Fixed-fee leasehold conveyancing in Risca:

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Leasehold conveyancing in Risca is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Risca and throughout next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Frequently asked questions relating to Risca leasehold conveyancing

I would like to let out my leasehold flat in Risca. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

Notwithstanding that your previous Risca conveyancing lawyer is not available you can check your lease to see if it allows you to sublet the apartment. The rule is that if the deeds are non-specific, subletting is permitted. Quite often there is a prerequisite that you must obtain consent via your landlord or some other party before subletting. This means that you cannot sublet without prior permission. Such consent should not be unreasonably withheld. If your lease prohibits you from letting out the property you will need to ask your landlord if they are willing to waive this restriction.

I’m about to sell my 2 bed flat in Risca.Conveyancing solicitors are to be appointed soon but I have just received a half-yearly service charge invoice – what should I do?

Your conveyancing lawyer is likely to suggest that you should clear 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 managing agents 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. This will smooth the conveyancing process.

Back In 2007, I bought a leasehold flat in Risca. Conveyancing and Accord Mortgages Ltd mortgage organised. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1992. The conveyancing solicitor in Risca 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 claiming to own the freehold is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Risca conveyancing lawyer to do this as it can be done on-line for a few pound. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I've recently bought a leasehold property in Risca. Am I liable to pay service charges relating to a period prior to completion of my purchase?

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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part 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 advice for leasehold conveyancing in Risca from the perspective of saving time on the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Risca can be avoided where you get in touch lawyers as soon as you market your property and ask them to put together the leasehold information needed by the purchasers’ lawyers.
  • The majority freeholders or managing agents in Risca charge for supplying management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management information sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Risca.
  • In the event that you altered the property did you need the Landlord’s consent? In particular have you installed wooden flooring? Most leases in Risca state that internal structural alterations or installing wooden flooring calls for a licence from the Landlord acquiescing to such alterations. Should you fail to have the paperwork to hand do not contact the landlord without checking with your lawyer before hand.
  • Some Risca leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the yearly 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 buyers or their solicitors.
  • You believe that you know the number of years remaining on your lease but it would be advisable verify this via your solicitors. A purchaser's lawyer will be unlikely to recommend their client to where the remaining number of years is below 75 years. It is therefore essential at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • I purchased a garden flat in Risca, conveyancing having been completed 2001. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Risca with an extended lease are worth £208,000. The ground rent is £60 levied per year. The lease comes to an end on 21st October 2105

    With only 79 years left to run we estimate the premium for your lease extension to span between £10,500 and £12,000 as well as costs.

    The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Risca