Fixed-fee leasehold conveyancing in Tywyn:

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While any conveyancing solicitor can theoretically handle your leasehold conveyancing in Tywyn, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Top Five Questions relating to Tywyn leasehold conveyancing

Looking forward to sign contracts shortly on a ground floor flat in Tywyn. Conveyancing solicitors have said that they will have a report out to me next week. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Tywyn should include some of the following:

  • The physical extent of the demise. This will be the apartment itself but might incorporate a roof space or cellar if appropriate.
  • You need to be told what counts as a Nuisance in the lease
  • Changes to the flat (alterations and additions)
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • Responsibility for repairing the window frames
  • 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 details of the information to be contained in your report on your leasehold property in Tywyn please enquire of your lawyer in advance of your conveyancing in Tywyn

    • Estate agents have just been given the go-ahead to market my basement apartment in Tywyn.Conveyancing is yet to be initiated but I have just had a yearly service charge invoice – should I leave it to the buyer to sort out?

    Your conveyancing lawyer is likely to suggest that you should discharge 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 unless 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 flat in Tywyn. Conveyancing and Nationwide Building Society mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1996. The conveyancing solicitor in Tywyn who previously acted has long since retired.What should I do?

    First make enquiries of HMLR to be sure that the individual purporting to own the freehold is in fact the new freeholder. You do not need to instruct a Tywyn conveyancing practitioner to do this as you can do this on the Land Registry website for £3. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

    I work for a long established estate agency in Tywyn where we see a number of leasehold sales derailed due to short leases. I have been given inconsistent advice from local Tywyn conveyancing firms. Could you confirm whether the seller of a flat can start the lease extension formalities for the purchaser on completion of the sale?

    Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.

    An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

    Can you provide any advice for leasehold conveyancing in Tywyn from the perspective of speeding up the sale process?

    • Much of the frustration in leasehold conveyancing in Tywyn can be bypassed if you appoint lawyers as soon as you market your property and request that they start to collate the leasehold documentation which will be required by the purchasers’ conveyancers.
    • If you have carried out any alterations to the residence would they have required Landlord’s permission? Have you, for example installed wooden flooring? Tywyn leases often stipulate that internal structural alterations or laying down wooden flooring necessitate a licence issued by the Landlord acquiescing to such changes. Where you fail to have the paperwork in place do not communicate with the landlord without contacting your conveyancer before hand.
  • Some Tywyn leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should notify your estate agents to make sure that the purchasers put in hand bank and professional references. The bank reference will need to confirm that the buyers are able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers.
  • If there is a history of any disputes with your landlord or managing agents it is essential that these are resolved prior to the flat being marketed. The buyers and their solicitors will be warry about purchasing 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 will still have to reveal details of the dispute to the purchasers, but it is better to present the dispute as historic rather than ongoing.
  • If you are supposed to have a share in the Management Company, you should make sure that you hold the original share document. Obtaining a duplicate share certificate is often a time consuming formality and slows down many a Tywyn conveyancing deal. If a duplicate share certificate is needed, do contact the company officers or managing agents (if applicable) for this sooner rather than later.

    • I own a basement flat in Tywyn, conveyancing formalities finalised half a dozen years ago. How much will my lease extension cost? Comparable flats in Tywyn with an extended lease are worth £178,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease terminates on 21st October 2084

    With just 59 years left to run we estimate the price of your lease extension to span between £20,900 and £24,200 as well as legals.

    The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Tywyn