I've found a house that seems to meet my requirements, at a great figure which is making it all the more appealing. I have subsequently been informed that it's a leasehold rather than freehold. I would have thought that there are particular concerns buying a leasehold house in Treuddyn. Conveyancing solicitors have are soon to be appointed. Will they explain the issues?

Most houses in Treuddyn are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Treuddyn so you should seriously consider shopping around for a Treuddyn conveyancing solicitor and be sure that they are used to transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as requiring the freeholder’sconsent to carry out alterations. It may be necessary to pay a service charge towards the upkeep of the estate where the property is part of an estate. Your conveyancer should appraise you on the various issues.

Last month I purchased a leasehold flat in Treuddyn. Am I liable to pay service charges relating to a period prior to my ownership?

Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part 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).

What advice can you give us when it comes to appointing a Treuddyn conveyancing practice to deal with our lease extension?

When appointing a solicitor for lease extension works (regardless if they are a Treuddyn 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 two or three firms including non Treuddyn conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be of use:

• How familiar is the firm with lease extension legislation?

Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £425000 apartment in Treuddyn in just under a week. The landlords agents has quoted £312 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Treuddyn?

Treuddyn conveyancing on leasehold maisonettes usually necessitates the buyer’s conveyancer submitting questions for the landlord to address. Although the landlord is not legally bound to answer such questions the majority will be content to assist. They are at liberty levy a reasonable charge for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is over three hundred pounds, in some situations it is in excess of £800. The administration charge demanded by the landlord must be sent together with a summary of entitlements and obligations in relation to administration charges, without which the invoice is technically not due. Reality however dictates that one has no option but to pay whatever is demanded should you wish to exchange contracts with the buyer.

What makes a Treuddyn lease unacceptable for security purposes?

Leasehold conveyancing in Treuddyn is not unique. All leases are unique and drafting errors can sometimes mean that certain provisions are erroneous. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain parts of the building
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

You may have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, Barnsley Building Society, and Godiva Mortgages Ltd all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the purchaser to withdraw.

I am the registered owner of a split level flat in Treuddyn, conveyancing formalities finalised half a dozen years ago. Can you work out an approximate cost of a lease extension? Equivalent flats in Treuddyn with a long lease are worth £270,000. The average or mid-range amount of ground rent is £65 yearly. The lease comes to an end on 21st October 2078

You have 53 years left to run the likely cost is going to be between £31,400 and £36,200 plus plus your own and the landlord's "reasonable" professional fees.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.

Other Topics

Lease Extensions in Treuddyn