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 subsequently found out that it's a leasehold rather than freehold. I would have thought that there are particular concerns buying a leasehold house in Ruthin. Conveyancing advisers have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Ruthin ?

The majority of houses in Ruthin are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. It is clear that you are buying in Ruthin so you should seriously consider shopping around for a Ruthin conveyancing solicitor and be sure that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as obtaining the freeholder’spermission to conduct alterations. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the property is located on an estate. Your lawyer will appraise you on the various issues.

Back In 2004, I bought a leasehold house in Ruthin. Conveyancing and Clydesdale mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1992. The conveyancing practitioner in Ruthin who previously acted has long since retired.Any advice?

First make enquiries of HMLR to make sure that this person is in fact the new freeholder. You do not need to incur the fees of a Ruthin conveyancing firm to do this as it can be done on-line for £3. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I've recently bought a leasehold property in Ruthin. Do I have any liability for service charges relating to a period prior to completion of my purchase?

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. Strange as it may seem, 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).

Can you offer any advice when it comes to appointing a Ruthin conveyancing practice to deal with our lease extension?

When appointing a conveyancer for lease extension works (regardless if they are a Ruthin conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We advise that you talk with two or three firms including non Ruthin conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be useful:

• How familiar is the practice with lease extension legislation?
• What are the charges for lease extension conveyancing?

In relation to leasehold conveyancing in Ruthin what are the most common lease problems?

There is nothing unique about leasehold conveyancing in Ruthin. Most leases are unique and drafting errors can sometimes mean that certain sections are wrong. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain parts of the building
• A duty to insure the building
• 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

You will encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, Virgin Money, and Aldermore all have express 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 grant the mortgage, obliging the purchaser to pull out.

I inherited a split level flat in Ruthin, conveyancing formalities finalised 1995. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable properties in Ruthin with a long lease are worth £250,000. The average or mid-range amount of ground rent is £55 per annum. The lease runs out on 21st October 2080

With only 54 years remaining on your lease we estimate the price of your lease extension to span between £28,500 and £33,000 as well as legals.

The figure above a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of comprehensive investigations. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.