Fixed-fee leasehold conveyancing in Llandaff:

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Frequently asked questions relating to Llandaff leasehold conveyancing

I have just appointed agents to market my ground floor apartment in Llandaff.Conveyancing is yet to be initiated but I have just had a yearly service charge demand – Do I pay up?

The sensible thing to do is discharge 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 until 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. Having a clear account will assist your cause and will leave you no worse off financially.

I today plan to offer on a house that seems to tick a lot of boxes, at a great price which is making it all the more appealing. I have just found out that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns buying a leasehold house in Llandaff. Conveyancing solicitors have are about to be instructed. Will they explain the issues?

Most houses in Llandaff are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. It is clear that you are buying in Llandaff in which case you should be shopping around for a Llandaff conveyancing solicitor and be sure that they are used to transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’spermission to conduct changes to the property. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the property is located on an estate. Your solicitor should advise you fully on all the issues.

I am looking at a couple of flats in Llandaff which have about forty five years unexpired on the lease term. Will this present a problem?

A lease is a right to use the premises for a period of time. As a lease gets shorter the value of the lease reduces and it becomes more expensive to extend the lease. For this reason it is often a good idea to extend the lease term. Sometimes it is difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease extension can be a protracted process. We recommend you get professional assistance from a solicitor and surveyor with experience in this field

I've recently bought a leasehold house in Llandaff. Am I liable to pay service charges for periods before my ownership?

In a situation where the service charge has already been demanded from the previous owner 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 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).

Can you provide any advice for leasehold conveyancing in Llandaff with the intention of speeding up the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Llandaff can be reduced if you get in touch lawyers the minute you market your property and request that they start to collate the leasehold information which will be required by the purchasers’ lawyers.
  • Many freeholders or Management Companies in Llandaff charge for providing management packs for a leasehold premises. You or your lawyers should enquire as to the fee that they propose to charge. The management information sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Llandaff.
  • If you have carried out any alterations to the residence would they have required Landlord’s approval? Have you, for example installed wooden flooring? Most leases in Llandaff state that internal structural alterations or installing wooden flooring require a licence issued by the Landlord acquiescing to such works. Where you dont have the consents in place do not contact the landlord without checking with your conveyancer before hand.
  • A minority of Llandaff leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers put in hand bank and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their lawyers.
  • You may think that you are aware of the number of years left on your lease but it would be advisable double-check via your solicitors. A buyer’s conveyancer will not be happy to advise their client to to exchange contracts if the remaining number of years is less than 75 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • Llandaff Leasehold Conveyancing - Examples of Questions you should consider before Purchasing

      Its a good idea to find out as much as you can about the managing agents as they will either make life much simpler or uncomfortable. Being a leasehold owner you are often at the mercy of the managing agents both financially and when it comes to daily issues such as the upkeep of the common parts. Ask prospective neighbours what they think of their service. In conclusion, find out the dates that you are obliged pay the service charge to the relevant party and specifically what it includes. The answer will be important as a) areas could cause problems in the block as the common areas may begin to deteriorate if repairs remain unpaid b) if the tenants have a dispute with the managing agents you will need to have complete disclosure Is the freehold owned jointly by the tenants?

    Other Topics

    Lease Extensions in Llandaff