Guaranteed fixed fees for Leasehold Conveyancing in Pwllheli

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Pwllheli leasehold conveyancing Example Support Desk Enquiries

I wish to rent out my leasehold flat in Pwllheli. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

A lease dictates relations between the landlord and you the leaseholder; in particular, it will set out if subletting is prohibited, or permitted but only subject to certain conditions. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. The majority of leases in Pwllheli do not prevent strict prohibition on subletting – such a clause would undoubtedly devalue the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly sending a copy of the sublease.

I am looking at a two flats in Pwllheli both have approximately forty five years left on the leases. Will this present a problem?

A lease is a right to use the property for a period of time. As a lease gets shorter the saleability of the lease decreases and it becomes more expensive to acquire a lease extension. This is why it is advisable to extend the lease term. More often than not it is difficult to sell a property with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We recommend you seek professional help from a conveyancer and surveyor with experience in this arena

Last month I purchased a leasehold flat in Pwllheli. Do I have any liability for service charges for periods before my ownership?

In a situation where the service charge has already been demanded from the previous owner 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).

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

When appointing a solicitor for your lease extension (regardless if they are a Pwllheli conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with two or three firms including non Pwllheli conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be helpful:

  • If the firm is not ALEP accredited then what is the reason?
  • What are the charges for lease extension conveyancing?

    • Can you provide any advice for leasehold conveyancing in Pwllheli with the aim of saving time on the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Pwllheli can be bypassed if you instruct lawyers the minute you market your property and request that they start to put together the leasehold information needed by the purchasers’ solicitors.
    • The majority freeholders or Management Companies in Pwllheli levy fees for providing management packs for a leasehold homes. You or your lawyers should enquire as to the fee that they propose to charge. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Pwllheli.
  • 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 Pwllheli state that internal structural changes or addition of wooden flooring calls for a licence issued by the Landlord approving such works. Where you dont have the paperwork to hand do not contact the landlord without checking with your lawyer in the first instance.
  • Some Pwllheli leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. The bank reference should make it clear that the buyer is 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 buyers or their solicitors.
  • If you have the benefit of shareholding in the freehold, you should make sure that you are holding the original share certificate. Obtaining a replacement share certificate is often a lengthy formality and frustrates many a Pwllheli home move. Where a new share is needed, you should approach the company officers or managing agents (where applicable) for this at the earliest opportunity.

    • I invested in buying a ground floor flat in Pwllheli, conveyancing having been completed in 2002. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Pwllheli with over 90 years remaining are worth £230,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease comes to an end on 21st October 2084

    With only 59 years left to run we estimate the price of your lease extension to be between £20,000 and £23,000 plus plus your own and the landlord's "reasonable" professional fees.

    The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed investigations. Do not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Pwllheli