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Treuddyn leasehold conveyancing: Q and A’s

There are only 72 years left on my flat in Treuddyn. I now wish to extend my lease but my landlord is absent. What should I do?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. However, you will be required to prove that you or your lawyers have used your best endeavours to locate the landlord. For most situations an enquiry agent should be useful to carry out a search and to produce a report to be accepted by the court as evidence that the freeholder can not be located. It is advisable to get professional help from a property lawyer in relation to devolving into the landlord’s disappearance and the vesting order request to the County Court covering Treuddyn.

Due to complete next month on a ground floor flat in Treuddyn. Conveyancing lawyers have said that they are sending me a report within the next couple of days. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Treuddyn should include some of the following:

  • You should be sent a copy of the lease
  • The length of the lease term You should be advised as what happens when the lease ends, and aware of the importance of not letting the lease term falling below eighty years
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • Repair and maintenance of the flat
  • Changes to the flat (alterations and additions)
  • What you can do if a neighbour is in violation of a provision in their lease?
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be included in your report on your leasehold property in Treuddyn please enquire of your lawyer in advance of your conveyancing in Treuddyn

    • I am looking at a two apartments in Treuddyn both have in the region of 50 years left on the lease term. should I be concerned?

    There are no two ways about it. A leasehold flat in Treuddyn is a deteriorating asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it reduces the salability of the property. For most purchasers and lenders, leases with under 75 years become less and less marketable. 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 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 Treuddyn 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 Treuddyn conveyancing firm to carry out our lease extension conveyancing?

    If you are instructing a conveyancer for lease extension works (regardless if they are a Treuddyn conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with several firms including non Treuddyn conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

    • How familiar is the firm with lease extension legislation?
  • What are the legal fees for lease extension conveyancing?

    • Do you have any advice for leasehold conveyancing in Treuddyn from the perspective of saving time on the sale process?

    • Much of the delay in leasehold conveyancing in Treuddyn can be reduced if you instruct lawyers as soon as you market your property and request that they start to collate the leasehold information needed by the purchasers’ conveyancers.
    • The majority freeholders or managing agents in Treuddyn levy fees for supplying management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management information sought as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Treuddyn.
  • If you have carried out any alterations to the residence would they have required Landlord’s permission? Have you, for example laid down wooden flooring? Treuddyn leases often stipulate that internal structural changes or laying down wooden flooring calls for a licence issued by the Landlord approving such works. If you fail to have the consents in place do not communicate with the landlord without checking with your solicitor in advance.
  • If there is a history of any disputes with your freeholder or managing agents it is essential that these are resolved before the property is put on the market. The purchasers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is clearly preferable to reveal the dispute as over rather than ongoing.
  • If you have the benefit of shareholding in the Management Company, you should ensure that you hold the original share certificate. Arranging a new share certificate is often a lengthy formality and delays many a Treuddyn home move. Where a duplicate share certificate is required, you should approach the company officers or managing agents (if applicable) for this sooner rather than later.

    • Leasehold Conveyancing in Treuddyn - Sample of Queries before Purchasing

      How much is the ground rent and service charge? Best to be warned if changing the roof or some other significant cost is anticipated to be shared between the tenants and will materially increase the the maintenance fees or result in a one off payment. Are any of leasehold owners in dispute over their service charge liability?

    Other Topics

    Lease Extensions in Treuddyn