I would like to let out my leasehold apartment in Llanwrtyd Wells. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?

Your lease governs the relationship between the landlord and you the leaseholder; in particular, it will set out if subletting is prohibited, or permitted but only subject to certain conditions. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Llanwrtyd Wells do not prevent strict prohibition on subletting – such a clause would undoubtedly devalue the flat. In most cases there is a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.

Having checked my lease I have discovered that there are only Fifty years unexpired on my lease in Llanwrtyd Wells. I need to extend my lease but my freeholder is absent. What options are available to me?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. However, you will be required to prove that you or your lawyers have used your best endeavours to find the lessor. For most situations a specialist should be helpful to conduct investigations and to produce an expert document which can be used as proof that the landlord is indeed missing. It is advisable to get professional help from a property lawyer in relation to investigating the landlord’s disappearance and the vesting order request to the County Court covering Llanwrtyd Wells.

Estate agents have just been given the go-ahead to market my 2 bed apartment in Llanwrtyd Wells.Conveyancing has not commenced but I have just received a half-yearly service charge demand – should I leave it to the buyer to sort out?

It best that you pay 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 management companies 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.

I am looking at a couple of apartments in Llanwrtyd Wells which have in the region of forty five years left on the lease term. Will this present a problem?

There is no doubt about it. A leasehold apartment in Llanwrtyd Wells is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it adversely affects the value of the property. For most buyers and mortgage companies, leases with under eighty years become less and less marketable. On a more positive 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 premises 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 Llanwrtyd Wells conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new 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.

I've recently bought a leasehold property in Llanwrtyd Wells. Do I have any liability for 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 be sure 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).

Llanwrtyd Wells Conveyancing for Leasehold Flats - Examples of Questions you should ask before buying

The answer will be useful as a) areas could cause problems in the building as the communal areas may begin to deteriorate if services are not paid for b) if the leasehold owners have an issue with the running of the building you will want to have full disclosure How long is the Lease? The best form of lease arrangement is a share of the freehold. In this arrangement the tenants have control and notwithstanding that a managing agent is often retained if the building is larger than a house conversion, the managing agent is directed by the tenants.

Other Topics

Lease Extensions in Llanwrtyd Wells