Leasehold Conveyancing in Ystrad Mynach - Get a Quote from the leasehold experts approved by your lender

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When it comes to leasehold conveyancing in Ystrad Mynach, you will need to instruct a conveyancing solicitor with leasehold experience. Whether your mortgage company is to be Lloyds, RBS or NatWest make sure you find a lawyer on their panel. Feel free to use our search tool

Top Five Questions relating to Ystrad Mynach leasehold conveyancing

My fiance and I may need to rent out our Ystrad Mynach basement flat for a while due to a new job. We instructed a Ystrad Mynach conveyancing firm in 2001 but they have since shut and we did not think at the time seek any guidance as to whether the lease allows us to sublet. How do we find out?

A small minority of properties in Ystrad Mynach do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to see references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.

I’m about to sell my basement apartment in Ystrad Mynach.Conveyancing lawyers have not yet been instructed but I have just received a half-yearly service charge invoice – what should I do?

It best that you 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 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. Having a clear account will assist your cause and will leave you no worse off financially.

I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a reasonable price which is making it more attractive. I have since been informed that it's a leasehold as opposed to freehold. I would have thought that there are issues purchasing a leasehold house in Ystrad Mynach. Conveyancing lawyers have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Ystrad Mynach ?

The majority of houses in Ystrad Mynach are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Ystrad Mynach so you should seriously consider looking for a Ystrad Mynach conveyancing solicitor and be sure that they are used to advising on leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example requiring the landlord’spermission to carry out changes to the property. It may be necessary to pay a service charge towards the maintenance of the communal areas where the house is located on an estate. Your lawyer will appraise you on the various issues.

I am tempted by the attractive purchase price for a two maisonettes in Ystrad Mynach both have in the region of fifty years left on the lease term. Do I need to be concerned?

There are plenty of short leases in Ystrad Mynach. The 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. This is why it is generally wise to extend the lease term. Sometimes it is difficult to sell a property with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease enfranchisement can be a protracted process. We recommend you seek professional help from a solicitor and surveyor with experience in this field

Can you provide any top tips for leasehold conveyancing in Ystrad Mynach with the aim of expediting the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Ystrad Mynach can be reduced where you instruct lawyers the minute you market your property and ask them to put together the leasehold information needed by the purchasers’ representatives.
  • The majority freeholders or managing agents in Ystrad Mynach charge for supplying management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management pack sought as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Ystrad Mynach.
  • Some Ystrad Mynach leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should notify your estate agents to make sure that the purchasers put in hand bank and professional references. Any bank reference should make it clear that the buyer is able to meet the annual 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 buyers or their lawyers.
  • If there is a history of any disputes with your freeholder or managing agents it is essential that these are settled prior to the flat being marketed. The purchasers and their solicitors will be nervous about purchasing a property where there is a current dispute. You may need to swallow your pride and discharge any arrears of service charge or resolve 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 will still have to reveal details of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as over rather than unresolved.
  • If you hold a share in a the freehold, you should make sure that you are holding the original share document. Arranging a duplicate share certificate is often a time consuming process and delays many a Ystrad Mynach home move. If a duplicate share is needed, you should approach the company officers or managing agents (if applicable) for this as soon as possible.

    • I own a garden flat in Ystrad Mynach, conveyancing formalities finalised half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Ystrad Mynach with over 90 years remaining are worth £166,000. The ground rent is £60 invoiced every year. The lease ends on 21st October 2079

    With just 54 years remaining on your lease the likely cost is going to be between £26,600 and £30,800 plus professional fees.

    The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Ystrad Mynach