Leasehold Conveyancing in Roath Park - Get a Quote from the leasehold experts approved by your lender

Leasehold conveyancing in Roath Park 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 Roath Park and across 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 Roath Park leasehold conveyancing

I am hoping to put an offer on a small detached house that seems to be perfect, at a great price which is making it more attractive. I have just found out that the title is leasehold rather than freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Roath Park. Conveyancing advisers have not yet been appointed. Will they explain the issues?

Most houses in Roath Park are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Roath Park so you should seriously consider looking for a Roath Park conveyancing practitioner and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. As a lessee you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example obtaining the freeholder’spermission to conduct changes to the property. You may also be required to pay a contribution towards the upkeep of the communal areas where the property is located on an estate. Your lawyer should advise you fully on all the issues.

I am attracted to a two flats in Roath Park both have about fifty years unexpired on the leases. Will this present a problem?

There are plenty of short leases in Roath Park. The lease is a right to use the property for a prescribed time frame. As the lease gets shorter the value of the lease deteriorate and results in it becoming more expensive to acquire a lease extension. This is why it is generally wise to increase the term of the lease. It is often difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a protracted process. We advise that you seek professional help from a solicitor and surveyor with experience in this field

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

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 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).

Do you have any advice for leasehold conveyancing in Roath Park from the perspective of saving time on the sale process?

  • Much of the frustration in leasehold conveyancing in Roath Park can be reduced where you instruct lawyers as soon as your agents start marketing the property and ask them to put together the leasehold information needed by the buyers representatives.
  • Many freeholders or Management Companies in Roath Park charge for supplying management packs for a leasehold property. You or your lawyers should discover the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Roath Park.
  • In the event that you altered the property did you need the Landlord’s consent? Have you, for example installed wooden flooring? Most leases in Roath Park state that internal structural changes or laying down wooden flooring necessitate a licence issued by the Landlord consenting 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 Roath Park leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference should make it clear that the buyer is 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.
  • You may think that you are aware of the number of years left on your lease but you should double-check by asking your solicitors. A purchaser's conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is less than 75 years. It is therefore essential at an as soon as possible that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

  • When it comes to leasehold conveyancing in Roath Park what are the most common lease defects?

    Leasehold conveyancing in Roath Park is not unique. Most leases are unique and legal mistakes in the legal wording can sometimes mean that certain clauses are erroneous. The following missing provisions could result in a defective lease:

    • 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.
    • 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 primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , Virgin Money, and Clydesdale all have very detailed requirements 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 buyer to withdraw.

    Roath Park Leasehold Conveyancing - A selection of Queries before buying

      The prefered form of lease arrangement is a share of the freehold. In this scenario the tenants benefit from control and even though a managing agent is frequently employed if it is bigger than a house conversion, the managing agent is directed by the tenants. How many years remain on the lease? How many of the leaseholders are in arrears for their maintenance charge payments?

    Other Topics

    Lease Extensions in Roath Park