Expecting to complete next month on a ground floor flat in Lisvane. Conveyancing lawyers have said that they report fully tomorrow. What should I be looking out for?

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

• You should be sent a copy of the lease

The total extent of the property. This will be the apartment itself but might incorporate a roof space or cellar if appropriate.

Whether the lease restricts you from letting out the property, or working from home

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

You should have a good understanding of the insurance provisions

Repair and maintenance of the flat

What options are open to you if a neighbour breach a clause of their lease? For details of the information to be included in your report on your leasehold property in Lisvane please enquire of your solicitor in advance of your conveyancing in Lisvane

Estate agents have just been given the go-ahead to market my ground floor apartment in Lisvane.Conveyancing lawyers have not yet been instructed but I have just had a yearly maintenance charge invoice – what should I do?

It best that you 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.

I am looking at a couple of flats in Lisvane both have approximately 50 years remaining on the leases. Do I need to be concerned?

A lease is a right to use the property for a prescribed time frame. As the lease gets shorter the saleability of the lease reduces and it becomes more expensive to acquire a lease extension. For this reason it is often a good idea to increase the term of the lease. More often than not 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 difficult process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this field

What advice can you give us when it comes to choosing a Lisvane conveyancing practice to carry out our lease extension conveyancing?

When appointing a property lawyer for lease extension works (regardless if they are a Lisvane conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with two or three firms including non Lisvane conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

• How familiar is the practice with lease extension legislation?

If they are not ALEP accredited then what is the reason?

If all goes to plan we aim to complete the sale of our £425000 maisonette in Lisvane on Friday in a week. The management company has quoted £324 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Lisvane?

Lisvane conveyancing on leasehold flats normally results in administration charges raised by management companies :

• Completing pre-contract enquiries
• Where consent is required before sale in Lisvane
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Lisvane leasehold property is £350. For Lisvane conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to provide answers.

I bought a leasehold flat in Lisvane, conveyancing was carried out in 1996. How much will my lease extension cost? Comparable flats in Lisvane with a long lease are worth £184,000. The ground rent is £65 charged once a year. The lease ends on 21st October 2092

With 68 years unexpired we estimate the premium for your lease extension to range between £12,400 and £14,200 plus costs.

The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns 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.

Other Topics

Lease Extensions in Lisvane