Recently asked questions relating to Trefnant leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Trefnant. Before diving in I want to be sure as to the unexpired term of the lease.
If the lease is registered - and almost all are in Trefnant - 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.
Due to sign contracts shortly on a ground floor flat in Trefnant. Conveyancing solicitors assured me that they report fully on Monday. 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:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
My wife and I purchased a leasehold house in Trefnant. Conveyancing and Chelsea Building Society mortgage went though with no issue. I have received a letter from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1993. The conveyancing practitioner in Trefnant who previously acted has now retired.Any advice?
The first thing you should do is contact the Land Registry to make sure that this person is in fact the new freeholder. It is not necessary to instruct a Trefnant conveyancing lawyer to do this as you can do this on the Land Registry website for £3. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am looking at a couple of maisonettes in Trefnant which have approximately fifty years left on the lease term. Do I need to be concerned?
A lease is a legal document that entitles you to use the property for a period of time. As the lease gets shorter the saleability of the lease deteriorate and it becomes more costly to acquire a lease extension. For this reason it is advisable to extend the lease term. Sometimes it is difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this arena
Can you offer any advice when it comes to choosing a Trefnant conveyancing practice to deal with our lease extension?
If you are instructing a conveyancer for lease extension works (regardless if they are a Trefnant conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We suggested that you talk with several firms including non Trefnant conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be helpful:
- If the firm is not ALEP accredited then why not?
Trefnant Conveyancing for Leasehold Flats - Examples of Questions you should ask Prior to buying
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This question is helpful as a) areas could cause problems for the building as the communal areas may start to deteriorate if repairs are not paid for b) if the tenants have a dispute with the managing agents you will wish to have full disclosure
The majority of Trefnant leasehold flats will be liable to pay a service bill for maintenance of the building levied on behalf of the landlord. If you buy the apartment you will have to pay this amount, usually quarterly during the year. This may differ from two or three hundred pounds to thousands of pounds for large purpose-built buildings. There will also be a ground rent to be met annual, ordinarily this is not a large amount, say around £25-£75 but you should to check it because sometimes it could be prohibitively expensive.
Please inform me if there are any major works in the planning that will likely increase the service fees?
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