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When it comes to leasehold conveyancing in Porthmadog, you will need to instruct a conveyancing lawyer with leasehold experience. Whether your mortgage company is to be Santander, Yorkshire Building Society or Bradford & Bingley make sure you find a lawyer on their approved list. Feel free to use our search tool

Frequently asked questions relating to Porthmadog leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Porthmadog. Before diving in I would like to find out the remaining lease term.

If the lease is recorded at the land registry - and most are in Porthmadog - 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.

My husband and I may need to sub-let our Porthmadog basement flat temporarily due to a career opportunity. We used a Porthmadog conveyancing firm in 2001 but they have since shut and we did not have the foresight to seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?

Even though your previous Porthmadog conveyancing solicitor is no longer around you can check your lease to check if it allows you to sublet the property. The rule is that if the lease is silent, subletting is permitted. There may be a precondition that you must seek permission via your landlord or other appropriate person prior to subletting. This means you not allowed to sublet without prior permission. The consent must not not be unreasonably withheld. If the lease prohibits you from letting out the property you will need to ask your landlord for their consent.

I am looking at a couple of maisonettes in Porthmadog both have in the region of forty five years unexpired on the lease term. 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 marketability of the lease reduces and results in it becoming more costly to acquire a lease extension. This is why it is often a good idea to extend the lease term. It is often difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We recommend you seek professional help from a solicitor and surveyor with experience in this area

Can you offer any advice when it comes to appointing a Porthmadog conveyancing firm to deal with our lease extension?

If you are instructing a solicitor for lease extension works (regardless if they are a Porthmadog conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We suggested that you make enquires with several firms including non Porthmadog conveyancing practices prior to 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?
  • What are the legal fees for lease extension conveyancing?

    • Can you provide any advice for leasehold conveyancing in Porthmadog from the perspective of expediting the sale process?

    • Much of the frustration in leasehold conveyancing in Porthmadog can be bypassed if you get in touch lawyers the minute you market your property and request that they start to collate the leasehold information which will be required by the buyers solicitors.
    • Many freeholders or Management Companies in Porthmadog levy fees for supplying management packs for a leasehold homes. You or your lawyers should enquire as to the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Porthmadog.
  • In the event that you altered the property did you need the Landlord’s permission? Have you, for example laid down wooden flooring? Most leases in Porthmadog state that internal structural alterations or laying down wooden flooring necessitate a licence issued by the Landlord approving such changes. Where you dont have the consents to hand you should not contact the landlord without checking with your solicitor before hand.
  • Some Porthmadog leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers put in hand bank and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying the yearly 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 lawyers.
  • You believe that you know the number of years remaining on your lease but it would be wise to double-check via your conveyancers. A purchaser's lawyer will be unlikely to recommend their client to where the lease term is below 80 years. It is therefore important 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.

    • Porthmadog Leasehold Conveyancing - A selection of Questions you should ask before buying

      Does the lease have in excess of 90 years unexpired? Most Porthmadog leasehold flats will have a service charge for the upkeep of the building set on behalf of the landlord. If you acquire the property you will have to pay this amount, usually periodically accross the year. This could differ from several hundred pounds to thousands of pounds for blocks with lifts and large common grounds. In all likelihood there will be a rentcharge to be met yearly, this is usually not a large sum, say about £50-£100 but you should to check it because occasionally it can be many hundreds of pounds. It is important to be aware whether changing the roof or some other significant cost is anticipated that will be shared amongst the tenants and will dramatically impact the level of the maintenance charges or result in a specific invoice.

    Other Topics

    Lease Extensions in Porthmadog