Fixed-fee leasehold conveyancing in Porthcawl:

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Recently asked questions relating to Porthcawl leasehold conveyancing

Estate agents have just been given the go-ahead to market my ground floor apartment in Porthcawl.Conveyancing solicitors are to be appointed soon but I have just had a half-yearly service charge demand – what should I do?

Your conveyancing lawyer is likely to suggest that you should pay 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 management companies will not acknowledge the buyer until 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.

I am hoping to put an offer on a small detached house that seems to be perfect, at a great price which is making it more attractive. I have since found out that it's a leasehold rather than freehold. I am assuming that there are issues buying a leasehold house in Porthcawl. Conveyancing lawyers have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Porthcawl ?

The majority of houses in Porthcawl are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Porthcawl so you should seriously consider looking for a Porthcawl 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. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example requiring the landlord’spermission to conduct alterations. It may be necessary to pay a service charge towards the maintenance of the communal areas where the property is part of an estate. Your lawyer should report to you on the legal implications.

What are your top tips when it comes to choosing a Porthcawl conveyancing firm to deal with our lease extension?

If you are instructing a property lawyer for your lease extension (regardless if they are a Porthcawl conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with two or three firms including non Porthcawl conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

  • What volume of lease extensions have they completed in Porthcawl in the last twenty four months?
  • Can they put you in touch with client in Porthcawl who can give a testimonial?

    • Do you have any top tips for leasehold conveyancing in Porthcawl with the purpose of expediting the sale process?

    • Much of the delay in leasehold conveyancing in Porthcawl can be reduced if you get in touch lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold information which will be required by the purchasers’ conveyancers.
    • Many freeholders or managing agents in Porthcawl charge for providing management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Porthcawl.
  • A minority of Porthcawl leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the annual 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 solicitors.
  • If you have had conflict with your landlord or managing agents it is essential that these are settled before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is better to present the dispute as over rather than ongoing.
  • You believe that you know the number of years remaining on your lease but it would be advisable verify this via your conveyancers. A buyer’s lawyer will not be happy to advise their client to where the remaining number of years is below 80 years. In the circumstances it is essential at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • Are there frequently found defects that you see in leases for Porthcawl properties?

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

    • A provision to repair to or maintain parts of the premises
    • A duty to insure the building
    • 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

    A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, Virgin Money, and Nottingham Building Society 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 problematic they may refuse to grant the mortgage, obliging the purchaser to withdraw.

    Leasehold Conveyancing in Porthcawl - A selection of Questions you should ask Prior to buying

      How is the lease structured? It would be prudent to find out if there are any onerous restrictions in the lease. By way of example it is fairly common in Porthcawl leases that pets are not permitted in in a block in Porthcawl. If you like the flatin Porthcawl but your dog is not allowed to live with you then you will be presented with a difficult decision. Who are the managing agents?

    Other Topics

    Lease Extensions in Porthcawl