I have recently realised that I have 62 years remaining on my lease in Llanrwst. I now want to get lease extension but my freeholder is missing. What should I do?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. However, you will be required to prove that you have done all that could be expected to track down the landlord. On the whole a specialist may be helpful to try and locate and prepare an expert document which can be accepted by the court as proof that the freeholder can not be located. It is wise to seek advice from a solicitor in relation to investigating the landlord’s disappearance and the application to the County Court covering Llanrwst.

Estate agents have just been given the go-ahead to market my 2 bed flat in Llanrwst.Conveyancing lawyers have not yet been instructed but I have just had a yearly service charge invoice – what should I do?

It best that you discharge 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. This will smooth the conveyancing process.

Can you offer any advice when it comes to finding a Llanrwst conveyancing firm to deal with our lease extension?

When appointing a property lawyer for your lease extension (regardless if they are a Llanrwst conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We suggested that you speak with two or three firms including non Llanrwst conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be of use:

• If they are not ALEP accredited then why not?

What are the legal fees for lease extension work?

Do you have any advice for leasehold conveyancing in Llanrwst with the intention of speeding up the sale process?

• Much of the delay in leasehold conveyancing in Llanrwst can be bypassed where you appoint lawyers as soon as you market your property and request that they start to collate the leasehold information which will be required by the buyers solicitors.
• Many landlords or managing agents in Llanrwst levy fees for supplying management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Llanrwst.

In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? Llanrwst leases often stipulate that internal structural alterations or laying down wooden flooring calls for a licence from the Landlord consenting to such alterations. Where you dont have the consents to hand do not communicate with the landlord without contacting your solicitor in the first instance.

Some Llanrwst leases require Licence to Assign from the landlord. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their lawyers.

If you hold a share in a the Management Company, you should make sure that you have the original share certificate. Arranging a replacement share certificate is often a time consuming formality and delays many a Llanrwst home move. Where a new share is required, do contact the company officers or managing agents (where relevant) for this sooner rather than later.

We expect to complete the sale of our £425000 flat in Llanrwst next Wednesday . The managing agents has quoted £420 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Llanrwst?

For most leasehold sales in Llanrwst conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Answering pre-exchange enquiries
• Where consent is required before sale in Llanrwst
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Llanrwst leasehold property is £350. For Llanrwst conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to provide the information.

I acquired a 2 bed flat in Llanrwst, conveyancing was carried out in 2006. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Llanrwst with an extended lease are worth £270,000. The ground rent is £60 levied per year. The lease ends on 21st October 2087

With just 62 years unexpired we estimate the price of your lease extension to be between £20,900 and £24,200 plus professional fees.

The figure above a general guide to costs for extending a lease, but we are not able to supply the actual costs without more comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There may be additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.

Other Topics

Lease Extensions in Llanrwst