Examples of recent questions relating to leasehold conveyancing in Kidwelly
I only have 72 years unexpired on my flat in Kidwelly. I am keen to get lease extension but my landlord is missing. What are my options?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. You will be obliged to demonstrate that you have made all reasonable attempts to find the freeholder. In some cases an enquiry agent may be useful to conduct investigations and to produce a report which can be used as proof that the freeholder is indeed missing. It is wise to seek advice from a property lawyer both on proving the landlord’s absence and the vesting order request to the County Court covering Kidwelly.
I am tempted by the attractive purchase price for a two flats in Kidwelly which have about forty five years left on the lease term. Should I regard a short lease as a deal breaker?
A lease is a right to use the property for a period of time. As the lease gets shorter the marketability of the lease reduces and it becomes more expensive to extend the lease. This is why it is often a good idea to extend the lease term. More often than not it is difficult to sell a property with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We advise that you get professional help from a conveyancer and surveyor with experience in this field
Last month I purchased a leasehold flat in Kidwelly. Am I liable to pay service charges for periods before completion of my purchase?
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 be sure 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).
What advice can you give us when it comes to appointing a Kidwelly conveyancing practice to deal with our lease extension?
When appointing a conveyancer for lease extension works (regardless if they are a Kidwelly conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with two or three firms including non Kidwelly conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be useful:
- How many lease extensions have they conducted in Kidwelly in the last 12 months?
Completion in due on the sale of our £250000 apartment in Kidwelly in nine days. The landlords agents has quoted £300 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Kidwelly?
For the majority of leasehold sales in Kidwelly conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Completing pre-contract questions
- Where consent is required before sale in Kidwelly
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Kidwelly Leasehold Conveyancing - Sample of Questions you should consider Prior to Purchasing
It is important to be aware if a new roof is being put on or some other significant cost is anticipated to be shared between the leaseholders and will dramatically increase the the service charges or require a specific invoice.
What restrictions exist in the Kidwelly Lease?
How much is the ground rent and service charge?