I am on look out for some leasehold conveyancing in Tenby. Before I get started I want to be sure as to the unexpired term of the lease.

If the lease is recorded at the land registry - and most are in Tenby - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

My fiance and I may need to sub-let our Tenby basement flat for a while due to a new job. We used a Tenby conveyancing firm in 2004 but they have since shut and we did not have the foresight to get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?

The lease dictates relations between the landlord and you the flat owner; in particular, it will say if subletting is not allowed, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no specific ban or restriction, subletting is permitted. Most leases in Tenby do not contain an absolute prevention of subletting – such a provision would undoubtedly devalue the flat. In most cases there is a basic requirement that the owner notifies the freeholder, possibly sending a copy of the sublease.

Planning to exchange soon on a studio apartment in Tenby. Conveyancing solicitors inform me that they report fully next week. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Tenby should include some of the following:

• Defining your legal entitlements in respect of the communal areas in the building.E.G., does the lease include a right of way over an accessway or staircase?

I am attracted to a couple of apartments in Tenby which have in the region of 50 years remaining on the lease term. Will this present a problem?

There are no two ways about it. A leasehold flat in Tenby is a wasting asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it reduces the salability of the property. For most purchasers and lenders, leases with under eighty years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Tenby conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

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

In a situation 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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure 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).

Leasehold Conveyancing in Tenby - Examples of Queries Prior to buying

Best to be warned whether changing the roof or some other major work is coming up to be shared amongst the leasehold owners and could well dramatically increase the the maintenance fees or require a one off invoice. Please tell me if there are any major works anticipated that will likely add a premium to the maintenance charges? Generally speaking the cost for major works are not built into the maintenance charges, albeit that a few managing agents in Tenby obliged leasehold owners to pay into a sinking fund and this is used to offset against major repairs or maintenance.

Other Topics

Lease Extensions in Tenby