I am hoping to put an offer on a small detached house that appears to be perfect, at a reasonable price which is making it more attractive. I have subsequently been informed that it's a leasehold rather than freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Treuddyn. Conveyancing solicitors have are soon to be instructed. Will they explain the issues?

Most houses in Treuddyn are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in Treuddyn in which case you should be looking for a Treuddyn conveyancing practitioner and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as obtaining the freeholder’spermission to conduct alterations. It may be necessary to pay a service charge towards the upkeep of the communal areas where the house is located on an estate. Your solicitor will report to you on the legal implications.

I am looking at a couple of apartments in Treuddyn both have about fifty years unexpired on the lease term. Will this present a problem?

There are no two ways about it. A leasehold flat in Treuddyn is a wasting asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it adversely affects the marketability of the premises. The majority of buyers and lenders, leases with under eighty years become less and less attractive. On a more positive 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 premises 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 Treuddyn conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending 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 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.

Last month I purchased a leasehold flat in Treuddyn. Do I have any liability for service charges relating to a period prior to my ownership?

In a situation 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. 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).

Do you have any top tips for leasehold conveyancing in Treuddyn with the aim of expediting the sale process?

• A significant proportion of the delay in leasehold conveyancing in Treuddyn can be bypassed where you get in touch lawyers as soon as your agents start advertising the property and ask them to put together the leasehold documentation which will be required by the buyers solicitors.
• Many freeholders or managing agents in Treuddyn levy fees for providing management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Treuddyn.
• In the event that you altered the property did you need the Landlord’s consent? In particular have you laid down wooden flooring? Treuddyn leases often stipulate that internal structural alterations or installing wooden flooring calls for a licence issued by the Landlord approving such alterations. Where you dont have the consents in place do not contact the landlord without checking with your solicitor before hand.
• If you have had conflict with your landlord or managing agents it is very important that these are settled prior to the flat being marketed. The purchasers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You may have to bite the bullet and pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is better to present the dispute as historic as opposed to ongoing.
• If you have the benefit of shareholding in the freehold, you should ensure that you are holding the original share certificate. Organising a re-issued share certificate is often a time consuming formality and delays many a Treuddyn home move. Where a new share certificate is necessary, you should approach the company officers or managing agents (if relevant) for this at the earliest opportunity.

What makes a Treuddyn lease problematic?

Leasehold conveyancing in Treuddyn is not unique. All leases are individual and drafting errors can result in certain sections 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 property
• 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

A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Skipton Building Society, and Aldermore all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, obliging the buyer to withdraw.

Treuddyn Leasehold Conveyancing - Examples of Questions you should consider Prior to buying

It is important to be aware if fixing the lift or some other major work is due in the foreseeable future to be shared by the tenants and will materially impact the level of the maintenance charges or necessitate a specific payment. Its a good idea to discover as much as you can concerning the company managing the block as they will affect your use and enjoyment of the property. As the proprietor of a leasehold property you will be at the mercy of the managing agents from a financial perspective and when it comes to every day matters like the upkeep of the common parts. Enquire of other tenants whether they are happy with their management. On a final note, find out the dates that the service fees are due to the relevant party and specifically what it includes.