Leasehold Conveyancing in Towyn - Get a Quote from the leasehold experts approved by your lender

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Towyn leasehold conveyancing: Q and A’s

I am in need of some leasehold conveyancing in Towyn. Before I set the wheels in motion I require certainty as to the number of years remaining on the lease.

If the lease is registered - and 99.9% are in Towyn - then the leasehold title will always include the basic details 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.

I only have Seventy years remaining on my lease in Towyn. I need to extend my lease but my landlord is missing. What should I do?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. You will be obliged to demonstrate that you have made all reasonable attempts to track down the lessor. In some cases a specialist should be useful to try and locate and to produce an expert document which can be accepted by the court as evidence that the landlord is indeed missing. It is wise to seek advice from a property lawyer both on proving the landlord’s disappearance and the application to the County Court covering Towyn.

I am hoping to sign contracts shortly on a leasehold property in Towyn. Conveyancing lawyers inform me that they report fully on Monday. What should I be looking out for?

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

  • You should be sent a copy of the lease
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
  • The physical extent of the demise. This will be the flat itself but could also incorporate a loft or cellar if applicable.
  • Setting out your rights in respect of common areas in the building.For example, does the lease permit a right of way over a path or hallways?
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • What you can do if a neighbour breach a clause of their lease? For a comprehensive list of information to be included in your report on your leasehold property in Towyn please enquire of your solicitor in ahead of your conveyancing in Towyn

    • I own a leasehold house in Towyn. Conveyancing and Leeds Building Society mortgage went though with no issue. A letter has just been received from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1997. The conveyancing practitioner in Towyn who previously acted has long since retired.Any advice?

    First make enquiries of the Land Registry to make sure that this person is indeed the new freeholder. It is not necessary to incur the fees of a Towyn conveyancing lawyer to do this as it can be done on-line for £3. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

    What advice can you give us when it comes to choosing a Towyn conveyancing practice to carry out our lease extension conveyancing?

    If you are instructing a conveyancer for your lease extension (regardless if they are a Towyn conveyancing firm) 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 Towyn conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:

    • How familiar is the firm with lease extension legislation?
  • How many lease extensions have they carried out in Towyn in the last twenty four months?

    • I am the registered owner of a 2 bed flat in Towyn, conveyancing formalities finalised 2012. How much will my lease extension cost? Comparable properties in Towyn with a long lease are worth £220,000. The average or mid-range amount of ground rent is £50 yearly. The lease terminates on 21st October 2077

    With only 55 years remaining on your lease we estimate the premium for your lease extension to range between £29,500 and £34,000 as well as costs.

    The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Towyn