Having had my offer accepted I require leasehold conveyancing in Kidwelly. Before I get started I want to be sure as to the unexpired term of the lease.

If the lease is registered - and 99.9% are in Kidwelly - then the leasehold title will always include the basic details 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 have recently realised that I have 62 years remaining on my lease in Kidwelly. I now wish to get lease extension but my landlord is absent. What are my options?

On the basis that 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 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 Court. You will be obliged to demonstrate that you have done all that could be expected to track down the landlord. In some cases an enquiry agent would be helpful to carry out a search and to produce a report which can be accepted by the court as evidence that the freeholder can not be located. It is wise to seek advice from a property lawyer in relation to proving the landlord’s absence and the application to the County Court covering Kidwelly.

Expecting to exchange soon on a basement flat in Kidwelly. Conveyancing solicitors assured me that they are sending me a report on Monday. What should I be looking out for?

Your report on title for your leasehold conveyancing in Kidwelly should include some of the following:

• The total extent of the premises. This will be the flat itself but might include a roof space or basement if appropriate.
• Setting out your rights in relation to the communal areas in the block.For instance, does the lease contain a right of way over a path or hallways?
• Does the lease prevent you from subletting the flat, or having a home office for business
• 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
• Changes to the flat (alterations and additions)
• The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
• What the implications are if you breach a clause of your lease?

I’m about to sell my 2 bed flat in Kidwelly.Conveyancing lawyers have not yet been instructed but I have just had a quarterly maintenance charge invoice – what should I do?

The sensible thing to do is pay the invoice 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 am attracted to a couple of maisonettes in Kidwelly which have about fifty years remaining on the leases. Will this present a problem?

There are no two ways about it. A leasehold apartment in Kidwelly is a wasting asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it reduces the value of the property. For most purchasers and banks, leases with less than 75 years become less and less attractive. On a more positive 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 a residence 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 Kidwelly conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending 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 any new 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.

Kidwelly Leasehold Conveyancing - Sample of Questions you should ask Prior to Purchasing

Who is in charge of the building? It is important to be aware if a new roof is being installed or some other major work is anticipated to be shared by the leaseholders and will materially increase the the service charges or result in a one off payment.