Experts for Leasehold Conveyancing in Pentwyn

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Any conveyancing practice can theoretically handle your leasehold conveyancing in Pentwyn, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Sample questions relating to Pentwyn leasehold conveyancing

Helen (my wife) and I may need to let out our Pentwyn basement flat temporarily due to a new job. We instructed a Pentwyn conveyancing firm in 2001 but they have closed and we did not have the foresight to seek any advice as to whether the lease prohibits the subletting of the flat. How do we find out?

Notwithstanding that your previous Pentwyn conveyancing lawyer is no longer around you can review your lease to see if you are permitted to let out the property. The accepted inference is that if the lease is silent, subletting is permitted. There may be a precondition that you must seek consent from your landlord or other appropriate person before subletting. This means that you cannot sublet in the absence of prior consent. The consent should not be unreasonably refused ore delayed. If the lease does not allow you to sublet you will need to ask your landlord for their consent.

Having checked my lease I have discovered that there are only 72 years unexpired on my flat in Pentwyn. I need to extend my lease but my landlord is missing. What are my options?

On the basis that 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 lengthened by the magistrate. You will be obliged to demonstrate that you have used your best endeavours to track down the landlord. For most situations a specialist should be helpful to try and locate and to produce an expert document to be accepted by the court as evidence that the landlord can not be located. It is wise to seek advice from a property lawyer both on investigating the landlord’s absence and the vesting order request to the County Court covering Pentwyn.

I am tempted by the attractive purchase price for a couple of apartments in Pentwyn which have approximately fifty years left on the leases. should I be concerned?

A lease is a right to use the property for a period of time. As a lease gets shorter the saleability of the lease reduces and it becomes more costly to acquire a lease extension. For this reason it is generally wise to increase the term of the lease. It is often difficulties arise selling premises with a short lease as mortgage companies may be reluctant to lend money on properties of this type. Lease enfranchisement can be a protracted process. We advise that you seek professional help from a conveyancer and surveyor with experience in this field

Do you have any advice for leasehold conveyancing in Pentwyn from the point of view of speeding up the sale process?

  • Much of the delay in leasehold conveyancing in Pentwyn can be reduced if you get in touch lawyers as soon as your agents start marketing the property and request that they start to collate the leasehold information needed by the purchasers’ lawyers.
  • Many freeholders or Management Companies in Pentwyn charge for supplying management packs for a leasehold premises. You or your lawyers should enquire as to the fee that they propose to charge. The management pack can be applied for on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Pentwyn.
  • If you have carried out any alterations to the premises would they have required Landlord’s approval? Have you, for example laid down wooden flooring? Pentwyn leases often stipulate that internal structural alterations or installing wooden flooring necessitate a licence issued by the Landlord consenting to such works. Where you dont have the consents to hand do not communicate with the landlord without checking with your lawyer in advance.
  • Some Pentwyn leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain bank and professional references. The bank reference will need to confirm that the buyers are able to meet the yearly 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 lawyers.
  • If you hold a share in a the freehold, you should make sure that you hold the original share certificate. Obtaining a replacement share certificate can be a lengthy formality and frustrates many a Pentwyn conveyancing transaction. Where a duplicate share is necessary, you should approach the company director and secretary or managing agents (where applicable) for this at the earliest opportunity.

    • We expect to complete the sale of our £400000 garden flat in Pentwyn next week. The freeholder has quoted £372 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Pentwyn?

    Pentwyn conveyancing on leasehold maisonettes usually necessitates the purchaser’s conveyancer sending enquiries for the landlord to answer. Although the landlord is not legally bound to answer these enquiries most will be content to do so. They are entitled charge a reasonable administration fee for answering questions or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is £350, in some cases it is above £800. The management information fee levied by the landlord must be accompanied by a synopsis of rights and obligations in relation to administration charges, otherwise the invoice is technically not due. Reality however dictates that one has no choice but to pay whatever is requested of you should you wish to complete the sale of your home.

    I acquired a leasehold flat in Pentwyn, conveyancing having been completed in 2008. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Pentwyn with over 90 years remaining are worth £232,000. The average or mid-range amount of ground rent is £60 invoiced every year. The lease ceases on 21st October 2081

    With just 55 years remaining on your lease the likely cost is going to be between £27,600 and £31,800 as well as plus your own and the landlord's "reasonable" professional fees.

    The figure above a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.

    Other Topics

    Lease Extensions in Pentwyn