Estate agents have just been given the go-ahead to market my ground floor flat in Tywyn.Conveyancing has not commenced but I have just had a half-yearly service charge demand – what should I do?

Your conveyancing lawyer is likely to suggest that you should clear the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

My wife and I purchased a leasehold house in Tywyn. Conveyancing and Skipton Building Society mortgage are in place. I have received a letter from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1992. The conveyancing practitioner in Tywyn who acted for me is not around.Do I pay?

First make enquiries of the Land Registry to make sure that the individual claiming to own the freehold is in fact the new freeholder. There is no need to instruct a Tywyn conveyancing practitioner to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am attracted to a two maisonettes in Tywyn both have about fifty years unexpired 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 a lease gets shorter the saleability of the lease reduces and results in it becoming more expensive to extend the lease. For this reason it is often a good idea to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We advise that you seek professional help from a solicitor and surveyor with experience in this area

I've recently bought a leasehold flat in Tywyn. 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. However, your landlord may still be able to take action to forfeit the lease. A critical element 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 Tywyn conveyancing firm to deal with our lease extension?

When appointing a property lawyer for lease extension works (regardless if they are a Tywyn conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with two or three firms including non Tywyn conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:

• If the firm is not ALEP accredited then why not?

Tywyn Leasehold Conveyancing - A selection of Questions you should ask before buying

You should want 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 owner of a leasehold property you will be at the mercy of the managing agents both financially and when it comes to practical issues like the cleanliness of the communal areas. Ask prospective neighbours what they think of their management. On a final note, investigate as to the dates that the maintenance fees are due to the managing agents and specifically what you get for your money. In the main the outlay for major works are not included within maintenance charges, albeit that there some managing agents in Tywyn require leasehold owners to contribute towards a sinking fund created for the specific intention of building a fund for larger works. If a Tywyn lease has fewer than eighty years it will affect the marketability of the property. Check with your lender that they are happy with residual term of the lease. A short lease means that you will probably have to extend the lease sooner rather than later and it is worth finding out how much this would cost. Remember, in most cases you would be be obliged to have owned the property for two years before you are legally able to exercise a lease extension.

Other Topics

Lease Extensions in Tywyn