Fixed-fee leasehold conveyancing in St Mellons:

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Questions and Answers: St Mellons leasehold conveyancing

I've found a house that appears to meet my requirements, at a reasonable price which is making it more attractive. I have since discovered that the title is leasehold rather than freehold. I would have thought that there are issues buying a leasehold house in St Mellons. Conveyancing solicitors have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in St Mellons ?

Most houses in St Mellons are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are buying in St Mellons in which case you should be looking for a St Mellons conveyancing solicitor and be sure that they have experience in 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 to the property. The lease will likely included provisions for example obtaining the landlord’sconsent to carry out alterations. It may be necessary to pay a contribution towards the maintenance of the estate where the house is located on an estate. Your conveyancer will appraise you on the various issues.

My wife and I purchased a leasehold flat in St Mellons. Conveyancing and Yorkshire Building Society mortgage are in place. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1992. The conveyancing practitioner in St Mellons who previously acted has long since retired.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 instruct a St Mellons conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

What are your top tips when it comes to finding a St Mellons conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a conveyancer for your lease extension (regardless if they are a St Mellons conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We suggested that you make enquires with two or three firms including non St Mellons conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

  • How familiar is the firm with lease extension legislation?
  • If the firm is not ALEP accredited then why not?

    • Can you provide any top tips for leasehold conveyancing in St Mellons with the intention of speeding up the sale process?

    • Much of the delay in leasehold conveyancing in St Mellons can be reduced where you get in touch lawyers as soon as your agents start advertising the property and ask them to put together the leasehold documentation which will be required by the buyers conveyancers.
    • Many landlords or managing agents in St Mellons charge for supplying management packs for a leasehold homes. You or your lawyers should discover the fee that they propose to charge. The management information 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 St Mellons.
  • Some St Mellons leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain bank and professional references. The bank reference will need to confirm that the buyers are 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 service charge figures so that they can pass this information on to the buyers or their solicitors.
  • If you are supposed to have a share in the freehold, you should ensure that you have the original share document. Arranging a new share certificate is often a lengthy formality and frustrates many a St Mellons home move. If a reissued share certificate is needed, you should approach the company officers or managing agents (where applicable) for this as soon as possible.
  • You may think that you are aware of the number of years remaining on your lease but it would be wise to double-check by asking your lawyers. A purchaser's lawyer will not be happy to advise their client to to exchange contracts if the remaining number of years is below 80 years. In the circumstances it is essential at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • In relation to leasehold conveyancing in St Mellons what are the most common lease problems?

    Leasehold conveyancing in St Mellons is not unique. All leases are individual and drafting errors can sometimes mean that certain clauses are missing. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain parts of the property
    • 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, Norwich and Peterborough Building Society, and TSB 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 buyer to withdraw.

    I inherited a 2 bed flat in St Mellons, conveyancing formalities finalised in 2011. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in St Mellons with over 90 years remaining are worth £225,000. The ground rent is £55 invoiced every year. The lease ceases on 21st October 2092

    You have 67 years unexpired the likely cost is going to span between £10,500 and £12,000 plus legals.

    The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in St Mellons