Having had my offer accepted I require leasehold conveyancing in Llandaff. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.

Assuming the lease is recorded at the land registry - and most are in Llandaff - 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 would like to rent out my leasehold flat in Llandaff. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?

Even though your previous Llandaff conveyancing solicitor is no longer available you can review your lease to see if it allows you to sublet the property. The accepted inference is that if the lease is non-specific, subletting is permitted. Quite often there is a prerequisite that you need to obtain consent from your landlord or some other party in advance of subletting. The net result is you not allowed to sublet in the absence of first obtaining consent. Such consent must not not be unreasonably withheld. If your lease prohibits you from letting out the property you should ask your landlord for their consent.

I have recently realised that I have 62 years unexpired on my lease in Llandaff. I need to get lease extension but my freeholder is can not be found. What should I do?

On the basis that you qualify, 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 used your best endeavours to find the landlord. In some cases an enquiry agent may be helpful to try and locate and prepare an expert document which can be used as evidence that the freeholder is indeed missing. It is advisable to get professional help from a solicitor both on proving the landlord’s absence and the application to the County Court overseeing Llandaff.

I am tempted by the attractive purchase price for a couple of flats in Llandaff which have approximately fifty years remaining on the lease term. Will this present a problem?

There is no doubt about it. A leasehold apartment in Llandaff is a wasting asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it reduces the value of the premises. For most purchasers and lenders, leases with under 75 years become less and less marketable. 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 property 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 Llandaff 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 They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed 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.

What makes a Llandaff lease unmortgageable?

Leasehold conveyancing in Llandaff is not unique. Most leases is drafted differently and drafting errors can sometimes mean that certain sections are missing. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain elements of the property
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, The Mortgage Works, and Aldermore all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the buyer to withdraw.

I purchased a studio flat in Llandaff, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Llandaff with an extended lease are worth £213,000. The average or mid-range amount of ground rent is £55 levied per year. The lease ends on 21st October 2101

With only 76 years remaining on your lease we estimate the price of your lease extension to be between £9,500 and £11,000 as well as legals.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.

Other Topics

Lease Extensions in Llandaff