Having checked my lease I have discovered that there are only Sixty One years remaining on my lease in Porthcawl. I now want to get lease extension but my freeholder is can not be found. What options are available to me?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. However, you will be required to prove that you or your lawyers have made all reasonable attempts to locate the freeholder. For most situations an enquiry agent would be helpful to carry out a search and prepare an expert document which can be accepted by the court as evidence that the freeholder can not be located. It is advisable to get professional help from a property lawyer in relation to proving the landlord’s absence and the application to the County Court covering Porthcawl.

I am hoping to complete next month on a basement flat in Porthcawl. Conveyancing lawyers inform me that they will have a report out to me next week. What should I be looking out for?

The report on title for your leasehold conveyancing in Porthcawl should include some of the following:

• The unexpired lease term You should be advised as what happens when the lease expires, and aware of the importance of the 80 year mark
• Setting out your legal entitlements in respect of the communal areas in the block.By way of example, does the lease grant a right of way over a path or staircase?
• Does the lease require carpeting throughout thus preventing wood flooring?
• Does the lease prevent you from letting out the property, or working from home
• Ground rent - how much and when you need to pay, and also know whether this will change in the future
• Whether your lease has a provision for a reserve fund?
• You should have a good understanding of the insurance provisions

I today plan to offer on a house that seems to be perfect, at a reasonable figure which is making it all the more appealing. I have just discovered that it's a leasehold as opposed to freehold. I am assuming that there are issues purchasing a leasehold house in Porthcawl. Conveyancing solicitors have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Porthcawl ?

The majority of houses in Porthcawl are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. It is clear that you are purchasing in Porthcawl so you should seriously consider looking for a Porthcawl conveyancing practitioner and check that they have experience in transacting on 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 to the property. The lease will likely included provisions such as requiring the freeholder’sconsent to conduct alterations. It may be necessary to pay a contribution towards the maintenance of the communal areas where the house is part of an estate. Your solicitor will report to you on the legal implications.

I've recently bought a leasehold house in Porthcawl. Do I have any liability for 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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure 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 are the frequently found deficiencies that you see in leases for Porthcawl properties?

There is nothing unique about leasehold conveyancing in Porthcawl. All leases is drafted differently and drafting errors can sometimes mean that certain provisions are missing. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain elements of the property
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

You could encounter 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. National Westminster Bank, Leeds Building Society, and Aldermore all have express conveyancing instructions 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 provide security, forcing the purchaser to withdraw.

Porthcawl Leasehold Conveyancing - Examples of Queries Prior to buying

Are any of leasehold owners in arrears of their service charge liability?