Fixed-fee leasehold conveyancing in Llanelli:

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Sample questions relating to Llanelli leasehold conveyancing

Looking forward to exchange soon on a ground floor flat in Llanelli. Conveyancing solicitors assured me that they are sending me a report on Monday. What should I be looking out for?

The report on title for your leasehold conveyancing in Llanelli should include some of the following:

  • You should receive a copy of the lease
  • The total extent of the property. This will be the flat itself but could also incorporate a roof space or cellar if appropriate.
  • Setting out your legal entitlements in respect of the communal areas in the building.For instance, does the lease contain a right of way over a path or staircase?
  • You need to be told what counts as a Nuisance in the lease
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • Repair and maintenance of the flat
  • Responsibility for repairing the window frames For a comprehensive list of information to be included in your report on your leasehold property in Llanelli please enquire of your lawyer in advance of your conveyancing in Llanelli

    • I am looking at a couple of apartments in Llanelli both have in the region of 50 years remaining on the leases. Should I regard a short lease as a deal breaker?

    There are no two ways about it. A leasehold flat in Llanelli is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it adversely affects the marketability of the premises. For most buyers and mortgage companies, leases with under 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property 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 property 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 Llanelli conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend 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 any new 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.

    I've recently bought a leasehold property in Llanelli. Am I liable to pay service charges for periods before completion of my purchase?

    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. However, 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 be sure 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 offer any advice when it comes to finding a Llanelli conveyancing practice to carry out our lease extension conveyancing?

    When appointing a solicitor for lease extension works (regardless if they are a Llanelli conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with two or three firms including non Llanelli conveyancing practices prior to instructing a firm. If the firm 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 Llanelli who can give a testimonial?
  • What are the costs for lease extension work?

    • Can you provide any advice for leasehold conveyancing in Llanelli with the purpose of speeding up the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Llanelli can be reduced if you instruct lawyers as soon as your agents start advertising the property and ask them to collate the leasehold documentation needed by the buyers conveyancers.
    • The majority freeholders or managing agents in Llanelli charge for providing management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management pack sought on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Llanelli.
  • If you have carried out any alterations to the residence would they have required Landlord’s approval? In particular have you laid down wooden flooring? Most leases in Llanelli state that internal structural alterations or installing wooden flooring necessitate a licence issued by the Landlord consenting to such works. Where you fail to have the approvals to hand you should not communicate with the landlord without checking with your conveyancer before hand.
  • If you are supposed to have a share in the Management Company, you should make sure that you have the original share document. Arranging a replacement share certificate can be a time consuming formality and frustrates many a Llanelli home move. If a reissued share is necessary, do contact the company officers or managing agents (where applicable) for this at the earliest opportunity.
  • You may think that you are aware of the number of years remaining on your lease but it would be wise to double-check by asking your conveyancers. A buyer’s conveyancer will not be happy to advise their client to where the lease term is less than 80 years. It is therefore important at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • I own a garden flat in Llanelli, conveyancing having been completed 1996. How much will my lease extension cost? Comparable properties in Llanelli with an extended lease are worth £212,000. The ground rent is £65 yearly. The lease comes to an end on 21st October 2087

    With 63 years remaining on your lease the likely cost is going to be between £15,200 and £17,600 as well as plus your own and the landlord's "reasonable" professional fees.

    The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Llanelli