I only have Sixty One years remaining on my lease in Llangammarch Wells. I need to extend my lease but my landlord is absent. What options are available to me?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. However, you will be required to demonstrate that you or your lawyers have used your best endeavours to find the freeholder. In some cases an enquiry agent would be useful to carry out a search and prepare a report which can be used as proof that the landlord can not be located. It is wise to seek advice from a solicitor both on proving the landlord’s absence and the vesting order request to the County Court covering Llangammarch Wells.

Estate agents have just been given the go-ahead to market my basement apartment in Llangammarch Wells.Conveyancing is yet to be initiated but I have just had a half-yearly service charge demand – what should I do?

Your conveyancing lawyer is likely to suggest that you should clear the service charge 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 managing agents 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.

I am tempted by the attractive purchase price for a couple of apartments in Llangammarch Wells which have in the region of 50 years remaining on the lease term. Will this present a problem?

A lease is a right to use the property for a period of time. As the lease gets shorter the value of the lease reduces and results in it becoming more expensive to acquire a lease extension. This is why it is often a good idea to extend the lease term. It is often difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a difficult process. We advise that you get professional assistance from a solicitor and surveyor with experience in this field

Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £125000 apartment in Llangammarch Wells next Friday . The landlords agents has quoted £348 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Llangammarch Wells?

Llangammarch Wells conveyancing on leasehold maisonettes normally necessitates the buyer’s lawyer sending enquiries for the landlord to answer. Although the landlord is not legally bound to address such questions the majority will be content to do so. They may charge a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average costs for the information that you are referring to is over three hundred pounds, in some transactions it is above £800. The management information fee levied by the landlord must be sent together with a summary of entitlements and obligations in relation to administration fees, otherwise the charge is not strictly payable. Reality however dictates that you have no choice but to pay whatever is demanded should you wish to exchange contracts with the buyer.

When it comes to leasehold conveyancing in Llangammarch Wells what are the most common lease defects?

Leasehold conveyancing in Llangammarch Wells is not unique. Most leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain clauses are not included. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain elements of the building
• Insurance obligations
• 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 problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. National Westminster Bank, Chelsea Building Society, and Bank of Ireland all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, obliging the buyer to pull out.

I inherited a leasehold flat in Llangammarch Wells, conveyancing having been completed in 2009. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Llangammarch Wells with an extended lease are worth £268,000. The average or mid-range amount of ground rent is £45 yearly. The lease ceases on 21st October 2101

With only 76 years unexpired we estimate the premium for your lease extension to range between £13,300 and £15,400 as well as professional fees.

The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide the actual costs without more comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.

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Lease Extensions in Llangammarch Wells