Fixed-fee leasehold conveyancing in Mynydd Isa:

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Sample questions relating to Mynydd Isa leasehold conveyancing

I only have 72 years remaining on my flat in Mynydd Isa. I now want to get lease extension but my freeholder is can not be found. What options are available to me?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. However, you will be required to prove that you or your lawyers have used your best endeavours to track down the lessor. On the whole a specialist would be useful to try and locate and prepare a report to be used as evidence that the landlord can not be located. It is advisable to get professional help from a property lawyer in relation to investigating the landlord’s disappearance and the application to the County Court covering Mynydd Isa.

I have just started marketing my 2 bed flat in Mynydd Isa.Conveyancing solicitors are to be appointed soon but I have just received a half-yearly maintenance charge demand – Do I pay up?

It best that you discharge 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 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 am a negotiator for a reputable estate agent office in Mynydd Isa where we see a number of leasehold sales put at risk due to leases having less than 80 years remaining. I have received inconsistent advice from local Mynydd Isa conveyancing firms. Can you clarify whether the owner of a flat can initiate the lease extension process for the purchaser on completion of the sale?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.

An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

Can you provide any top tips for leasehold conveyancing in Mynydd Isa from the point of view of saving time on the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Mynydd Isa can be reduced if you get in touch lawyers the minute you market your property and request that they start to collate the leasehold documentation needed by the buyers solicitors.
  • The majority freeholders or managing agents in Mynydd Isa charge for providing management packs for a leasehold premises. You or your lawyers should enquire as to the fee that they propose to charge. The management information sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Mynydd Isa.
  • A minority of Mynydd Isa 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 bank and professional references. Any 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 actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.
  • If there is a history of any disputes with your freeholder or managing agents it is essential that these are settled prior to the flat being put on the market. The purchasers and their solicitors will be reluctant to purchase a property where there is a current dispute. You will have to accept that you will have to pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is better to reveal the dispute as historic as opposed to ongoing.
  • You believe that you know the number of years left on your lease but it would be wise to double-check via your solicitors. A purchaser's lawyer will be unlikely to recommend their client to to exchange contracts if the lease term is below 80 years. It is therefore essential at an early stage that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

  • If all goes to plan we aim to complete the disposal of our £425000 garden flat in Mynydd Isa next week. The landlords agents has quoted £360 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Mynydd Isa?

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

    • Answering pre-exchange enquiries
    • Where consent is required before sale in Mynydd Isa
    • Supplying insurance information
    • Deeds of covenant upon sale
    • Registering of the assignment of the change of lessee after a sale
    Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Mynydd Isa leasehold property is £350. For Mynydd Isa 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 provide answers.

    Mynydd Isa Leasehold Conveyancing - Examples of Questions you should consider before Purchasing

      Does the lease contain onerous restrictions? Best to be warned whether window replacement or some other significant cost is coming up that will be shared by the leasehold owners and will materially impact the level of the maintenance costs or require a specific payment. Generally speaking the outlay for major works are not included within service charges, albeit that some managing agents in Mynydd Isa ask leasehold owners to pay into a sinking fund and this is used to offset against major repairs or maintenance.

    Other Topics

    Lease Extensions in Mynydd Isa