Fixed-fee leasehold conveyancing in Llangollen:

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Examples of recent questions relating to leasehold conveyancing in Llangollen

I today plan to offer on a house that appears to be perfect, at a reasonable figure which is making it more attractive. I have since found out that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a leasehold house in Llangollen. Conveyancing lawyers have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Llangollen ?

Most houses in Llangollen are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in Llangollen in which case you should be looking for a Llangollen conveyancing practitioner and check that they are used to advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a lessee you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’sconsent to conduct alterations. It may be necessary to pay a maintenance charge towards the maintenance of the estate where the house is part of an estate. Your conveyancer will report to you on the legal implications.

I've recently bought a leasehold house in Llangollen. 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 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. 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).

I work for a busy estate agency in Llangollen where we see a few flat sales jeopardised as a result of leases having less than 80 years remaining. I have received contradictory information from local Llangollen conveyancing solicitors. Could you clarify whether the seller of a flat can instigate the lease extension process for the buyer?

Provided that the seller has been the owner 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 wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.

An alternative approach is to agree the lease extension with the freeholder 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.

What are your top tips when it comes to finding a Llangollen conveyancing practice to carry out our lease extension conveyancing?

When appointing a solicitor for your lease extension (regardless if they are a Llangollen conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We suggested that you make enquires with several firms including non Llangollen conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:

  • If the firm is not ALEP accredited then what is the reason?
  • How many lease extensions has the firm carried out in Llangollen in the last twenty four months?

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

    • Much of the delay in leasehold conveyancing in Llangollen can be reduced where you instruct lawyers the minute your agents start advertising the property and ask them to collate the leasehold documentation needed by the buyers lawyers.
    • The majority landlords or Management Companies in Llangollen charge for supplying management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Llangollen.
  • In the event that you altered the property did you need the Landlord’s approval? In particular have you installed wooden flooring? Llangollen leases often stipulate that internal structural alterations or laying down wooden flooring necessitate a licence from the Landlord consenting to such works. Should you dont have the consents to hand do not contact the landlord without checking with your conveyancer before hand.
  • If you have had any disputes with your freeholder or managing agents it is essential that these are resolved prior to the flat being marketed. The buyers and their solicitors will be concerned about purchasing a property where there is an ongoing dispute. You may have to bite the bullet and discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is clearly preferable to reveal the dispute as over rather than ongoing.
  • If you hold a share in a the freehold, you should ensure that you are holding the original share document. Obtaining a duplicate share certificate is often a time consuming formality and frustrates many a Llangollen conveyancing transaction. Where a reissued share certificate is necessary, you should approach the company director and secretary or managing agents (where applicable) for this as soon as possible.

    • I bought a studio flat in Llangollen, conveyancing having been completed 1997. How much will my lease extension cost? Comparable properties in Llangollen with over 90 years remaining are worth £228,000. The average or mid-range amount of ground rent is £55 invoiced annually. The lease comes to an end on 21st October 2101

    With just 76 years unexpired the likely cost is going to be between £9,500 and £11,000 plus legals.

    The figure above a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Llangollen