My partner and I may need to sub-let our Tredegar garden flat temporarily due to a career opportunity. We used a Tredegar conveyancing firm in 2002 but they have closed and we did not have the foresight to get any guidance as to whether the lease allows us to sublet. How do we find out?

Some leases for properties in Tredegar do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably refuse but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.

There are only 72 years unexpired on my lease in Tredegar. I now wish to extend my lease but my freeholder is missing. What options are available to me?

If 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. However, you will be required to prove that you have made all reasonable attempts to track down the lessor. On the whole a specialist should be useful to conduct investigations and prepare an expert document which can be used as evidence that the landlord is indeed missing. It is wise to seek advice from a conveyancer both on devolving into the landlord’s disappearance and the application to the County Court overseeing Tredegar.

My wife and I purchased a leasehold flat in Tredegar. Conveyancing and Nottingham Building Society mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1994. The conveyancing solicitor in Tredegar who previously acted has now retired.Do I pay?

First contact HMLR to make sure that the individual claiming to own the freehold is indeed the new freeholder. It is not necessary to incur the fees of a Tredegar conveyancing solicitor to do this as you can do this on the Land Registry website for £3. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am looking at a two apartments in Tredegar both have approximately fifty years left on the lease term. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold apartment in Tredegar is a deteriorating asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it adversely affects the salability of the premises. The majority of purchasers and mortgage companies, leases with under eighty years become less and less attractive. On a more upbeat 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 Tredegar 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 any new 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.

We expect to complete our sale of a £400000 maisonette in Tredegar in just under a week. The management company has quoted £312 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Tredegar?

Tredegar conveyancing on leasehold flats normally necessitates administration charges invoiced by managing agents :

• Answering pre-exchange enquiries
• Where consent is required before sale in Tredegar
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Tredegar leasehold premises is £350. For Tredegar conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to provide the information.

Tredegar Leasehold Conveyancing - Examples of Questions you should consider before Purchasing

The answer will be helpful as a) areas can cause problems for the block as the common areas may start to deteriorate if services remain unpaid b) if the leasehold owners have a dispute with the managing agents you will wish to have full disclosure How much is the ground rent and service charge? The majority of Tredegar leasehold apartments will be liable to pay a service charge for maintenance of the block invoiced on behalf of the management company. If you purchase the flat you will have to meet this amount, usually in instalments accross the year. This can vary from two or three hundred pounds to thousands of pounds for blocks with lifts and large communal grounds. In all probability there will be a ground rent for you to pay yearly, normally this is not a exorbitant amount, say about £25-£75 but you need to check as sometimes it can be many hundreds of pounds.

Other Topics

Lease Extensions in Tredegar