I today plan to offer on a house that seems to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have just been informed that the title is leasehold as opposed to freehold. I would have thought that there are issues buying a house with a leasehold title in Llangefni. Conveyancing advisers have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Llangefni ?

Most houses in Llangefni are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. it is apparent that you are buying in Llangefni in which case you should be shopping around for a Llangefni conveyancing solicitor and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as requiring the landlord’spermission to conduct changes to the property. It may be necessary to pay a service charge towards the maintenance of the communal areas where the property is part of an estate. Your solicitor will appraise you on the various issues.

My wife and I purchased a leasehold house in Llangefni. Conveyancing and TSB mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1993. The conveyancing practitioner in Llangefni who previously acted has long since retired.Any advice?

First make enquiries of the Land Registry to be sure that the individual purporting to own the freehold is indeed the new freeholder. It is not necessary to instruct a Llangefni conveyancing lawyer to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

Last month I purchased a leasehold property in Llangefni. Am I liable to pay service charges for periods before my ownership?

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. However, your landlord may still be able to take action to forfeit the lease. A critical element 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).

I work for a reputable estate agency in Llangefni where we see a number of leasehold sales derailed as a result of short leases. I have received inconsistent advice from local Llangefni conveyancing solicitors. Please can you confirm whether the owner of a flat can instigate the lease extension process for the buyer?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

Can you provide any advice for leasehold conveyancing in Llangefni from the perspective of saving time on the sale process?

• Much of the frustration in leasehold conveyancing in Llangefni can be avoided where you appoint lawyers as soon as you market your property and request that they start to collate the leasehold documentation needed by the buyers representatives.
• The majority freeholders or managing agents in Llangefni levy fees for providing management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management pack sought on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Llangefni.

I am the registered owner of a studio flat in Llangefni, conveyancing having been completed half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Llangefni with over 90 years remaining are worth £174,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease finishes on 21st October 2086

You have 61 years left to run the likely cost is going to span between £20,000 and £23,000 plus professional fees.

The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.

Other Topics

Lease Extensions in Llangefni