I am on look out for some leasehold conveyancing in Neath. Before I set the wheels in motion I want to be sure as to the unexpired term of the lease.

Assuming the lease is recorded at the land registry - and most 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.

I want to let out my leasehold apartment in Neath. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?

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 is not entitled to unreasonably refuse but, in such cases, they would need to see references. Experience suggests 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 consent.

I am attracted to a couple of flats in Neath both have in the region of 50 years remaining on the lease term. Do I need to be concerned?

A lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease shortens the value of the lease deteriorate and it becomes more costly to extend the lease. For this reason it is often a good idea to extend the lease term. More often than not it is difficulties arise selling premises with a short lease as mortgage lenders may be reluctant to lend money on such properties. Lease enfranchisement can be a protracted process. We advise that you get professional assistance from a solicitor and surveyor with experience in this arena

Last month I purchased a leasehold property in Neath. Do I have any liability for service charges for periods before my ownership?

In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Completion in due on our sale of a £500000 flat in Neath on Tuesday in a week. The managing agents has quoted £300 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Neath?

Neath conveyancing on leasehold maisonettes more often than not requires the buyer’s solicitor submitting questions for the landlord to address. Although the landlord is not legally bound to address such questions the majority will be content to assist. They may levy a reasonable administration fee for responding to questions or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is over three hundred pounds, in some cases it exceeds £800. The administration charge required by the landlord must be sent together with a synopsis of entitlements and obligations in respect of administration charges, otherwise the invoice is not strictly payable. In reality you have no choice but to pay whatever is requested of you if you want to complete the sale of your home.

Neath Conveyancing for Leasehold Flats - A selection of Queries Prior to Purchasing

What is the annual service fee and ground rent? It is important to be aware if window replacement or some other major work is due in the foreseeable future to be shared by the leasehold owners and may well materially impact the level of the maintenance fees or require a specific payment. The prefered form of lease arrangement is if the freehold title is in the ownership of the leaseholders. In this arrangement the lessees have being in charge if their destiny and although a managing agent is often employed where it is bigger than a house conversion, the managing agent retained by the leaseholders.

Other Topics

Lease Extensions in Neath