I've found a house that seems to meet my requirements, at a great figure which is making it all the more appealing. I have just found out that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns buying a leasehold house in Llantarnam. Conveyancing solicitors have are soon to be appointed. Will they explain the issues?

The majority of houses in Llantarnam are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. We note that you are buying in Llantarnam so you should seriously consider looking for a Llantarnam conveyancing solicitor and be sure that they are used to advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example requiring the landlord’sconsent to carry out alterations. You may also be required to pay a service charge towards the upkeep of the communal areas where the property is part of an estate. Your conveyancer will report to you on the legal implications.

Last month I purchased a leasehold house in Llantarnam. Am I liable to pay service charges relating to a period prior to my ownership?

In a situation 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. Strange as it may seem, 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 reputable estate agent office in Llantarnam where we have witnessed a few leasehold sales put at risk due to short leases. I have received contradictory information from local Llantarnam conveyancing solicitors. Could you clarify whether the owner of a flat can instigate the lease extension process for the purchaser on completion of the sale?

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. This means 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 has to be done prior to, or at the same time as completion of the sale.

An alternative approach is 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.

What advice can you give us when it comes to appointing a Llantarnam conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a conveyancer for your lease extension (regardless if they are a Llantarnam conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with several firms including non Llantarnam conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

• How familiar is the firm with lease extension legislation?

All being well we will complete the sale of our £475000 maisonette in Llantarnam next Wednesday . The managing agents has quoted £384 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Llantarnam?

Llantarnam conveyancing on leasehold maisonettes often involves the purchaser’s lawyer sending enquiries for the landlord to answer. Although the landlord is under no legal obligation to respond to such questions the majority will be content to do so. They are at liberty charge a reasonable administration fee for answering enquiries or supplying documentation. There is no set fee. The average fee for the information that you are referring to is over three hundred pounds, in some cases it exceeds £800. The administration charge required by the landlord must be accompanied by a synopsis of rights and obligations in respect of administration fees, otherwise the charge is technically not due. In reality you have little option but to pay whatever is requested of you if you want to complete the sale of your home.

I invested in buying a basement flat in Llantarnam, conveyancing formalities finalised in 2011. How much will my lease extension cost? Comparable properties in Llantarnam with over 90 years remaining are worth £189,000. The average or mid-range amount of ground rent is £50 per annum. The lease finishes on 21st October 2089

With only 63 years remaining on your lease we estimate the price of your lease extension to be between £17,100 and £19,800 as well as plus your own and the landlord's "reasonable" professional fees.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs without more detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.

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Lease Extensions in Llantarnam