Top Five Questions relating to Pencoed leasehold conveyancing
My fiance and I may need to rent out our Pencoed basement flat temporarily due to a career opportunity. We instructed a Pencoed conveyancing practice in 2004 but they have since shut and we did not have the foresight to get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
A small minority of properties in Pencoed do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably withhold but, in such cases, they would need to review 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 permission.
Having checked my lease I have discovered that there are only Seventy years left on my lease in Pencoed. I need to get lease extension but my freeholder is absent. What should I do?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. You will be obliged to demonstrate that you or your lawyers have done all that could be expected to find the landlord. In some cases a specialist may be useful to try and locate and prepare a report which can be used as proof that the freeholder is indeed missing. It is wise to seek advice from a solicitor both on devolving into the landlord’s disappearance and the application to the County Court covering Pencoed.
I today plan to offer on a house that appears to tick a lot of boxes, at a great figure which is making it all the more appealing. I have just been informed that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a leasehold house in Pencoed. Conveyancing advisers have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Pencoed ?
Most houses in Pencoed are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. it is apparent that you are buying in Pencoed so you should seriously consider looking for a Pencoed conveyancing practitioner and check that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as obtaining the landlord’spermission to conduct changes to the property. You may also be required to pay a service charge towards the upkeep of the estate where the house is located on an estate. Your solicitor should report to you on the legal implications.
My wife and I purchased a leasehold house in Pencoed. Conveyancing and Aldermore mortgage organised. I have received a letter from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1991. The conveyancing solicitor in Pencoed who previously acted has now retired.Any advice?
The first thing you should do is contact HMLR to make sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a Pencoed conveyancing solicitor to do this as you can do this on the Land Registry website for £3. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
When it comes to leasehold conveyancing in Pencoed what are the most common lease defects?
There is nothing unique about leasehold conveyancing in Pencoed. Most leases are individual and drafting errors can sometimes mean that certain sections are erroneous. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain elements of the property
- 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 problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, The Royal Bank of Scotland, and Barclays Direct all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, forcing the buyer to pull out.
Pencoed Conveyancing for Leasehold Flats - Examples of Questions you should ask before Purchasing
This information is important as a) areas may result in problems for the building as the communal areas may start to deteriorate if repairs are not paid for b) if the tenants have a dispute with the managing agents you will need to know about it
For many Pencoed leaseholds the cost for major works tend not to be included within service charges, although a few managing agents in Pencoed obliged leasehold owners to contribute towards a reserve fund and this is used to offset against major repairs or maintenance.
What is the name of the managing agents?