I only have Sixty One years remaining on my flat in Llandaff. I am keen to get lease extension but my landlord is absent. What should I do?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. However, you will be required to prove that you or your lawyers have made all reasonable attempts to track down the freeholder. In some cases an enquiry agent would be useful to carry out a search and to produce an expert document which can be accepted by the court as evidence that the freeholder is indeed missing. It is advisable to get professional help from a solicitor both on devolving into the landlord’s disappearance and the application to the County Court overseeing Llandaff.

Planning to complete next month on a garden flat in Llandaff. Conveyancing solicitors assured me that they will have a report out to me next week. What should I be looking out for?

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

• The length of the lease term You should be advised as what happens when the lease ends, and aware of the importance of not letting the lease term falling below eighty years

I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a great figure which is making it all the more appealing. I have just been informed that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns buying a leasehold house in Llandaff. Conveyancing lawyers have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Llandaff ?

Most houses in Llandaff are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Llandaff in which case you should be looking for a Llandaff conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as requiring the freeholder’sconsent to conduct changes to the property. You may also be required to pay a service charge towards the upkeep of the communal areas where the property is located on an estate. Your solicitor will report to you on the legal implications.

I am looking at a two flats in Llandaff both have about fifty years unexpired on the lease term. should I be concerned?

There is no doubt about it. A leasehold flat in Llandaff is a wasting asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it reduces the marketability of the property. For most buyers and lenders, leases with less than eighty years become less and less marketable. On a more upbeat 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 premises 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 You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. 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.

Can you offer any advice when it comes to finding a Llandaff conveyancing firm to deal with our lease extension?

When appointing a conveyancer for lease extension works (regardless if they are a Llandaff conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We advise that you make enquires with two or three firms including non Llandaff 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 of use:

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

I own a split level flat in Llandaff, conveyancing having been completed in 2004. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Llandaff with over 90 years remaining are worth £212,000. The ground rent is £60 per annum. The lease ends on 21st October 2101

With just 76 years remaining on your lease we estimate the premium for your lease extension to span between £8,600 and £9,800 plus costs.

The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.

Other Topics

Lease Extensions in Llandaff