I am in need of some leasehold conveyancing in Trefnant. Before I get started I would like to find out the remaining lease term.

Assuming the lease is recorded at the land registry - and most are in Trefnant - 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 wife and I may need to sub-let our Trefnant ground floor flat for a while due to a career opportunity. We instructed a Trefnant conveyancing firm in 2001 but they have closed and we did not think at the time get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?

Some leases for properties in Trefnant do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably withhold but, in such cases, they would need to review 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.

Looking forward to sign contracts shortly on a basement flat in Trefnant. Conveyancing lawyers assured me that they report fully next week. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Trefnant should include some of the following:

• You should receive a copy of the lease

I am looking at a couple of apartments in Trefnant both have about forty five years remaining on the leases. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold apartment in Trefnant is a wasting asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it adversely affects the marketability of the premises. For most purchasers and banks, 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 a residence 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 Trefnant 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 They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. 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.

Can you offer any advice when it comes to choosing a Trefnant conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a property lawyer for your lease extension (regardless if they are a Trefnant conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with two or three firms including non Trefnant conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:

• How experienced is the practice with lease extension legislation?

Trefnant Leasehold Conveyancing - Examples of Queries before Purchasing

Generally speaking the outlay for major works tend not to be included within service charges, although some managing agents in Trefnant require tenants to pay into a sinking fund and this is used to offset against larger works. Most Trefnant leasehold flats will have a service charge for maintenance of the block invoiced on behalf of the freeholder. If you purchase the property you will have to meet this amount, normally periodically throughout the year. This may differ from a few hundred pounds to thousands of pounds for buildings with lifts and large common areas. In all likelihood there will be a ground rent to be met yearly, this is usually not a large sum, say around £25-£75 but you should to enquire it because on occasion it could be surprisingly expensive. Are any of leasehold owners in arrears of their service charge liability?

Other Topics

Lease Extensions in Trefnant