I am in need of some leasehold conveyancing in Lisvane. Before I get started I require certainty as to the remaining lease term.

If the lease is recorded at the land registry - and 99.9% are in Lisvane - 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 am employed by a long established estate agency in Lisvane where we have witnessed a number of leasehold sales put at risk due to leases having less than 80 years remaining. I have been given contradictory information from local Lisvane conveyancing firms. Could you confirm whether the seller of a flat can commence the lease extension formalities for the buyer?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.

An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

What are your top tips when it comes to finding a Lisvane conveyancing firm to carry out our lease extension conveyancing?

When appointing a conveyancer for lease extension works (regardless if they are a Lisvane conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We recommend that you speak with several firms including non Lisvane conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

• Can they put you in touch with client in Lisvane who can give a testimonial?

We expect to complete the disposal of our £250000 flat in Lisvane on Thursday in a week. The freeholder has quoted £348 for Certificate of Compliance, 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 Lisvane?

Lisvane conveyancing on leasehold apartments usually involves the buyer’s conveyancer sending questions for the landlord to address. Although the landlord is not legally bound to answer such questions most will be content to do so. They may invoice a reasonable administration fee for responding to questions or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is £350, in some cases it is above £800. The administration charge required by the landlord must be accompanied by a summary of entitlements and obligations in respect of administration fees, without which the charge is technically not due. Reality however dictates that one has little choice but to pay whatever is requested of you should you wish to sell the property.

Are there frequently found deficiencies that you see in leases for Lisvane properties?

Leasehold conveyancing in Lisvane is not unique. All leases is drafted differently and drafting errors can sometimes mean that certain clauses are wrong. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain parts of the premises
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Bank of Scotland, and Godiva Mortgages Ltd all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, forcing the purchaser to pull out.

Lisvane Conveyancing for Leasehold Flats - Examples of Questions you should ask Prior to Purchasing

Who is in charge of the building? How many years remain on the lease? This question is useful as a) areas could 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 managing agents you will want to have complete disclosure

Other Topics

Lease Extensions in Lisvane