Due to exchange soon on a studio apartment in Llandyrnog. Conveyancing solicitors assured me that they will have a report out to me next week. Are there areas in the report that I should be focusing on?

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

• The unexpired lease term You should be advised as what happens when the lease expires, and informed of the importance of the 80 year mark

I have just appointed agents to market my 2 bed flat in Llandyrnog.Conveyancing has not commenced but I have just had a yearly maintenance charge invoice – what should I do?

It best that you clear 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 unless 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 2000, I bought a leasehold house in Llandyrnog. Conveyancing and Bank of Scotland mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1993. The conveyancing solicitor in Llandyrnog who previously acted has now retired.Any advice?

The first thing you should do is make enquiries of HMLR to make sure that this person is in fact the new freeholder. It is not necessary to instruct a Llandyrnog conveyancing practitioner to do this as it can be done on-line for a few pound. Rest assured 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.

Last month I purchased a leasehold house in Llandyrnog. 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).

Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £450000 maisonette in Llandyrnog next week. The management company has quoted £360 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Llandyrnog?

Llandyrnog conveyancing on leasehold apartments normally requires the purchaser’s solicitor submitting enquiries for the landlord to answer. Although the landlord is under no legal obligation to address these enquiries most will be willing to do so. They are entitled levy a reasonable charge for responding to questions or supplying documentation. There is no set fee. The average costs for the information that you are referring to is £350, in some cases it exceeds £800. The management information fee invoiced by the landlord must be sent together with a summary of entitlements and obligations in relation to administration fees, without which the invoice is not strictly payable. In reality you have no choice but to pay whatever is requested of you if you want to exchange contracts with the buyer.

I bought a studio flat in Llandyrnog, conveyancing was carried out 3 years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Llandyrnog with an extended lease are worth £170,000. The ground rent is £55 yearly. The lease runs out on 21st October 2094

You have 69 years remaining on your lease we estimate the premium for your lease extension to span between £9,500 and £11,000 plus costs.

The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.

Other Topics

Lease Extensions in Llandyrnog