Looking forward to sign contracts shortly on a basement flat in Mold. Conveyancing solicitors inform me that they will have a report out to me within the next couple of days. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Mold should include some of the following:

• Setting out your legal entitlements in respect of common areas in the building.For example, does the lease grant a right of way over an accessway or hallways?
• Does the lease require carpeting throughout thus preventing wood flooring?
• Does the lease prevent you from renting out the property, or having a home office for business
• Whether your lease has a provision for a reserve fund?
• Changes to the flat (alterations and additions)
• The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
• What the implications are if you breach a clause of your lease?

Back In 2001, I bought a leasehold house in Mold. Conveyancing and Virgin Money mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1991. The conveyancing practitioner in Mold who previously acted has now retired.What should I do?

First contact the Land Registry to be sure that the individual purporting to own the freehold is in fact the new freeholder. You do not need to instruct a Mold conveyancing lawyer to do this as you can do this on the Land Registry website for £3. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I've recently bought a leasehold house in Mold. Am I liable to pay service charges for periods before my ownership?

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. However, your landlord may still be able to take action to forfeit the lease. A critical element 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).

Can you provide any top tips for leasehold conveyancing in Mold from the perspective of expediting the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Mold can be reduced if you appoint lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold information which will be required by the purchasers’ solicitors.
• If you have carried out any alterations to the premises would they have required Landlord’s consent? In particular have you installed wooden flooring? Most leases in Mold state that internal structural changes or installing wooden flooring require a licence issued by the Landlord consenting to such alterations. Should you dont have the paperwork to hand you should not communicate with the landlord without checking with your lawyer in advance.
• Some Mold leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference will need to confirm that the buyers are able to meet the annual 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 service charge figures so that they can pass this information on to the buyers or their solicitors.
• If you hold a share in a the Management Company, you should make sure that you hold the original share document. Organising a replacement share certificate is often a lengthy process and frustrates many a Mold conveyancing deal. If a reissued share certificate is needed, you should approach the company director and secretary or managing agents (where relevant) for this at the earliest opportunity.
• You may think that you are aware of the number of years remaining on your lease but it would be advisable double-check via your solicitors. A purchaser's conveyancer will be unlikely to recommend their client to where the remaining number of years is less than 75 years. It is therefore essential at an as soon as possible that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

Are there frequently found deficiencies that you see in leases for Mold properties?

Leasehold conveyancing in Mold is not unique. Most leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain provisions are erroneous. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain elements of the property
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

You may encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Skipton Building Society, and TSB all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, forcing the purchaser to pull out.

Mold Leasehold Conveyancing - Sample of Queries Prior to buying

Is there a share of the freehold?