Guaranteed fixed fees for Leasehold Conveyancing in Llandudno

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Recently asked questions relating to Llandudno leasehold conveyancing

I have just started marketing my basement flat in Llandudno.Conveyancing lawyers have not yet been instructed but I have just received a half-yearly service charge invoice – should I leave it to the buyer to sort out?

It best that you discharge the invoice 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.

Back In 2007, I bought a leasehold house in Llandudno. Conveyancing and HSBC Bank mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1991. The conveyancing solicitor in Llandudno who previously acted has long since retired.Any advice?

First contact the Land Registry to be sure that this person is indeed the registered owner of the freehold reversion. You do not need to instruct a Llandudno conveyancing lawyer to do this as it can be done on-line for £3. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

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

When appointing a solicitor for lease extension works (regardless if they are a Llandudno conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with several firms including non Llandudno conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be useful:

  • If the firm is not ALEP accredited then why not?
  • Can they put you in touch with client in Llandudno who can give a testimonial?

    • Can you provide any top tips for leasehold conveyancing in Llandudno with the intention of expediting the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Llandudno can be avoided where you instruct lawyers as soon as your agents start marketing the property and request that they start to put together the leasehold documentation needed by the purchasers’ representatives.
    • Many freeholders or managing agents in Llandudno charge for supplying management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management pack sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Llandudno.
  • Some Llandudno leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should notify your estate agents to make sure that the purchasers put in hand bank and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying the annual 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 actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
  • If you have had any disputes with your landlord or managing agents it is very important that these are resolved prior to the flat being put on the market. The purchasers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You will have to accept that you will have to discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is clearly preferable to present the dispute as over rather than unresolved.
  • If you are supposed to have a share in the freehold, you should ensure that you hold the original share certificate. Organising a duplicate share certificate is often a time consuming formality and frustrates many a Llandudno home move. Where a new share is necessary, do contact the company officers or managing agents (where relevant) for this at the earliest opportunity.

    • When it comes to leasehold conveyancing in Llandudno what are the most frequent lease defects?

    There is nothing unique about leasehold conveyancing in Llandudno. All leases is drafted differently and legal mistakes in the legal wording can result in certain clauses are wrong. 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 premises
    • 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 can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Leeds Building Society, and Clydesdale all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, forcing the purchaser to withdraw.

    I acquired a 1 bedroom flat in Llandudno, conveyancing formalities finalised in 2003. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Llandudno with an extended lease are worth £205,000. The ground rent is £65 invoiced every year. The lease expires on 21st October 2095

    With just 71 years left to run the likely cost is going to span between £8,600 and £9,800 as well as professional fees.

    The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.

    Other Topics

    Lease Extensions in Llandudno