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Radyr leasehold conveyancing: Q and A’s

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

Assuming the lease is recorded at the land registry - and 99.9% 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.

You should [be sent a copy of the lease|receive a copy of the lease]

I am hoping to exchange soon on a ground floor flat in Radyr. Conveyancing lawyers assured me that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Radyr should include some of the following:

  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • Do you need to have carpet in the flat or are you allowed wood flooring?
  • Are you allowed to have a pet in the flat?
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • Repair and maintenance of the flat
  • Changes to the flat (alterations and additions)
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
For details of the information to be contained in your report on your leasehold property in Radyr please ask your lawyer in ahead of your conveyancing in Radyr

I’m about to sell my ground floor flat in Radyr.Conveyancing solicitors are to be appointed soon but I have just had a quarterly service charge demand – what should I do?

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.

Do you have any advice for leasehold conveyancing in Radyr from the perspective of expediting the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Radyr can be reduced if you get in touch lawyers as soon as your agents start marketing 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 premises would they have required Landlord’s permission? Have you, for example installed wooden flooring? Radyr leases often stipulate that internal structural changes or installing wooden flooring calls for a licence from the Landlord acquiescing to such changes. Should you fail to have the approvals in place do not communicate with the landlord without contacting your lawyer in the first instance.
  • Some 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 put in hand bank and professional references. The bank reference will need to confirm that the buyers are 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 service charge figures so that they can pass this information on to the purchasers or their solicitors.
  • If there is a history of conflict with your freeholder or managing agents it is essential that these are settled prior to the flat being put on the market. The purchasers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You may have to bite the bullet and pay any arrears of service charge or settle 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 are still duty bound to disclose details of the dispute to the purchasers, but it is better to reveal the dispute as historic rather than unsettled.
  • If you hold a share in a the freehold, you should ensure that you hold the original share document. Obtaining a replacement share certificate can be a time consuming formality and slows down many a Radyr home move. If a duplicate share certificate is required, do contact the company officers or managing agents (where relevant) for this at the earliest opportunity.

If all goes to plan we aim to complete our sale of a £ 375000 garden flat in Radyr next week. The managing agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Radyr?

Radyr conveyancing on leasehold maisonettes more often than not involves the purchaser’s solicitor sending questions for the landlord to answer. Although the landlord is not legally bound to address these enquiries the majority will be content to assist. They may levy a reasonable charge for answering enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is over three hundred pounds, in some cases it is in excess of £800. The management information fee required by the landlord must be sent together with a summary of rights and obligations in relation to administration fees, without which the charge is technically not due. Reality however dictates that you have little option but to pay whatever is demanded should you wish to exchange contracts with the buyer.

Radyr Leasehold Conveyancing - Sample of Questions you should ask before Purchasing

    Please note that where the lease has fewer than eighty years it will affect the value of the apartment. Check with your mortgage company that they are content with the length of the lease. Leases with fewer than 80 years remaining means that you will most likely have to extend the lease sooner rather than later and it is worth discovering how much this would cost. Remember, in most cases you would be be obliged to have been the owner of the residence for a couple of years before you are entitled to exercise a lease extension.