I am on look out for some leasehold conveyancing in Menai Bridge. Before diving in I want to be sure as to the number of years remaining on the lease.

Assuming the lease is registered - and 99.9% are in Menai Bridge - 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.

I am intending to let out my leasehold flat in Menai Bridge. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

A lease governs relations between the landlord and you the flat owner; specifically, it will set out if subletting is prohibited, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no expres ban or restriction, subletting is permitted. The majority of leases in Menai Bridge do not prevent subletting altogether – such a clause would adversely affect the market value the flat. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.

I own a leasehold flat in Menai Bridge. Conveyancing and Norwich and Peterborough Building Society mortgage organised. A letter has just been received from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1993. The conveyancing practitioner in Menai Bridge who acted for me is not around.Any advice?

The first thing you should do is make enquiries of HMLR to make sure that the individual purporting to own the freehold is indeed the new freeholder. You do not need to incur the fees of a Menai Bridge conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am tempted by the attractive purchase price for a two flats in Menai Bridge both have in the region of 50 years left on the leases. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Menai Bridge. The lease is a right to use the premises for a prescribed time frame. As a lease shortens the marketability of the lease reduces and results in it becoming more costly to acquire a lease extension. This is why it is generally wise to extend the lease term. It is often difficulties arise selling premises with a short lease because mortgage companies may be unwilling to lend money on properties of this type. Lease enfranchisement can be a protracted process. We recommend you seek professional help from a solicitor and surveyor with experience in this area

If all goes to plan we aim to complete our sale of a £400000 maisonette in Menai Bridge next week. The managing agents has quoted £372 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Menai Bridge?

For the majority of leasehold sales in Menai Bridge conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Completing pre-contract questions
• Where consent is required before sale in Menai Bridge
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Menai Bridge leasehold property is £350. For Menai Bridge 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 the information.

Leasehold Conveyancing in Menai Bridge - Sample of Questions you should ask before buying

You should want to find out as much as you can regarding the managing agents as they will affect your use and enjoyment of the property. As the proprietor of a leasehold property you are often in the clutches of the managing agents from a financial perspective and when it comes to practical issues like the upkeep of the common parts. Don't be shy to ask other people if they are happy with them. On a final note, investigate as to the dates that the service fees are due to the relevant party and precisely how they are spending the funds. The best form of lease structure is where the freehold reversion is owned by the leaseholders. In this arrangement the leaseholders have being in charge if their destiny and although a managing agent is often retained where the building is bigger than a house conversion, the managing agent acts for the leaseholders themselves. Does the lease have in excess of 80 years remaining?

Other Topics

Lease Extensions in Menai Bridge