Frequently asked questions relating to Rhiwbina leasehold conveyancing
I am in need of some leasehold conveyancing in Rhiwbina. Before diving in I want to be sure as to the unexpired term of the lease.
Assuming the lease is registered - and 99.9% are in Rhiwbina - 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 only have Fifty years left on my lease in Rhiwbina. I now wish to get lease extension but my freeholder is missing. What options are available to me?
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 for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. You will be obliged to prove that you or your lawyers have used your best endeavours to locate the freeholder. In some cases an enquiry agent should be helpful to conduct investigations and to produce a report to be accepted by the court as proof that the freeholder can not be located. It is advisable to get professional help from a conveyancer both on proving the landlord’s disappearance and the vesting order request to the County Court overseeing Rhiwbina.
I've found a house that seems to tick a lot of boxes, at a great price which is making it all the more appealing. I have since discovered that it's a leasehold as opposed to freehold. I would have thought that there are issues purchasing a leasehold house in Rhiwbina. Conveyancing lawyers have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Rhiwbina ?
The majority of 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 assist with the conveyancing process. We note that you are buying in Rhiwbina in which case you should be shopping around for a Rhiwbina conveyancing practitioner and be sure that they are used to transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example requiring the freeholder’sconsent to conduct changes to the property. It may be necessary to pay a contribution towards the maintenance of the communal areas where the house is located on an estate. Your solicitor should advise you fully on all the issues.
Completion in due on the sale of our £350000 maisonette in Rhiwbina on Thursday in a week. The managing agents has quoted £408 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Rhiwbina?
Rhiwbina conveyancing on leasehold flats more often than not requires the purchaser’s solicitor submitting enquiries for the landlord to answer. Although the landlord is not legally bound to address such questions most will be willing to do so. They are entitled invoice a reasonable charge for answering questions or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is £350, in some cases it is in excess of £800. The administration charge required by the landlord must be sent together with a summary of rights and obligations in respect of administration charges, otherwise the charge is not strictly payable. Reality however dictates that you have little option but to pay whatever is demanded should you wish to sell the property.
What makes a Rhiwbina lease unacceptable for security purposes?
There is nothing unique about leasehold conveyancing in Rhiwbina. All leases are unique and drafting errors can sometimes mean that certain clauses are wrong. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair to or maintain elements of the building
- Insurance obligations
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Service charge per centages that don't add up correctly leaving a shortfall
A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Santander, Barnsley Building Society, and Clydesdale all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, obliging the purchaser to withdraw.
Rhiwbina Conveyancing for Leasehold Flats - A selection of Queries Prior to Purchasing
Many Rhiwbina leasehold properties will be liable to pay a service bill for the upkeep of the building levied by the management company. If you purchase the property you will have to meet this charge, normally periodically throughout the year. This can be anything from several hundred pounds to thousands of pounds for blocks with lifts and large communal grounds. There will also be a rentcharge for you to pay annual, ordinarily this is not a large sum, say about £25-£75 but you need to check it because on occasion it could be many hundreds of pounds.
Best to be warned whether fixing the lift or some other significant cost is due in the near future to be shared between the leasehold owners and may well materially impact the level of the service fees or necessitate a one off invoice.
The prefered form of lease arrangement is a share of the freehold. In this scenario the lessees enjoy control and although a managing agent is frequently retained where the building is bigger than a house conversion, the managing agent acts for the leaseholders themselves.