I have just appointed agents to market my garden apartment in Tongwynlais.Conveyancing has not commenced but I have just had a yearly service charge invoice – should I leave it to the buyer to sort out?

It best that you pay the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

I am hoping to put an offer on a small detached house that seems to be perfect, at a great figure which is making it more attractive. I have just found out that it's a leasehold rather than freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Tongwynlais. Conveyancing solicitors have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Tongwynlais ?

Most houses in Tongwynlais are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are purchasing in Tongwynlais in which case you should be shopping around for a Tongwynlais conveyancing practitioner and check that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the freeholder’spermission to carry out changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the estate where the property is located on an estate. Your lawyer should advise you fully on all the issues.

I am attracted to a couple of maisonettes in Tongwynlais both have approximately fifty years unexpired on the lease term. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Tongwynlais. The lease is a right to use the premises for a prescribed time frame. As a lease shortens the value of the lease reduces and results in it becoming more costly to extend the lease. For this reason it is often a good idea to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders may be unwilling to lend money on properties of this type. Lease extension can be a protracted process. We recommend you seek professional help from a solicitor and surveyor with experience in this field

What are your top tips when it comes to finding a Tongwynlais conveyancing practice to carry out our lease extension conveyancing?

When appointing a property lawyer for lease extension works (regardless if they are a Tongwynlais conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with several firms including non Tongwynlais conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be useful:

• If they are not ALEP accredited then why not?

What makes a Tongwynlais lease problematic?

Leasehold conveyancing in Tongwynlais is not unique. Most leases are unique and drafting errors can sometimes mean that certain sections 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
• 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 will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Chelsea Building Society, and Nottingham Building Society all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the purchaser to withdraw.

Tongwynlais Leasehold Conveyancing - A selection of Queries Prior to buying

Is anyone aware of any major works on the horizon that could add a premium to the maintenance costs? What is the service charge and ground rent on the flat? How many years remain on the lease?

Other Topics

Lease Extensions in Tongwynlais