Top Five Questions relating to Pentyrch leasehold conveyancing
My husband and I may need to let out our Pentyrch basement flat for a while due to a new job. We instructed a Pentyrch conveyancing practice in 2002 but they have closed and we did not have the foresight to get any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
Some leases for properties in Pentyrch do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably withhold but, in such cases, they would need to see 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.
I've found a house that seems to meet my requirements, at a reasonable price which is making it all the more appealing. I have just found out that it's a leasehold rather than freehold. I am assuming that there are issues purchasing a house with a leasehold title in Pentyrch. Conveyancing advisers have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Pentyrch ?
The majority of houses in Pentyrch are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. It is clear that you are purchasing in Pentyrch so you should seriously consider shopping around for a Pentyrch conveyancing solicitor and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as requiring the freeholder’sconsent to carry out changes to the property. It may be necessary to pay a service charge towards the maintenance of the communal areas where the property is located on an estate. Your conveyancer will advise you fully on all the issues.
My wife and I purchased a leasehold flat in Pentyrch. Conveyancing and Barnsley Building Society mortgage are in place. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1998. The conveyancing solicitor in Pentyrch who acted for me is not around.What should I do?
First contact the Land Registry to be sure that this person is in fact the new freeholder. You do not need to instruct a Pentyrch conveyancing practitioner to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Last month I purchased a leasehold property in Pentyrch. Am I liable to pay service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
What makes a Pentyrch lease unacceptable for security purposes?
Leasehold conveyancing in Pentyrch is not unique. All leases are unique and drafting errors can sometimes mean that certain provisions are not included. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain elements of the building
- Insurance obligations
- A provision for the recovery of money spent for the benefit of another party.
- Service charge per centages that don't add up correctly leaving a shortfall
You will have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, Leeds Building Society, and TSB 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 pull out.
Pentyrch Leasehold Conveyancing - Sample of Questions you should ask before buying
It would be wise to investigate if there is anything that is prohibited in the lease. For instance it is reasonably common in Pentyrch leases that pets are not allowed in certain buildings in Pentyrch. If you love the propertyin Pentyrch however your dog is not allowed to move with you then you will be presented with a hard determination.
Many Pentyrch leasehold apartments will be liable to pay a service charge for maintenance of the building invoiced by the management company. If you acquire the property you will have to meet this contribution, usually periodically accross the year. This can vary from several hundred pounds to thousands of pounds for buildings with lifts and large common grounds. In all likelihood there will be a rentcharge to be met yearly, this is usually not a large figure, say about £50-£100 but you need to enquire as occasionally it can be prohibitively expensive.
What is the annual maintenance fee and ground rent?