I am in need of some leasehold conveyancing in Holywell. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.

If the lease is registered - and almost all are in Holywell - 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’m about to sell my 2 bed apartment in Holywell.Conveyancing solicitors are to be appointed soon but I have just received a quarterly service charge demand – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should pay 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 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've found a house that seems to meet my requirements, at a great price which is making it all the more appealing. I have since found out that the title is leasehold rather than freehold. I am assuming that there are particular concerns purchasing a leasehold house in Holywell. Conveyancing lawyers have not yet been instructed. Will they explain the issues?

The majority of houses in Holywell are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in Holywell so you should seriously consider shopping around for a Holywell conveyancing practitioner and check that they have experience in dealing with leasehold houses. First 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 requiring the landlord’sconsent to conduct alterations. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the house is part of an estate. Your lawyer should report to you on the legal implications.

I am looking at a couple of apartments in Holywell which have in the region of fifty years remaining on the leases. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold flat in Holywell is a wasting asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it reduces the value of the property. For most purchasers and mortgage companies, leases with less than 75 years become less and less marketable. 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 Holywell 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 You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. 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.

Last month I purchased a leasehold house in Holywell. Am I liable to pay service charges relating to a period prior to completion of my purchase?

In a situation 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. Strange as it may seem, 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 invested in buying a studio flat in Holywell, conveyancing was carried out 2001. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding flats in Holywell with over 90 years remaining are worth £195,000. The ground rent is £50 per annum. The lease ceases on 21st October 2083

With only 57 years unexpired we estimate the price of your lease extension to span between £21,900 and £25,200 as well as professional fees.

The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.