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Questions and Answers: Pantymwyn leasehold conveyancing

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

Your lease governs the relationship between the freeholder and you the flat owner; specifically, it will indicate if subletting is not allowed, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is permitted. The majority of leases in Pantymwyn do not prevent an absolute prevention of subletting – such a provision would adversely affect the market value the flat. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.

I today plan to offer on a house that appears to tick a lot of boxes, at a great price which is making it more attractive. I have since found out that the title is leasehold rather than freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Pantymwyn. Conveyancing lawyers have are soon to be appointed. Will they explain the issues?

The majority of houses in Pantymwyn are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are purchasing in Pantymwyn so you should seriously consider shopping around for a Pantymwyn conveyancing solicitor and be sure that they have experience in transacting 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 will likely included provisions for example requiring the landlord’sconsent to carry out alterations. It may be necessary to pay a maintenance charge towards the upkeep of the communal areas where the house is part of an estate. Your solicitor should report to you on the legal implications.

What advice can you give us when it comes to appointing a Pantymwyn conveyancing practice to deal with our lease extension?

If you are instructing a solicitor for lease extension works (regardless if they are a Pantymwyn conveyancing firm) it is imperative that they 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 might be of use:

  • What volume of lease extensions have they carried out in Pantymwyn in the last 12 months?
  • What are the costs for lease extension work?

    • Can you provide any advice for leasehold conveyancing in Pantymwyn from the point of view of speeding up the sale process?

    • Much of the frustration in leasehold conveyancing in Pantymwyn can be avoided where you get in touch lawyers the minute your agents start advertising the property and request that they start to put together the leasehold information which will be required by the buyers representatives.
    • If you have carried out any alterations to the premises would they have required Landlord’s consent? Have you, for example installed wooden flooring? Pantymwyn leases often stipulate that internal structural alterations or laying down wooden flooring calls for a licence from the Landlord consenting to such alterations. Where you fail to have the consents in place do not contact the landlord without checking with your conveyancer in advance.
  • Some Pantymwyn leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference should make it clear that the buyer is able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.
  • If you have had conflict with your freeholder or managing agents it is essential that these are settled before the property is marketed. The buyers and their solicitors will be nervous about purchasing a property where there is a current dispute. You may have to bite the bullet and discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is clearly preferable to present the dispute as over rather than ongoing.
  • If you hold a share in a the Management Company, you should ensure that you are holding the original share certificate. Arranging a new share certificate can be a time consuming formality and slows down many a Pantymwyn home move. Where a duplicate share certificate is required, do contact the company director and secretary or managing agents (if relevant) for this as soon as possible.

    • What makes a Pantymwyn lease defective?

    Leasehold conveyancing in Pantymwyn is not unique. All leases is drafted differently and drafting errors can result in certain provisions are wrong. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain parts of the building
    • A duty to insure the building
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Service charge per centages that don't add up correctly leaving a shortfall

    A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Yorkshire Building Society, Bank of Scotland, and Platform Home Loans Ltd all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the buyer to pull out.

    Pantymwyn Conveyancing for Leasehold Flats - Examples of Questions you should ask before Purchasing

      This question is useful as a) areas may cause problems for the block as the common areas may start to deteriorate if repairs are not paid for b) if the tenants have a dispute with the running of the building you will need to have all the details Best to be warned whether changing the roof or some other significant cost is due shortly to be shared by the tenants and could well dramatically increase the the maintenance costs or result in a specific payment. Is anyone aware of any major works in the planning that will add a premium to the service costs?

    Other Topics

    Lease Extensions in Pantymwyn