I am on look out for some leasehold conveyancing in Pentwyn. Before I set the wheels in motion I would like to find out the remaining lease term.

Assuming the lease is recorded at the land registry - and 99.9% are in Pentwyn - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I own a leasehold flat in Pentwyn. Conveyancing and Skipton Building Society mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1997. The conveyancing solicitor in Pentwyn who previously acted has long since retired.What should I do?

The first thing you should do is contact HMLR to be sure that the individual claiming to own the freehold is in fact the new freeholder. It is not necessary to instruct a Pentwyn conveyancing solicitor to do this as it can be done on-line for £3. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am looking at a couple of apartments in Pentwyn which have about forty five years left on the leases. Should I regard a short lease as a deal breaker?

A 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 decreases and results in it becoming more costly to acquire a lease extension. This is why it is generally wise to extend the lease term. It is often difficulties arise selling premises with a short lease as mortgage lenders may be reluctant to lend money on properties of this type. Lease extension can be a difficult process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this field

Can you offer any advice when it comes to appointing a Pentwyn conveyancing firm to carry out our lease extension conveyancing?

When appointing a solicitor for lease extension works (regardless if they are a Pentwyn conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We suggested that you talk with two or three firms including non Pentwyn conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:

• How familiar is the practice with lease extension legislation?

Are there frequently found deficiencies that you come across in leases for Pentwyn properties?

Leasehold conveyancing in Pentwyn is not unique. Most leases are unique and drafting errors can result in certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain parts of the premises
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Leeds Building Society, and Alliance & Leicester 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 defective they may refuse to provide security, obliging the buyer to withdraw.

Pentwyn Leasehold Conveyancing - Sample of Questions you should ask Prior to Purchasing

Best to be warned if window replacement or some other major work is anticipated to be shared between the leaseholders and will dramatically impact the level of the maintenance costs or result in a specific payment. Does the lease include onerous restrictions? It would be prudent to find out as much as you can concerning the company managing the building as they will affect your use and enjoyment of the property. As the owner of a leasehold property you are often in the clutches of the managing agents both financially and when it comes to every day matters like the tidiness of the communal areas. Ask other people whether they are happy with them. In conclusion, find out the dates that you are obliged pay the service charge to the relevant party and specifically how they are spending the funds.

Other Topics

Lease Extensions in Pentwyn