension. This is why it is often a good idea to increase the term of the lease. It is often difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease extension can be a protracted process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this field

What are your top tips when it comes to choosing a Hengoed conveyancing firm to deal with our lease extension?

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 advise that you talk with several firms including non Hengoed conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be of use:

• Can they put you in touch with client in Hengoed who can give a testimonial?

Can you provide any top tips for leasehold conveyancing in Hengoed with the purpose of speeding up the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Hengoed can be bypassed where you get in touch lawyers as soon as your agents start advertising the property and ask them to collate the leasehold documentation which will be required by the buyers conveyancers.
• The majority freeholders or Management Companies in Hengoed levy fees for providing management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most common cause of delay in leasehold conveyancing in Hengoed.

We expect to complete the disposal of our £375000 garden flat in Hengoed in just under a week. The managing agents has quoted £396 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Hengoed?

Hengoed conveyancing on leasehold apartments more often than not requires the buyer’s conveyancer sending enquiries for the landlord to address. Although the landlord is under no legal obligation to address such questions most will be content to do so. They are entitled invoice a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is over three hundred pounds, in some transactions it is above £800. The management information fee demanded by the landlord must be sent together with a synopsis of rights and obligations in relation to administration charges, without which the charge is technically not due. In reality you have little option but to pay whatever is requested of you should you wish to exchange contracts with the buyer.

I bought a basement flat in Hengoed, conveyancing formalities finalised 2002. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Hengoed with a long lease are worth £225,000. The ground rent is £60 charged once a year. The lease expires on 21st October 2100

With 75 years left to run we estimate the premium for your lease extension to be between £7,600 and £8,800 as well as costs.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more comprehensive investigations. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.

Other Topics

Lease Extensions in Hengoed