Pantymwyn leasehold conveyancing Example Support Desk Enquiries
Estate agents have just been given the go-ahead to market my ground floor apartment in Pantymwyn.Conveyancing lawyers have not yet been instructed but I have just had a half-yearly maintenance charge invoice – Do I pay up?
It best that you clear 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 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. This will smooth the conveyancing process.
I today plan to offer on a house that seems to be perfect, at a great price which is making it more attractive. I have since been informed that it's a leasehold rather than freehold. I would have thought that there are particular concerns buying a leasehold house in Pantymwyn. Conveyancing lawyers have are about to be instructed. Will they explain the issues?
Most houses in Pantymwyn are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. We note that you are buying in Pantymwyn in which case you should be looking for a Pantymwyn conveyancing solicitor and be sure that they are used to advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’sconsent to carry out changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the house is located on an estate. Your solicitor should advise you fully on all the issues.
I am looking at a couple of maisonettes in Pantymwyn which have in the region of fifty years unexpired on the lease term. Do I need to be concerned?
There are plenty of short leases in Pantymwyn. The lease is a legal document that entitles you to use the premises for a period of time. As the lease gets shorter the value of the lease deteriorate and it becomes more costly to extend the lease. This is why it is advisable to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease because mortgage lenders may be unwilling to lend money on such properties. Lease enfranchisement can be a difficult process. We advise that you seek professional help from a solicitor and surveyor with experience in this field
What advice can you give us when it comes to choosing a Pantymwyn conveyancing firm to carry out our lease extension conveyancing?
When appointing a property lawyer for lease extension works (regardless if they are a Pantymwyn conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you talk with two or three firms including non Pantymwyn conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be useful:
- How many lease extensions has the firm completed in Pantymwyn in the last 12 months?
We expect to complete the sale of our £425000 garden flat in Pantymwyn next Monday . The managing agents has quoted £348 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Pantymwyn?
Pantymwyn conveyancing on leasehold flats usually involves administration charges invoiced by landlords agents :
- Completing pre-exchange questions
- 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
I own a 2 bed flat in Pantymwyn, conveyancing formalities finalised 7 years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Pantymwyn with over 90 years remaining are worth £185,000. The average or mid-range amount of ground rent is £60 invoiced every year. The lease comes to an end on 21st October 2097
You have 77 years remaining on your lease the likely cost is going to be between £8,600 and £9,800 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional concerns 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.