I would like to sublet my leasehold flat in Llantwit Major. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?

Some leases for properties in Llantwit Major do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably withhold but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.

I am hoping to put an offer on a small detached house that appears to be perfect, at a reasonable price which is making it all the more appealing. I have just discovered that it's a leasehold rather than freehold. I would have thought that there are issues purchasing a leasehold house in Llantwit Major. Conveyancing solicitors have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Llantwit Major ?

Most houses in Llantwit Major are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Llantwit Major so you should seriously consider looking for a Llantwit Major conveyancing solicitor and be sure that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as requiring the landlord’sconsent to conduct changes to the property. You may also be required to pay a service charge towards the upkeep of the communal areas where the property is located on an estate. Your conveyancer will appraise you on the various issues.

I am attracted to a couple of flats in Llantwit Major which have in the region of forty five years left on the lease term. should I be concerned?

There are no two ways about it. A leasehold apartment in Llantwit Major is a wasting asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it reduces the value of the premises. For most buyers and mortgage companies, leases with under eighty years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Llantwit Major conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

What advice can you give us when it comes to choosing a Llantwit Major conveyancing firm to carry out our lease extension conveyancing?

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

• How experienced is the practice with lease extension legislation?

Can you provide any top tips for leasehold conveyancing in Llantwit Major with the intention of speeding up the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Llantwit Major can be bypassed if you get in touch lawyers the minute your agents start marketing the property and request that they start to collate the leasehold information which will be required by the purchasers’ representatives.
• The majority landlords or managing agents in Llantwit Major levy fees for supplying management packs for a leasehold homes. You or your lawyers should enquire as to the fee that they propose to charge. The management pack sought 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 frequent reason for delay in leasehold conveyancing in Llantwit Major.

Llantwit Major Conveyancing for Leasehold Flats - A selection of Queries before Purchasing

Does the lease have onerous restrictions? Best to be warned whether redecorating or some other major work is due in the foreseeable future that will be shared between the leasehold owners and could well materially increase the the maintenance costs or require a one time payment. This question is important as a) areas may cause 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 wish to have all the details

Other Topics

Lease Extensions in Llantwit Major