Common questions relating to Roath leasehold conveyancing
Helen (my wife) and I may need to rent out our Roath garden flat for a while due to taking a sabbatical. We instructed a Roath conveyancing practice in 2002 but they have since shut and we did not think at the time get any guidance as to whether the lease permits subletting. How do we find out?
Even though your previous Roath conveyancing solicitor is not around you can check your lease to see if it allows you to sublet the premises. The accepted inference is that if the lease is silent, subletting is allowed. Quite often there is a prerequisite that you are obliged to obtain consent from your landlord or some other party before subletting. The net result is that you cannot sublet in the absence of first obtaining consent. Such consent must not not be unreasonably refused ore delayed. 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've found a house that seems to be perfect, at a great figure which is making it all the more appealing. I have since been informed that it's a leasehold rather than freehold. I am assuming that there are particular concerns buying a leasehold house in Roath. Conveyancing lawyers have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Roath ?
Most houses in Roath are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. We note that you are buying in Roath so you should seriously consider looking for a Roath conveyancing practitioner and check that they are used to transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example obtaining the freeholder’spermission to carry out changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the estate where the property is located on an estate. Your lawyer should appraise you on the various issues.
Last month I purchased a leasehold house in Roath. Do I have any liability for service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous lessee 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 ensure 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).
What are your top tips when it comes to finding a Roath conveyancing practice to deal with our lease extension?
If you are instructing a conveyancer for your lease extension (regardless if they are a Roath conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with several firms including non Roath conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be of use:
- If they are not ALEP accredited then what is the reason?
What makes a Roath lease unmortgageable?
There is nothing unique about leasehold conveyancing in Roath. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain provisions are erroneous. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain elements of the property
- A duty to insure the building
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Maintenance charge proportions which don’t add up to the correct percentage
A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Santander, Chelsea Building Society, and TSB all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the buyer to pull out.
I am the registered owner of a 1 bedroom flat in Roath, conveyancing formalities finalised 3 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Roath with a long lease are worth £214,000. The average or mid-range amount of ground rent is £45 per annum. The lease ends on 21st October 2070
You have 50 years unexpired we estimate the premium for your lease extension to be between £40,900 and £47,200 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first getting professional advice.