Experts for Leasehold Conveyancing in Rhiwbina

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

Rhiwbina leasehold conveyancing: Q and A’s

I only have Fifty years unexpired on my flat in Rhiwbina. I now want to get lease extension but my landlord is absent. What options are available to me?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. You will be obliged to demonstrate that you or your lawyers have used your best endeavours to locate the freeholder. In some cases an enquiry agent may be helpful to conduct investigations and prepare an expert document to be used as proof that the landlord is indeed missing. It is wise to seek advice from a conveyancer both on devolving into the landlord’s absence and the application to the County Court overseeing Rhiwbina.

Estate agents have just been given the go-ahead to market my ground floor apartment in Rhiwbina.Conveyancing lawyers have not yet been instructed but I have just received a half-yearly maintenance charge invoice – Do I pay up?

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 management companies will not acknowledge the buyer until 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 am looking at a couple of flats in Rhiwbina both have approximately fifty years left on the lease term. should I be concerned?

There are no two ways about it. A leasehold flat in Rhiwbina is a wasting asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it adversely affects the value of the premises. For most buyers and mortgage companies, leases with under 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 property 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 Rhiwbina conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend 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 any new 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.

What advice can you give us when it comes to appointing a Rhiwbina conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a conveyancer for your lease extension (regardless if they are a Rhiwbina conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We suggested that you speak with two or three firms including non Rhiwbina conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be of use:

  • How experienced is the firm with lease extension legislation?
  • What are the charges for lease extension conveyancing?

    • Can you provide any top tips for leasehold conveyancing in Rhiwbina from the point of view of expediting the sale process?

    • Much of the delay in leasehold conveyancing in Rhiwbina can be bypassed where you get in touch lawyers as soon as you market your property and ask them to put together the leasehold documentation needed by the buyers representatives.
    • Many freeholders or managing agents in Rhiwbina levy fees for supplying management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management pack sought 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 usual reason for delay in leasehold conveyancing in Rhiwbina.
  • Some Rhiwbina leases require Licence to Assign from the landlord. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. Any 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 actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers.
  • If there is a history of any disputes with your freeholder or managing agents it is essential that these are resolved prior to the flat being put on the market. The purchasers and their solicitors will be warry about purchasing a property where there is a current dispute. You may need to swallow your pride and pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is better to present the dispute as over as opposed to unsettled.
  • If you have the benefit of shareholding in the Management Company, you should ensure that you have the original share certificate. Organising a new share certificate is often a time consuming formality and frustrates many a Rhiwbina conveyancing transaction. Where a new share is needed, do contact the company director and secretary or managing agents (where applicable) for this sooner rather than later.

    • Rhiwbina Leasehold Conveyancing - Examples of Questions you should consider Prior to Purchasing

      Who takes charge for maintaining and repairing the building? Many Rhiwbina leasehold apartments will be liable to pay a service charge for maintenance of the block set by the landlord. If you purchase the property you will have to meet this charge, normally in instalments accross the year. This can differ from several hundred pounds to thousands of pounds for large purpose-built buildings. In all likelihood there will be a rentcharge for you to pay yearly, ordinarily this is not a significant sum, say around £25-£75 but you need to enquire as occasionally it can be many hundreds of pounds. Is the freehold owned collectively by the leaseholders?

    Other Topics

    Lease Extensions in Rhiwbina