Examples of recent questions relating to leasehold conveyancing in Mynydd Isa
I am in need of some leasehold conveyancing in Mynydd Isa. Before I get started I require certainty as to the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and 99.9% are in Mynydd Isa - 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 want to sublet my leasehold apartment in Mynydd Isa. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
The lease governs relations between the landlord and you the flat owner; in particular, it will say if subletting is prohibited, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no expres ban or restriction, subletting is permitted. Most leases in Mynydd Isa do not contain strict prohibition on subletting – such a clause would adversely affect the market value the property. In most cases there is a basic requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.
I’m about to sell my garden apartment in Mynydd Isa.Conveyancing has not commenced but I have just received a quarterly maintenance charge demand – what should I do?
Your conveyancing lawyer is likely to suggest that you should discharge the invoice 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 managing agents 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 looking at a couple of flats in Mynydd Isa both have in the region of 50 years unexpired on the leases. Should I regard a short lease as a deal breaker?
A lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease shortens the saleability of the lease decreases and results in it becoming more expensive to acquire a lease extension. This is why it is often a good idea to extend the lease term. Sometimes it is difficult to sell a property with a short lease as mortgage lenders may be unwilling to lend money on such properties. Lease extension can be a difficult process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this field
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £350000 garden flat in Mynydd Isa next Monday . The managing agents has quoted £336 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Mynydd Isa?
Mynydd Isa conveyancing on leasehold apartments more often than not involves the buyer’s solicitor submitting questions for the landlord to answer. Although the landlord is not legally bound to address these enquiries the majority will be content to assist. They may invoice a reasonable administration fee for responding to questions or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is over three hundred pounds, in some cases it is in excess of £800. The management information fee levied by the landlord must be accompanied by a synopsis of entitlements and obligations in respect of administration fees, without which the charge is technically not due. In reality you have little option but to pay whatever is requested of you if you want to exchange contracts with the buyer.
I acquired a 2 bed flat in Mynydd Isa, conveyancing formalities finalised 2009. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Mynydd Isa with a long lease are worth £234,000. The ground rent is £45 invoiced annually. The lease finishes on 21st October 2101
You have 78 years left to run we estimate the premium for your lease extension to be between £11,400 and £13,200 as well as costs.
The figure above a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.