Fixed-fee leasehold conveyancing in Llandaff:

While any conveyancing solicitor can theoretically deal with your leasehold conveyancing in Llandaff, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Top Five Questions relating to Llandaff leasehold conveyancing

I own a leasehold flat in Llandaff. Conveyancing and Skipton Building Society mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1998. The conveyancing practitioner in Llandaff who acted for me is not around.Any advice?

The first thing you should do is contact HMLR to make sure that this person is in fact the new freeholder. It is not necessary to instruct a Llandaff conveyancing lawyer to do this as it can be done on-line for less than a fiver. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am employed by a reputable estate agency in Llandaff where we have experienced a number of flat sales jeopardised due to leases having less than 80 years remaining. I have received inconsistent advice from local Llandaff conveyancing solicitors. Please can you shed some light as to whether the vendor of a flat can commence the lease extension process for the buyer?

Provided that the seller has been the owner 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 wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.

Alternatively, it may be possible 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 appointing a Llandaff conveyancing firm to deal with our lease extension?

When appointing a solicitor for lease extension works (regardless if they are a Llandaff conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you talk with several firms including non Llandaff conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be of use:

  • How experienced is the firm with lease extension legislation?
  • If they are not ALEP accredited then why not?

  • Completion in due on the sale of our £200000 maisonette in Llandaff in just under a week. The managing agents has quoted £360 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in Llandaff?

    For most leasehold sales in Llandaff conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

    • Answering pre-contract enquiries
    • Where consent is required before sale in Llandaff
    • Copies of the building insurance and schedule
    • Deeds of covenant upon sale
    • Registering of the assignment of the change of lessee after a sale
    Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Llandaff leasehold premises is £350. For Llandaff conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to provide the information.

    What makes a Llandaff lease unmortgageable?

    Leasehold conveyancing in Llandaff is not unique. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:

    • A provision to repair to or maintain elements of the building
    • A duty to insure the building
    • A provision for the recovery of money spent for the benefit of another party.
    • Service charge per centages that don't add up correctly leaving a shortfall

    You could encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , Leeds Building Society, and Barclays Direct all have express conveyancing instructions 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 provide security, obliging the buyer to withdraw.

    I purchased a split level flat in Llandaff, conveyancing formalities finalised in 1997. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Llandaff with over 90 years remaining are worth £185,000. The ground rent is £45 levied per year. The lease comes to an end on 21st October 2081

    With just 57 years remaining on your lease we estimate the price of your lease extension to range between £28,500 and £33,000 as well as costs.

    The figure above a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Llandaff