Neath leasehold conveyancing Example Support Desk Enquiries
Having had my offer accepted I require leasehold conveyancing in Neath. Before diving in I would like to find out the unexpired term of the lease.
Assuming the lease is registered - and almost all are in Neath - then the leasehold title will always include the short particulars 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.
My partner and I may need to let out our Neath basement flat for a while due to a new job. We used a Neath conveyancing firm in 2004 but they have closed and we did not have the foresight to seek any guidance as to whether the lease permits subletting. How do we find out?
Some leases for properties in Neath do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably refuse but, in such cases, they would need to see references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.
I only have 72 years remaining on my lease in Neath. I am keen to extend my lease but my freeholder is missing. What should I do?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply 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 demonstrate that you have made all reasonable attempts to find the landlord. In some cases an enquiry agent may be useful to try and locate and prepare a report which can be used as proof that the freeholder can not be located. It is advisable to get professional help from a conveyancer both on investigating the landlord’s absence and the vesting order request to the County Court overseeing Neath.
I today plan to offer on a house that seems to tick a lot of boxes, at a great price which is making it more attractive. I have just discovered that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a leasehold house in Neath. Conveyancing lawyers have not yet been appointed. Will they explain the issues?
Most houses in Neath are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. We note that you are buying in Neath in which case you should be shopping around for a Neath conveyancing practitioner and check that they are used to advising on leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example requiring the landlord’sconsent to conduct changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the estate where the property is located on an estate. Your solicitor should advise you fully on all the issues.
I am looking at a couple of apartments in Neath which have approximately 50 years left on the lease term. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Neath. The lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease shortens the saleability of the lease reduces and it becomes more costly to extend the lease. This is why it is advisable to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease because mortgage companies may be reluctant to lend money on properties of this type. Lease extension can be a protracted process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this field
I invested in buying a split level flat in Neath, conveyancing having been completed in 2008. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Neath with over 90 years remaining are worth £175,000. The average or mid-range amount of ground rent is £55 invoiced annually. The lease ceases on 21st October 2090
With only 64 years unexpired the likely cost is going to be between £18,100 and £20,800 as well as 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 detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.
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