Estate agents have just been given the go-ahead to market my ground floor apartment in Old Colwyn.Conveyancing is yet to be initiated but I have just had a yearly maintenance charge invoice – what should I do?

It best that you pay 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 until 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 tick a lot of boxes, at a reasonable figure which is making it more attractive. I have since discovered that it's a leasehold rather than freehold. I am assuming that there are issues buying a leasehold house in Old Colwyn. Conveyancing solicitors have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Old Colwyn ?

Most houses in Old Colwyn are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in Old Colwyn so you should seriously consider looking for a Old Colwyn conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’sconsent to carry out changes to the property. You may also be required to pay a contribution towards the maintenance of the communal areas where the property is part of an estate. Your lawyer should advise you fully on all the issues.

My wife and I purchased a leasehold flat in Old Colwyn. Conveyancing and TSB mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1992. The conveyancing practitioner in Old Colwyn who acted for me is not around.Do I pay?

First make enquiries of HMLR to be sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. There is no need to instruct a Old Colwyn conveyancing practitioner to do this as it can be done on-line for a few pound. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

What are your top tips when it comes to choosing a Old Colwyn conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a conveyancer for your lease extension (regardless if they are a Old Colwyn conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with several firms including non Old Colwyn conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

• How experienced is the practice with lease extension legislation?

Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £400000 garden flat in Old Colwyn in nine days. The freeholder has quoted £420 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Old Colwyn?

Old Colwyn conveyancing on leasehold flats usually necessitates the buyer’s solicitor submitting questions for the landlord to answer. Although the landlord is not legally bound to address such questions most will be content to assist. They are entitled levy a reasonable charge for answering enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is over three hundred pounds, in some situations it is in excess of £800. The administration charge required by the landlord must be sent together with a summary of rights and obligations in relation to administration fees, otherwise the charge is technically not due. In reality one has little option but to pay whatever is requested of you if you want to complete the sale of your home.

Old Colwyn Leasehold Conveyancing - A selection of Questions you should ask Prior to buying

Who are the managing agents? Plenty Old Colwyn leasehold properties will have a service bill for the upkeep of the building levied on behalf of the management company. Should you buy the apartment you will have to pay this charge, normally periodically throughout the year. This may vary from two or three hundred pounds to thousands of pounds for buildings with lifts and large common areas. There will also be a ground rent for you to pay yearly, normally this is not a significant figure, say about £25-£75 but you need to check as occasionally it can be many hundreds of pounds. Be sure to investigate if there are any onerous prohibitions in the lease. By way of example plenty of leases prohibit pets being allowed in in a block in Old Colwyn. If you love the apartmentin Old Colwyn however your dog can’t move with you then you have a very hard decision.

Other Topics

Lease Extensions in Old Colwyn