Leasehold Conveyancing in Mold - Get a Quote from the leasehold experts approved by your lender

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When it comes to leasehold conveyancing in Mold, you will need to chose a conveyancing practitioner with leasehold experience. Whether your mortgage company is to be Lloyds, Birmingham Midshires or Bradford & Bingley be sure to choose a lawyer on their panel. Feel free to use our search tool

Common questions relating to Mold leasehold conveyancing

I’m about to sell my basement flat in Mold.Conveyancing solicitors are to be appointed soon but I have just received a yearly service charge invoice – should I leave it to the buyer to sort out?

The sensible thing to do is clear 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. This will smooth the conveyancing process.

I am hoping to put an offer on a small detached house that seems to be perfect, at a reasonable figure which is making it all the more appealing. I have since found out that the title is leasehold rather than freehold. I would have thought that there are issues purchasing a leasehold house in Mold. Conveyancing solicitors have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Mold ?

The majority of houses in Mold are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. It is clear that you are purchasing in Mold in which case you should be looking for a Mold conveyancing solicitor and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as requiring the freeholder’sconsent to carry out alterations. You may also be required to pay a contribution towards the upkeep of the estate where the house is part of an estate. Your conveyancer will advise you fully on all the issues.

Last month I purchased a leasehold property in Mold. Am I liable to pay service charges for periods before completion of my purchase?

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. 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 offer any advice when it comes to appointing a Mold conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a solicitor for lease extension works (regardless if they are a Mold conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with two or three firms including non Mold conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be helpful:

  • How experienced is the practice with lease extension legislation?
  • If they are not ALEP accredited then what is the reason?

    • Can you provide any top tips for leasehold conveyancing in Mold with the intention of saving time on the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Mold can be bypassed if you get in touch lawyers as soon as you market your property and ask them to collate the leasehold information needed by the purchasers’ solicitors.
    • The majority freeholders or managing agents in Mold charge for supplying management packs for a leasehold premises. You or your lawyers should enquire as to the fee that they propose to charge. The management pack can be applied for on or before finding 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 Mold.
  • In the event that you altered the property did you need the Landlord’s approval? Have you, for example installed wooden flooring? Mold leases often stipulate that internal structural alterations or installing wooden flooring necessitate a licence from the Landlord approving such changes. If you fail to have the paperwork to hand you should not communicate with the landlord without contacting your lawyer in advance.
  • Some Mold leases require Licence to Assign from the landlord. 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. Any bank reference will need to confirm that the buyers are financially capable of paying 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 purchasers or their lawyers.
  • If you hold a share in a the freehold, you should make sure that you have the original share document. Arranging a new share certificate is often a time consuming process and frustrates many a Mold conveyancing transaction. If a new share is required, do contact the company director and secretary or managing agents (where relevant) for this sooner rather than later.

    • I inherited a 1st floor flat in Mold, conveyancing having been completed in 2003. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent properties in Mold with a long lease are worth £178,000. The ground rent is £50 invoiced annually. The lease ends on 21st October 2078

    You have 53 years remaining on your lease we estimate the price of your lease extension to span between £28,500 and £33,000 plus costs.

    The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Mold