I am on look out for some leasehold conveyancing in Whitland. Before I get started I want to be sure as to the number of years remaining on the lease.

Assuming the lease is recorded at the land registry - and almost all are in Whitland - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I've found a house that appears to be perfect, at a reasonable price which is making it all the more appealing. I have since found out that it's a leasehold rather than freehold. I am assuming that there are issues buying a house with a leasehold title in Whitland. Conveyancing lawyers have are about to be instructed. Will they explain the issues?

Most houses in Whitland are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. We note that you are buying in Whitland so you should seriously consider shopping around for a Whitland conveyancing solicitor and check that they have experience in advising on leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example requiring the landlord’spermission to carry out changes to the property. You may also be required to pay a service charge towards the upkeep of the communal areas where the property is located on an estate. Your lawyer will advise you fully on all the issues.

I am attracted to a couple of maisonettes in Whitland which have in the region of 50 years left on the leases. Should I regard a short lease as a deal breaker?

A lease is a legal document that entitles you to use the property for a period of time. As the lease gets shorter the saleability of the lease deteriorate and it becomes 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 such properties. Lease enfranchisement can be a difficult process. We recommend you get professional assistance from a solicitor and surveyor with experience in this arena

Last month I purchased a leasehold flat in Whitland. Do I have any liability for service charges relating to a period prior to completion of my purchase?

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 be sure 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).

Can you provide any top tips for leasehold conveyancing in Whitland with the intention of saving time on the sale process?

• A significant proportion of the delay in leasehold conveyancing in Whitland can be bypassed where you appoint lawyers as soon as you market your property and ask them to put together the leasehold documentation needed by the buyers representatives.
• Many freeholders or managing agents in Whitland charge for providing management packs for a leasehold homes. You or your lawyers should discover the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Whitland.
• Some Whitland leases require Licence to Assign from the landlord. If this applies to your lease, you should notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference will need to confirm that the buyers are financially capable of paying 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 solicitors.
• If you have had conflict with your landlord or managing agents it is essential that these are resolved prior to the flat being put on the market. The purchasers and their solicitors will be reluctant to purchase a flat where a dispute is unresolved. You may need to swallow your pride 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 prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is better to reveal the dispute as over as opposed to unresolved.
• If you are supposed to have a share in the Management Company, you should ensure that you have the original share certificate. Obtaining a duplicate share certificate is often a lengthy formality and frustrates many a Whitland conveyancing transaction. Where a new share certificate is necessary, you should approach the company director and secretary or managing agents (where relevant) for this sooner rather than later.

I purchased a leasehold flat in Whitland, conveyancing formalities finalised 2009. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Whitland with an extended lease are worth £199,000. The ground rent is £65 charged once a year. The lease finishes on 21st October 2105

With only 79 years remaining on your lease we estimate the price of your lease extension to span between £9,500 and £11,000 as well as legals.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed investigations. You should not use the figures in tribunal or court proceedings. 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. Please do not move forward based on this information without first seeking the advice of a professional.