Having checked my lease I have discovered that there are only 72 years left on my lease in Radyr. I am keen to get lease extension but my freeholder is absent. What are my options?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to locate the landlord. In some cases a specialist may be helpful to carry out a search and to produce an expert document to be accepted by the court as proof that the freeholder is indeed missing. It is wise to seek advice from a solicitor in relation to investigating the landlord’s disappearance and the vesting order request to the County Court covering Radyr.

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 since been informed that it's a leasehold rather than freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Radyr. Conveyancing lawyers have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Radyr ?

The majority of houses in Radyr are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help 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 have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’spermission to carry out alterations. It may be necessary to pay a contribution towards the upkeep of the communal areas where the house is located on an estate. Your solicitor should advise you fully on all the issues.

I am tempted by the attractive purchase price for a two apartments in Radyr both have about forty five years remaining on the leases. should I be concerned?

There are plenty of short leases in Radyr. The lease is a right to use the premises for a period of time. As a lease gets shorter the value of the lease decreases and it becomes more expensive to acquire a lease extension. For this reason it is advisable to extend the lease term. More often than not it is difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this field

I am employed by a reputable estate agent office in Radyr where we have witnessed a number of leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have been given conflicting advice from local Radyr conveyancing solicitors. Can you clarify whether the vendor of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as 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.

Do you have any top tips for leasehold conveyancing in Radyr from the perspective of saving time on the sale process?

• A significant proportion of the delay in leasehold conveyancing in Radyr can be bypassed where you get in touch lawyers the minute your agents start advertising the property and ask them to collate the leasehold information which will be required by the purchasers’ representatives.
• If you have carried out any alterations to the residence would they have required Landlord’s permission? In particular have you laid down wooden flooring? Most leases in Radyr state that internal structural alterations or addition of wooden flooring necessitate a licence from the Landlord approving such alterations. Where you dont have the consents in place do not communicate with the landlord without checking with your conveyancer first.
• A minority of Radyr leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is able to meet 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 solicitors.
• If you have the benefit of shareholding in the Management Company, you should ensure that you have the original share document. Obtaining a new share certificate is often a time consuming formality and delays many a Radyr home move. Where a new share certificate is necessary, you should approach the company officers or managing agents (if relevant) for this as soon as possible.
• You may think that you are aware of the number of years left on your lease but you should verify this by asking your lawyers. A purchaser's lawyer will be unlikely to recommend their client to to exchange contracts if the lease term is less than 80 years. In the circumstances it is essential at an as soon as possible that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

Radyr Conveyancing for Leasehold Flats - Sample of Questions you should consider Prior to Purchasing

How many of the leaseholders are in arrears for their service charge payments?