I am on look out for some leasehold conveyancing in Nantyglo. Before diving in I would like to find out the number of years remaining on the lease.

Assuming the lease is registered - and most are in Nantyglo - 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 would like to let out my leasehold flat in Nantyglo. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?

Even though your previous Nantyglo conveyancing lawyer is no longer around you can review your lease to check if you are permitted to let out the property. The rule is that if the lease is non-specific, subletting is permitted. There may be a precondition that you must seek consent via your landlord or some other party in advance of subletting. The net result is that you cannot sublet in the absence of first obtaining consent. The consent should not be unreasonably withheld. If your lease prohibits you from subletting the property you should ask your landlord for their consent.

Planning to sign contracts shortly on a basement flat in Nantyglo. Conveyancing lawyers assured me that they report fully within the next couple of days. What should I be looking out for?

Your report on title for your leasehold conveyancing in Nantyglo should include some of the following:

• You should be sent a copy of the lease

I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a great figure which is making it all the more appealing. I have subsequently found out that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a leasehold house in Nantyglo. Conveyancing solicitors have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Nantyglo ?

The majority of houses in Nantyglo are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are buying in Nantyglo so you should seriously consider looking for a Nantyglo conveyancing practitioner and check that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’spermission to conduct changes to the property. You may also be required to pay a service charge towards the maintenance of the estate where the property is part of an estate. Your lawyer will advise you fully on all the issues.

What makes a Nantyglo lease problematic?

There is nothing unique about leasehold conveyancing in Nantyglo. Most leases are individual and drafting errors can sometimes mean that certain sections are not included. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain parts of the building
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, Chelsea Building Society, and Nottingham Building Society all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, obliging the buyer to withdraw.

I inherited a leasehold flat in Nantyglo, conveyancing formalities finalised half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Nantyglo with a long lease are worth £228,000. The ground rent is £55 per annum. The lease expires on 21st October 2081

With 57 years remaining on your lease we estimate the premium for your lease extension to span between £27,600 and £31,800 as well as professional fees.

The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more comprehensive due diligence. You should 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 want to be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.

Other Topics

Lease Extensions in Nantyglo