I own a leasehold flat in Taffs Well. Conveyancing and Skipton Building Society mortgage are in place. A letter has just been received from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1992. The conveyancing solicitor in Taffs Well who previously acted has long since retired.What should I do?

The first thing you should do is contact HMLR to be sure that this person is indeed the new freeholder. You do not need to incur the fees of a Taffs Well conveyancing firm to do this as you can do this on the Land Registry website for £3. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am attracted to a couple of flats in Taffs Well which have approximately forty five years remaining on the lease term. Do I need to be concerned?

There are plenty of short leases in Taffs Well. The lease is a right to use the premises for a prescribed time frame. As the lease gets shorter the value of the lease deteriorate and it becomes more expensive to extend the lease. For this reason it is advisable to extend the lease term. More often than not it is difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a protracted process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this area

I work for a reputable estate agency in Taffs Well where we see a number of leasehold sales jeopardised due to leases having less than 80 years remaining. I have received conflicting advice from local Taffs Well conveyancing solicitors. Can you shed some light as to whether the owner of a flat can start the lease extension formalities for the buyer?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

What are your top tips when it comes to appointing a Taffs Well conveyancing practice to deal with our lease extension?

When appointing a conveyancer for your lease extension (regardless if they are a Taffs Well conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with several firms including non Taffs Well conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be of use:

• How experienced is the practice with lease extension legislation?

What are the common problems that you encounter in leases for Taffs Well properties?

Leasehold conveyancing in Taffs Well is not unique. Most leases are unique 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:

• A provision to repair to or maintain parts of the building
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Accord Mortgages Ltd, Leeds Building Society, and Aldermore all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, obliging the buyer to withdraw.

Taffs Well Conveyancing for Leasehold Flats - Sample of Queries before Purchasing

This question is helpful as a) areas can cause problems for the building as the communal areas may start to deteriorate where services are not paid for b) if the leasehold owners have a dispute with the managing agents you will want to know about it Generally speaking the outlay for major works are not wrapped into the service charges, although some managing agents in Taffs Well ask tenants to contribute towards a reserve fund created for the specific intention of building a fund for major repairs or maintenance. How many years are left on the lease?

Other Topics

Lease Extensions in Taffs Well