Sample questions relating to Pentwyn leasehold conveyancing
I would like to let out my leasehold apartment in Pentwyn. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?
Your lease dictates the relationship between the landlord and you the flat owner; in particular, it will say if subletting is prohibited, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. The majority of leases in Pentwyn do not contain an absolute prevention of subletting – such a provision would adversely affect the market value the property. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a duplicate of the sublease.
I have just started marketing my garden flat in Pentwyn.Conveyancing solicitors are to be appointed soon but I have just received a yearly service charge invoice – Do I pay up?
The sensible thing to do is discharge 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.
Back In 2004, I bought a leasehold house in Pentwyn. Conveyancing and Alliance & Leicester mortgage organised. I have received a letter from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1991. The conveyancing practitioner in Pentwyn who acted for me is not around.Any advice?
First contact HMLR to make sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a Pentwyn conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am employed by a reputable estate agent office in Pentwyn where we have experienced a number of leasehold sales put at risk as a result of leases having less than 80 years remaining. I have received conflicting advice from local Pentwyn conveyancing firms. Can you shed some light as to whether the vendor of a flat can commence the lease extension process for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 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 disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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 purchaser.
Do you have any advice for leasehold conveyancing in Pentwyn with the purpose of speeding up the sale process?
- A significant proportion of the delay in leasehold conveyancing in Pentwyn can be avoided if you get in touch lawyers the minute your agents start advertising the property and ask them to collate the leasehold documentation needed by the buyers lawyers.
- The majority landlords or managing agents in Pentwyn charge for supplying management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management pack sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common reason for delay in leasehold conveyancing in Pentwyn.
I own a leasehold flat in Pentwyn, conveyancing having been completed 2001. Can you work out an approximate cost of a lease extension? Similar properties in Pentwyn with a long lease are worth £234,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease terminates on 21st October 2086
With just 63 years remaining on your lease the likely cost is going to be between £17,100 and £19,800 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive due diligence. You should 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 seeking the advice of a professional.