Having had my offer accepted I require leasehold conveyancing in Radyr. Before diving in I require certainty as to the unexpired term of the lease.

If the lease is registered - and almost all are in Radyr - then the leasehold title will always include the short particulars 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.

I've found a house that seems to tick a lot of boxes, at a great price which is making it all the more appealing. I have since found out that it's a leasehold as opposed to freehold. I am assuming that there are issues purchasing a leasehold house in Radyr. Conveyancing advisers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Radyr ?

The majority of houses in Radyr are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. It is clear that you are purchasing in Radyr in which case you should be shopping around for a Radyr 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 unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as requiring the freeholder’sconsent to carry out alterations. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the house is located on an estate. Your conveyancer will appraise you on the various issues.

I am tempted by the attractive purchase price for a two flats in Radyr both have in the region of forty five years remaining on the lease term. Do I need to be concerned?

There are no two ways about it. A leasehold flat in Radyr is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it reduces the salability of the property. The majority of purchasers and lenders, leases with less than 75 years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Radyr conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

I am employed by a long established estate agency in Radyr where we see a number of leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have received contradictory information from local Radyr conveyancing firms. Could you clarify whether the seller of a flat can instigate the lease extension process for the buyer?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.

An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

If all goes to plan we aim to complete the disposal of our £ 175000 apartment in Radyr next Tuesday . The managing agents has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Radyr?

Radyr conveyancing on leasehold flats usually requires the purchaser’s conveyancer sending enquiries for the landlord to answer. Although the landlord is not legally bound to answer such questions most will be content to do so. They may levy a reasonable charge for responding to questions or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is over three hundred pounds, in some situations it is above £800. The administration charge invoiced by the landlord must be sent together with a summary of rights and obligations in respect of administration charges, otherwise the charge is technically not due. In reality you have no option but to pay whatever is demanded if you want to complete the sale of your home.

I purchased a garden flat in Radyr, conveyancing was carried out 10 years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent properties in Radyr with over 90 years remaining are worth £216,000. The ground rent is £55 yearly. The lease ceases on 21st October 2098

With just 72 years unexpired we estimate the premium for your lease extension to range between £11,400 and £13,200 plus legals.

The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.