I today plan to offer on a house that appears to meet my requirements, at a reasonable figure which is making it more attractive. I have subsequently discovered that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns buying a leasehold house in Lisvane. Conveyancing solicitors have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Lisvane ?

Most houses in Lisvane are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Lisvane so you should seriously consider looking for a Lisvane conveyancing solicitor and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example obtaining the freeholder’sconsent to conduct alterations. You may also be required to pay a contribution towards the maintenance of the estate where the property is located on an estate. Your solicitor should report to you on the legal implications.

My wife and I purchased a leasehold flat in Lisvane. Conveyancing and Norwich and Peterborough Building Society mortgage went though with no issue. I have received a letter from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1991. The conveyancing solicitor in Lisvane who acted for me is not around.Any advice?

First contact the Land Registry to be sure that the individual purporting to own the freehold is indeed the new freeholder. There is no need to incur the fees of a Lisvane conveyancing lawyer to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am attracted to a two maisonettes in Lisvane both have approximately fifty years unexpired on the leases. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Lisvane. The lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease shortens the saleability of the lease deteriorate and it becomes more costly to acquire a lease extension. This is why it is advisable to extend the lease term. Sometimes it is difficult to sell a property with a short lease because mortgage companies may be unwilling to lend money on properties of this type. Lease extension can be a protracted process. We recommend you seek professional help from a conveyancer and surveyor with experience in this arena

Last month I purchased a leasehold property in Lisvane. Do I have any liability for service charges relating to a period prior to completion of my purchase?

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. 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).

All being well we will complete the disposal of our £250000 flat in Lisvane on Wednesday in a week. The landlords agents has quoted £420 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Lisvane?

Lisvane conveyancing on leasehold flats often necessitates the buyer’s conveyancer submitting questions for the landlord to answer. Although the landlord is under no legal obligation to respond to these enquiries the majority will be content to assist. They may levy a reasonable charge for responding to questions or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is £350, in some transactions it exceeds £800. The administration charge required by the landlord must be accompanied by a summary of rights and obligations in respect of administration fees, otherwise the invoice is not strictly payable. In reality one has little choice but to pay whatever is requested of you should you wish to complete the sale of your home.

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

The answer will be important as a) areas can result in problems in the block as the communal areas may begin to deteriorate if maintenance are not paid for b) if the leasehold owners have an issue with the managing agents you will want to know about it How many years are left on the lease? If a Lisvane lease has less than 80 years it will affect the value of the flat. Check with your mortgage company that they are content with residual term of the lease. A short lease means that you will probably have to extend the lease sooner rather than later and you need to have some idea of how much this will be. Remember, in most cases you would need to own the premises for a couple of years before you are eligible to extend the lease.

Other Topics

Lease Extensions in Lisvane