I am in need of some leasehold conveyancing in Magor. Before I set the wheels in motion I require certainty as to the number of years remaining on the lease.

If the lease is recorded at the land registry - and 99.9% are in Magor - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

Helen (my wife) and I may need to let out our Magor garden flat for a while due to a career opportunity. We used a Magor conveyancing firm in 2003 but they have since shut and we did not think at the time get any advice as to whether the lease permits subletting. How do we find out?

Some leases for properties in Magor do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to review references. Experience dictates 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’m about to sell my 2 bed flat in Magor.Conveyancing is yet to be initiated but I have just received a quarterly maintenance charge demand – what should I do?

Your conveyancing lawyer is likely to suggest that you should 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 until 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. Having a clear account will assist your cause and will leave you no worse off financially.

Do you have any advice for leasehold conveyancing in Magor with the purpose of saving time on the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Magor can be avoided where you appoint lawyers the minute you market your property and request that they start to collate the leasehold information which will be required by the purchasers’ representatives.
• The majority landlords or Management Companies in Magor levy fees for supplying management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management pack sought as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Magor.

In the event that you altered the property did you need the Landlord’s permission? Have you, for example installed wooden flooring? Magor leases often stipulate that internal structural changes or installing wooden flooring calls for a licence from the Landlord approving such works. Where you fail to have the approvals in place do not contact the landlord without checking with your conveyancer in the first instance.

Some Magor leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference will need to confirm that the buyers are able to meet 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 actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.

If you have the benefit of shareholding in the freehold, you should ensure that you are holding the original share document. Organising a replacement share certificate can be a time consuming formality and slows down many a Magor conveyancing deal. If a reissued share is needed, do contact the company director and secretary or managing agents (where applicable) for this as soon as possible.

Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £300000 maisonette in Magor in six days. The freeholder has quoted £408 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Magor?

Magor conveyancing on leasehold apartments ordinarily results in fees being levied by landlords agents :

• Answering conveyancing due diligence questions
• Where consent is required before sale in Magor
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Magor leasehold premises is £350. For Magor 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 required to provide the information.

I acquired a ground floor flat in Magor, conveyancing having been completed 2008. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable properties in Magor with a long lease are worth £215,000. The average or mid-range amount of ground rent is £55 per annum. The lease expires on 21st October 2102

With only 76 years left to run we estimate the price of your lease extension to span between £12,400 and £14,200 as well as costs.

The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.

Other Topics

Lease Extensions in Magor