Fixed-fee leasehold conveyancing in Rhiwbina:

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Top Five Questions relating to Rhiwbina leasehold conveyancing

I am on look out for some leasehold conveyancing in Rhiwbina. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.

If the lease is registered - and most are in Rhiwbina - then the leasehold title will always include the basic details 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 appears to meet my requirements, at a great figure which is making it more attractive. I have since found out that it's a leasehold rather than freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Rhiwbina. Conveyancing solicitors have not yet been instructed. Will they explain the issues?

Most houses in Rhiwbina are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. it is apparent that you are buying in Rhiwbina in which case you should be shopping around for a Rhiwbina conveyancing solicitor and be sure that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example obtaining the freeholder’sconsent to conduct alterations. It may be necessary to pay a contribution towards the maintenance of the estate where the property is located on an estate. Your conveyancer will appraise you on the various issues.

I've recently bought a leasehold house in Rhiwbina. Do I have any liability for service charges for periods before my ownership?

In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Do you have any top tips for leasehold conveyancing in Rhiwbina from the point of view of saving time on the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Rhiwbina can be avoided if you appoint lawyers the minute you market your property and ask them to collate the leasehold information which will be required by the purchasers’ conveyancers.
  • The majority landlords or managing agents in Rhiwbina charge for providing management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Rhiwbina.
  • If you have carried out any alterations to the premises would they have required Landlord’s permission? Have you, for example laid down wooden flooring? Most leases in Rhiwbina state that internal structural alterations or addition of wooden flooring necessitate a licence issued by the Landlord consenting to such changes. Where you dont have the approvals to hand you should not contact the landlord without checking with your solicitor first.
  • If you have had any disputes with your landlord or managing agents it is very important that these are resolved prior to the flat being put on the market. The purchasers and their solicitors will be reluctant to purchase a property where a dispute is unsettled. You may need to swallow your pride and discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. 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 particulars of the dispute to the buyers, but it is better to reveal the dispute as historic rather than unsettled.
  • If you hold a share in a the Management Company, you should make sure that you hold the original share certificate. Arranging a replacement share certificate is often a time consuming process and delays many a Rhiwbina conveyancing deal. Where a reissued share certificate is necessary, do contact the company director and secretary or managing agents (if relevant) for this sooner rather than later.

    • In relation to leasehold conveyancing in Rhiwbina what are the most frequent lease problems?

    There is nothing unique about leasehold conveyancing in Rhiwbina. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain parts of the building
    • Insurance obligations
    • A provision for the recovery of money spent for the benefit of another party.
    • Maintenance charge proportions which don’t add up to the correct percentage

    You may encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, The Mortgage Works, and Barclays Direct all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, obliging the buyer to withdraw.

    I invested in buying a ground floor flat in Rhiwbina, conveyancing having been completed in 2012. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Rhiwbina with an extended lease are worth £240,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease runs out on 21st October 2082

    With only 61 years left to run we estimate the price of your lease extension to be between £21,900 and £25,200 as well as professional fees.

    The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs without more detailed investigations. 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 taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Rhiwbina