I am in need of some leasehold conveyancing in Mynydd Isa. Before I get started I require certainty as to the remaining lease term.

Assuming the lease is registered - and almost all 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 have just started marketing my basement flat in Mynydd Isa.Conveyancing lawyers have not yet been instructed but I have just had a quarterly maintenance charge demand – should I leave it to the buyer to sort out?

It best that you clear 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 management companies will not acknowledge the buyer unless 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've found a house that appears to meet my requirements, at a great price which is making it more attractive. I have subsequently found out that the title is leasehold as opposed to freehold. I would have thought that there are issues purchasing a leasehold house in Mynydd Isa. Conveyancing advisers have not yet been instructed. Will they explain the issues?

The majority of houses in Mynydd Isa are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. We note that you are purchasing in Mynydd Isa so you should seriously consider looking for a Mynydd Isa conveyancing practitioner and be sure that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. As a tenant you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example requiring the freeholder’sconsent to conduct alterations. You may also be required to pay a maintenance charge towards the upkeep of the estate where the house is part of an estate. Your lawyer should appraise you on the various issues.

I am tempted by the attractive purchase price for a two flats in Mynydd Isa both have about fifty years left on the leases. Will this present a problem?

There is no doubt about it. A leasehold flat in Mynydd Isa is a wasting asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it adversely affects the value of the property. The majority of purchasers and banks, leases with under eighty years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Mynydd Isa conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

If all goes to plan we aim to complete the disposal of our £375000 flat in Mynydd Isa next week. The freeholder has quoted £408 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Mynydd Isa?

Mynydd Isa conveyancing on leasehold apartments usually requires the buyer’s lawyer sending enquiries for the landlord to answer. Although the landlord is not legally bound to respond to these enquiries the majority will be willing to assist. They are entitled levy a reasonable administration fee for answering enquiries or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is £350, in some cases it is above £800. The management information fee invoiced by the landlord must be sent together with a synopsis of entitlements and obligations in relation to administration charges, without which the charge is not strictly payable. In reality you have little choice but to pay whatever is requested of you should you wish to sell the property.

I invested in buying a basement flat in Mynydd Isa, conveyancing having been completed 2003. Can you work out an approximate cost of a lease extension? Corresponding properties in Mynydd Isa with an extended lease are worth £207,000. The average or mid-range amount of ground rent is £65 charged once a year. The lease runs out on 21st October 2084

You have 59 years left to run we estimate the price of your lease extension to range between £22,800 and £26,400 as well as plus your own and the landlord's "reasonable" professional fees.

The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.

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Lease Extensions in Mynydd Isa