Planning to sign contracts shortly on a basement flat in Llantarnam. Conveyancing solicitors assured me that they are sending me a report next week. What should I be looking out for?

Your report on title for your leasehold conveyancing in Llantarnam should include some of the following:

• How long the lease is You should be advised as what happens when the lease ends, and aware of the importance of not letting the lease term falling below eighty years

Defining your rights in relation to common areas in the block.By way of example, does the lease grant a right of way over an accessway or hallways?

Does the lease prohibit wood flooring?

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

Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?

Responsibility for repairing the window frames

What options are open to you if a neighbour breach a clause of their lease? For details of the information to be included in your report on your leasehold property in Llantarnam please enquire of your solicitor in advance of your conveyancing in Llantarnam

I've found a house that appears to tick a lot of boxes, at a great price which is making it all the more appealing. I have since been informed that the title is leasehold rather than freehold. I would have thought that there are issues buying a house with a leasehold title in Llantarnam. Conveyancing solicitors have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Llantarnam ?

The majority of houses in Llantarnam are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. We note that you are buying in Llantarnam in which case you should be shopping around for a Llantarnam conveyancing solicitor and check that they are used to dealing with leasehold houses. First you will need to check the number of years remaining. As a tenant you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example requiring the freeholder’spermission to conduct alterations. It may be necessary to pay a service charge towards the upkeep of the estate where the house is part of an estate. Your conveyancer will appraise you on the various issues.

I am tempted by the attractive purchase price for a couple of apartments in Llantarnam both have in the region of fifty years unexpired on the lease term. Will this present a problem?

There are plenty of short leases in Llantarnam. The lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease gets shorter the marketability of the lease deteriorate and results in it becoming more costly to acquire a lease extension. For this reason it is advisable to increase the term of the lease. It is often difficult to sell a property with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a difficult process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this arena

I've recently bought a leasehold property in Llantarnam. Am I liable to pay service charges for periods before my ownership?

Where the service charge has already been demanded from the previous owner 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).

If all goes to plan we aim to complete our sale of a £350000 flat in Llantarnam in just under a week. The landlords agents has quoted £300 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge such fees for a flat conveyance in Llantarnam?

Llantarnam conveyancing on leasehold maisonettes nine out of ten times necessitates fees being invoiced by landlords agents :

• Completing conveyancing due diligence enquiries
• Where consent is required before sale in Llantarnam
• 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 Llantarnam leasehold premises is £350. For Llantarnam 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 supply answers.

Llantarnam Leasehold Conveyancing - A selection of Queries before buying

The answer will be important as a) areas may result in problems in the block as the communal areas may begin to deteriorate where maintenance are not paid for b) if the leasehold owners have an issue with the managing agents you will want to have all the details What is the service charge and ground rent on the apartment? The best form of lease arrangement is a share of the freehold. In this situation the lessees benefit from being in charge if their destiny and notwithstanding that a managing agent is frequently retained where the building is larger than a house conversion, the managing agent retained by the leaseholders.

Other Topics

Lease Extensions in Llantarnam