Common questions relating to Pantymwyn leasehold conveyancing
I have recently realised that I have 68 years remaining on my lease in Pantymwyn. I need to get lease extension but my landlord is absent. 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 submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. You will be obliged to demonstrate that you or your lawyers have used your best endeavours to track down the lessor. In some cases an enquiry agent should be useful to conduct investigations and prepare a report which can be used as proof that the freeholder can not be located. It is wise to seek advice from a solicitor in relation to devolving into the landlord’s disappearance and the vesting order request to the County Court overseeing Pantymwyn.
I have just appointed agents to market my 2 bed flat in Pantymwyn.Conveyancing lawyers have not yet been instructed but I have just had a quarterly service charge invoice – should I leave it to the buyer to sort out?
It best that you discharge the invoice 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 managing agents 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. Having a clear account will assist your cause and will leave you no worse off financially.
I've recently bought a leasehold property in Pantymwyn. 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. A critical element 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).
I work for a long established estate agent office in Pantymwyn where we see a number of flat sales derailed as a result of leases having less than 80 years remaining. I have been given conflicting advice from local Pantymwyn conveyancing solicitors. Can you shed some light as to whether the owner of a flat can initiate the lease extension process for the buyer?
As long as the seller has owned the lease 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. This means that the buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.
An alternative approach is to agree the lease extension with the freeholder 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.
If all goes to plan we aim to complete the sale of our £475000 garden flat in Pantymwyn on Monday in a week. The management company has quoted £300 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Pantymwyn?
Pantymwyn conveyancing on leasehold flats nine out of ten times involves administration charges raised by managing agents :
- Completing pre-contract enquiries
- Where consent is required before sale in Pantymwyn
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Pantymwyn Conveyancing for Leasehold Flats - Examples of Queries Prior to buying
Who takes charge for maintaining and repairing the block?
On the whole the outlay for major works are not included within maintenance charges, albeit that some managing agents in Pantymwyn ask leasehold owners to contribute towards a sinking fund and this is used to offset against major repairs or maintenance.
Is anyone aware of any major works on the horizon that will add a premium to the service fees?