Pentyrch leasehold conveyancing: Q and A’s
Having had my offer accepted I require leasehold conveyancing in Pentyrch. Before I get started I want to be sure as to the unexpired term of the lease.
Assuming the lease is registered - and most are in Pentyrch - 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.
Looking forward to exchange soon on a leasehold property in Pentyrch. Conveyancing lawyers have said that they are sending me a report tomorrow. What should I be looking out for?
The report on title for your leasehold conveyancing in Pentyrch should include some of the following:
- Are you allowed to have a pet in the flat?
- You need to be told what counts as a Nuisance in the lease
- Ground rent - how much and when you need to pay, and also know whether this is subject to change
- Whether your lease has a provision for a reserve fund?
- Changes to the flat (alterations and additions)
- The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
- The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
Estate agents have just been given the go-ahead to market my garden apartment in Pentyrch.Conveyancing is yet to be initiated but I have just had a yearly maintenance charge demand – should I leave it to the buyer to sort out?
The sensible thing to do is discharge the invoice 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. Having a clear account will assist your cause and will leave you no worse off financially.
Back In 2005, I bought a leasehold house in Pentyrch. Conveyancing and Leeds Building Society mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1996. The conveyancing practitioner in Pentyrch who acted for me is not around.What should I do?
The first thing you should do is contact the Land Registry to make sure that the individual claiming to own the freehold is indeed the new freeholder. There is no need to incur the fees of a Pentyrch conveyancing firm to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am attracted to a couple of apartments in Pentyrch which have about forty five years unexpired on the lease term. Should I regard a short lease as a deal breaker?
A lease is a right to use the premises for a period of time. As the lease shortens the value of the lease reduces and results in it becoming more expensive to acquire a lease extension. This is why it is often a good idea to increase the term of the lease. It is often difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease enfranchisement can be a protracted process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this field
Pentyrch Leasehold Conveyancing - Sample of Queries before buying
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What restrictions are there in the Pentyrch Lease?
How much is the ground rent and service charge?
Make sure you investigate if the the lease includes any unreasonable restrictions in the lease. For example it is fairly common in Pentyrch leases that pets are not allowed in in a block in Pentyrch. If you like the apartmentin Pentyrch however your dog is not allowed to live with you then you will be presented with a difficult compromise.