Leasehold Conveyancing in Llanfairfechan - Get a Quote from the leasehold experts approved by your lender

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Whether you are buying or selling leasehold flat in Llanfairfechan, our panel of leasehold conveyancing experts will help you move with as little stress as possible. Find a Llanfairfechan conveyancing lawyer with our search tool

Frequently asked questions relating to Llanfairfechan leasehold conveyancing

I am in need of some leasehold conveyancing in Llanfairfechan. Before diving in I would like to find out the remaining lease term.

Assuming the lease is recorded at the land registry - and almost all are in Llanfairfechan - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

Expecting to complete next month on a studio apartment in Llanfairfechan. Conveyancing lawyers 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 Llanfairfechan should include some of the following:

  • You should be sent a copy of the lease
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • The total extent of the property. This will be the apartment itself but could also incorporate a roof space or basement if applicable.
  • 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
  • You should have a good understanding of the insurance provisions
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be contained in your report on your leasehold property in Llanfairfechan please ask your lawyer in ahead of your conveyancing in Llanfairfechan

    • I own a leasehold house in Llanfairfechan. Conveyancing and National Westminster Bank mortgage organised. 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 1995. The conveyancing practitioner in Llanfairfechan who previously acted has long since retired.What should I do?

    The first thing you should do is make enquiries of the Land Registry to make sure that this person is in fact the registered owner of the freehold reversion. There is no need to incur the fees of a Llanfairfechan conveyancing firm to do this as you can do this on the Land Registry website for £3. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

    I am attracted to a couple of apartments in Llanfairfechan which have about 50 years remaining on the lease term. Will this present a problem?

    There are plenty of short leases in Llanfairfechan. The lease is a legal document that entitles you to use the property for a period of time. As a lease shortens the saleability of the lease decreases and results in it becoming more costly to acquire a lease extension. This is why it is generally wise to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders may be unwilling to lend money on properties of this type. Lease extension can be a protracted process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this arena

    Last month I purchased a leasehold house in Llanfairfechan. Do I have any liability for service charges for periods before my ownership?

    In a situation where the service charge has already been demanded from the previous lessee 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 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).

    Llanfairfechan Conveyancing for Leasehold Flats - A selection of Questions you should consider Prior to Purchasing

      Plenty Llanfairfechan leasehold flats will be liable to pay a service charge for the upkeep of the block invoiced by the freeholder. Where you buy the property you will have to pay this charge, usually periodically accross the year. This could be anything from two or three hundred pounds to thousands of pounds for bigger purpose-built blocks. In all likelihood there will be a ground rent for you to pay yearly, ordinarily this is not a significant amount, say approximately £25-£75 but you need to check as occasionally it could be many hundreds of pounds. How is the lease structured? Are any of leasehold owners in arrears of their service charge payments?

    Other Topics

    Lease Extensions in Llanfairfechan