Fixed-fee leasehold conveyancing in Radyr:

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Any conveyancing solicitor can theoretically deal with your leasehold conveyancing in Radyr, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Examples of recent questions relating to leasehold conveyancing in Radyr

I have just started marketing my ground floor flat in Radyr.Conveyancing has not commenced but I have just received a half-yearly maintenance charge invoice – 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 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. This will smooth the conveyancing process.

I've found a house that appears to meet my requirements, at a reasonable price which is making it all the more appealing. I have since found out that it's a leasehold rather than freehold. I would have thought that there are issues buying a house with a leasehold title in Radyr. Conveyancing advisers have are about to be appointed. Will they explain the issues?

Most houses in Radyr are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. We note that you are purchasing in Radyr so you should seriously consider looking for a Radyr conveyancing solicitor and be sure that they are used to transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a lessee you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example requiring the landlord’spermission to conduct changes to the property. You may also be required to pay a service charge towards the upkeep of the estate where the property is part of an estate. Your lawyer should appraise you on the various issues.

Can you provide any top tips for leasehold conveyancing in Radyr from the point of view of saving time on the sale process?

  • Much of the frustration in leasehold conveyancing in Radyr can be reduced where you appoint lawyers the minute you market your property and request that they start to put together the leasehold documentation needed by the purchasers’ conveyancers.
  • Many landlords or Management Companies in Radyr levy fees for providing management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Radyr.
  • A minority of Radyr 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 financial (bank) and professional references. Any 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 lawyers.
  • If you have had any disputes with your freeholder 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 property where there is a current dispute. You may need to swallow your pride and pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is better to reveal the dispute as historic as opposed to unresolved.
  • If you hold a share in a the Management Company, you should make sure that you hold the original share certificate. Organising a duplicate share certificate can be a time consuming formality and frustrates many a Radyr conveyancing deal. Where a reissued share is needed, you should approach the company director and secretary or managing agents (where applicable) for this at the earliest opportunity.

    • Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £450000 apartment in Radyr next Wednesday . The landlords agents has quoted £420 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Radyr?

    Radyr conveyancing on leasehold flats often involves the buyer’s solicitor sending questions for the landlord to address. Although the landlord is not legally bound to address such questions most will be content to assist. They are at liberty levy a reasonable administration fee for responding to questions or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is over three hundred pounds, in some transactions it is above £800. The management information fee required by the landlord must be sent together with a summary of rights and obligations in respect of administration fees, without which the invoice is technically not due. In reality you have no option but to pay whatever is requested of you should you wish to complete the sale of your home.

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

    There is nothing unique about leasehold conveyancing in Radyr. Most leases are individual and legal mistakes in the legal wording can result in certain provisions are erroneous. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain elements 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

    You could have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Santander, The Royal Bank of Scotland, and Nottingham Building Society 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 defective they may refuse to provide security, forcing the purchaser to withdraw.

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

      Are there any major works anticipated that could increase the service charges? How long is the Lease? Most Radyr leasehold apartments will incur a service charge for the upkeep of the building set on behalf of the landlord. Where you buy the apartment you will have to pay this contribution, normally quarterly accross the year. This could differ from several hundred pounds to thousands of pounds for bigger purpose-built buildings. In all probability there will be a rentcharge to be met annual, this is usually not a exorbitant figure, say about £50-£100 but you should to check it because on occasion it can be prohibitively expensive.

    Other Topics

    Lease Extensions in Radyr