Fixed-fee leasehold conveyancing in Hirwaun:

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Common questions relating to Hirwaun leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Hirwaun. Before I get started I would like to find out the unexpired term of the lease.

Assuming the lease is registered - and 99.9% are in Hirwaun - 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.

Having checked my lease I have discovered that there are only 72 years remaining on my lease in Hirwaun. I now want to get lease extension but my landlord is can not be found. What options are available to me?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. However, you will be required to prove that you have made all reasonable attempts to locate the freeholder. On the whole an enquiry agent would be helpful to try and locate and prepare a report to be used as evidence that the freeholder is indeed missing. It is advisable to get professional help from a property lawyer both on investigating the landlord’s disappearance and the vesting order request to the County Court covering Hirwaun.

I today plan to offer on a house that appears to tick a lot of boxes, at a reasonable price which is making it more attractive. I have just found out that it's a leasehold rather than freehold. I would have thought that there are issues buying a leasehold house in Hirwaun. Conveyancing lawyers have are soon to be instructed. Will they explain the issues?

The majority of houses in Hirwaun are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Hirwaun in which case you should be shopping around for a Hirwaun conveyancing solicitor and check that they are used to transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as requiring the landlord’spermission to carry out changes to the property. You may also be required to pay a service charge towards the upkeep of the estate where the house is located on an estate. Your conveyancer will advise you fully on all the issues.

I am tempted by the attractive purchase price for a two maisonettes in Hirwaun which have approximately 50 years remaining on the leases. Should I regard a short lease as a deal breaker?

A lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease gets shorter the value of the lease deteriorate and it becomes more costly to acquire a lease extension. For this reason it is often a good idea to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease as mortgage companies may be reluctant to lend money on such properties. Lease extension can be a protracted process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this field

Can you provide any top tips for leasehold conveyancing in Hirwaun from the perspective of saving time on the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Hirwaun can be bypassed where you instruct lawyers the minute your agents start marketing the property and ask them to collate the leasehold information which will be required by the purchasers’ solicitors.
  • The majority freeholders or Management Companies in Hirwaun charge for supplying management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management information sought 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 reason for delay in leasehold conveyancing in Hirwaun.
  • A minority of Hirwaun leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their solicitors.
  • If you have had conflict with your landlord or managing agents it is essential that these are resolved before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You may have to bite the bullet and pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is clearly preferable to reveal the dispute as historic as opposed to unresolved.
  • You believe that you know the number of years remaining on your lease but it would be wise to verify this by asking your conveyancers. A buyer’s conveyancer will be unlikely to recommend their client to where the remaining number of years is less than 80 years. In the circumstances it is important at an early stage that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

    • I own a studio flat in Hirwaun, conveyancing formalities finalised half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Hirwaun with over 90 years remaining are worth £166,000. The ground rent is £50 levied per year. The lease ceases on 21st October 2081

    With 56 years left to run we estimate the premium for your lease extension to be between £23,800 and £27,400 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 provide a more accurate figure without more comprehensive investigations. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Hirwaun