Common questions relating to Towyn leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Towyn. Before I set the wheels in motion I want to be sure as to the unexpired term of the lease.
If the lease is recorded at the land registry - 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.
Having checked my lease I have discovered that there are only 68 years left on my lease in Towyn. I am keen to get lease extension but my landlord is missing. What options are available to me?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the Court. You will be obliged to demonstrate that you have made all reasonable attempts to track down the lessor. In some cases an enquiry agent would be helpful to carry out a search and to produce an expert document to be used as evidence that the landlord is indeed missing. It is advisable to get professional help from a property lawyer both on proving the landlord’s absence and the application to the County Court covering Towyn.
Last month I purchased a leasehold property in Towyn. Do I have any liability for service charges relating to a period prior to completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure 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).
Can you offer any advice when it comes to finding a Towyn conveyancing firm to deal with our lease extension?
If you are instructing a property lawyer for lease extension works (regardless if they are a Towyn conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with several firms including non Towyn conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be of use:
- How familiar is the practice with lease extension legislation?
All being well we will complete our sale of a £450000 flat in Towyn next Friday . The freeholder has quoted £312 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Towyn?
For the majority of leasehold sales in Towyn conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Answering pre-contract enquiries
- Where consent is required before sale in Towyn
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Leasehold Conveyancing in Towyn - A selection of Queries Prior to buying
Who manages the building?
It would be a good idea to investigate if the the lease includes any unreasonable restrictions in the lease. By way of example it is reasonably common in Towyn leases that pets are not allowed in certain buildings in Towyn. If you love the flatin Towyn yet your dog can’t move with you then you have a very hard compromise.
Most Towyn leasehold apartments will incur a service charge for the upkeep of the building set by the landlord. Should you purchase the flat you will have to meet this contribution, usually periodically throughout the year. This could differ from a couple of hundred pounds to thousands of pounds for buildings with lifts and large common grounds. In all probability there will be a ground rent for you to pay yearly, this is usually not a significant sum, say around £50-£100 but you need to enquire as occasionally it can be many hundreds of pounds.