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Common questions relating to Radyr leasehold conveyancing

I am on look out for some leasehold conveyancing in Radyr. Before I set the wheels in motion I require certainty as to the number of years remaining on the lease.

If the lease is recorded at the land registry - 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’m about to sell my 2 bed apartment in Radyr.Conveyancing is yet to be initiated but I have just had a half-yearly maintenance charge invoice – should I leave it to the buyer to sort out?

It best that you discharge 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 management companies 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. Having a clear account will assist your cause and will leave you no worse off financially.

My wife and I purchased a leasehold house in Radyr. Conveyancing and Accord Mortgages Ltd mortgage organised. A letter has just been received from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1991. The conveyancing solicitor in Radyr who acted for me is not around.What should I do?

The first thing you should do is contact HMLR to make sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. You do not need to instruct a Radyr conveyancing lawyer to do this as it can be done on-line for £3. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

Do you have any top tips for leasehold conveyancing in Radyr with the purpose of speeding up the sale process?

  • Much of the frustration in leasehold conveyancing in Radyr can be reduced where you instruct lawyers the minute you market your property and request that they start to collate the leasehold documentation needed by the buyers lawyers.
  • In the event that you altered the property did you need the Landlord’s approval? Have you, for example laid down wooden flooring? Most leases in Radyr state that internal structural changes or installing wooden flooring necessitate a licence issued by the Landlord consenting to such changes. Should you fail to have the consents in place you should not contact the landlord without checking with your solicitor in advance.
  • A minority of Radyr leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should 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 service charge figures so that they can pass this information on to the buyers or their solicitors.
  • If you have the benefit of shareholding in the Management Company, you should make sure that you hold the original share document. Organising a duplicate share certificate is often a time consuming process and slows down many a Radyr conveyancing transaction. If a new share is required, you should approach the company officers or managing agents (where applicable) for this sooner rather than later.
  • You may think that you are aware of the number of years left on your lease but it would be advisable verify this via your lawyers. A purchaser's conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is less than 75 years. In the circumstances it is important at an as soon as possible that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

  • All being well we will complete the disposal of our £200000 apartment in Radyr next Monday . The management company has quoted £396 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Radyr?

    Radyr conveyancing on leasehold flats often necessitates the purchaser’s lawyer submitting enquiries for the landlord to address. Although the landlord is not legally bound to respond to these enquiries the majority will be content to do so. They may invoice a reasonable administration fee for responding to enquiries 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 transactions it is in excess of £800. The management information fee levied by the landlord must be sent together with a summary of rights and obligations in relation to administration charges, otherwise the charge is technically not due. In reality you have little option but to pay whatever is demanded if you want to complete the sale of your home.

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

      Be sure to discover if there are any onerous prohibitions in the lease. For instance some leases prohibit pets being allowed in certain buildings in Radyr. If you like the propertyin Radyr but your dog is not allowed to make the move with you then you will be faced difficult compromise. What is the yearly service fee and ground rent? Its a good idea to discover as much as possible regarding the company managing the building as they will impact your use and enjoyment of the property. As the owner of a leasehold property you are often in the clutches of the managing agents both financially and when it comes to every day issues like the tidiness of the common parts. Don't be shy to ask other tenants what they think of them. Finally, be sure you know the dates that the service fees are due to the relevant party and specifically how they are spending the funds.

    Other Topics

    Lease Extensions in Radyr