Leasehold Conveyancing in Lampeter - Get a Quote from the leasehold experts approved by your lender

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Top Five Questions relating to Lampeter leasehold conveyancing

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

Assuming the lease is registered - and 99.9% are in Lampeter - 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 have recently realised that I have 68 years remaining on my flat in Lampeter. I am keen to get lease extension but my freeholder is absent. What options are available to me?

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 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 demonstrate that you or your lawyers have used your best endeavours to find the freeholder. In some cases an enquiry agent may be useful to carry out a search and to produce a report to be used as proof that the freeholder can not be located. It is wise to seek advice from a conveyancer in relation to devolving into the landlord’s absence and the application to the County Court covering Lampeter.

I’m about to sell my garden apartment in Lampeter.Conveyancing is yet to be initiated but I have just received a quarterly maintenance charge invoice – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should clear 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 management companies will not acknowledge the buyer unless 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.

Last month I purchased a leasehold property in Lampeter. Do I have any liability for service charges relating to a period prior to my ownership?

Where the service charge has already been demanded from the previous lessee 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. A critical element 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).

What are your top tips when it comes to appointing a Lampeter conveyancing practice to carry out our lease extension conveyancing?

When appointing a conveyancer for your lease extension (regardless if they are a Lampeter conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with several firms including non Lampeter 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 useful:

  • What volume of lease extensions have they carried out in Lampeter in the last year?
  • Can they put you in touch with client in Lampeter who can give a testimonial?

  • Lampeter Conveyancing for Leasehold Flats - Examples of Queries Prior to Purchasing

      What is the maintenance charge and ground rent on the property? This question is important as a) areas may result in problems for the building as the common areas may start to deteriorate where maintenance remain unpaid b) if the leaseholders have a dispute with the running of the building you will need to know about it Where a Lampeter lease has less than eighty years it will impact the value of the flat. It is worth checking with your bank that they are happy with the length of the lease. A short lease means that you will probably have to extend the lease sooner rather than later and it is worth finding out how much this would cost. For most Lampeterlease extensions you would be be obliged to have owned the property for two years in order to be eligible to exercise a lease extension.

    Other Topics

    Lease Extensions in Lampeter