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

Frequently asked questions relating to Borth leasehold conveyancing

I have recently realised that I have Sixty One years remaining on my lease in Borth. I need to extend my lease but my freeholder is can not be found. What are my options?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. You will be obliged to prove that you or your lawyers have used your best endeavours to locate the landlord. In some cases a specialist should be helpful to conduct investigations and prepare an expert document to be accepted by the court as proof that the freeholder can not be located. It is wise to seek advice from a property lawyer in relation to devolving into the landlord’s absence and the vesting order request to the County Court overseeing Borth.

I am hoping to exchange soon on a studio apartment in Borth. Conveyancing solicitors assured me that they report fully next week. What should I be looking out for?

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

  • The total extent of the property. This will be the property itself but may include a loft or basement if appropriate.
  • Does the lease prevent you from renting out the property, or working from home
  • 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
  • Changes to the flat (alterations and additions)
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • What you can do if a neighbour is in violation of a provision in their lease? For a comprehensive list of information to be included in your report on your leasehold property in Borth please ask your conveyancer in advance of your conveyancing in Borth

    • I am hoping to put an offer on a small detached house that appears to be perfect, at a reasonable figure which is making it more attractive. I have subsequently been informed that it's a leasehold rather than freehold. I am assuming that there are issues purchasing a leasehold house in Borth. Conveyancing solicitors have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Borth ?

    Most houses in Borth are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. It is clear that you are buying in Borth so you should seriously consider shopping around for a Borth conveyancing solicitor and check that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example obtaining the freeholder’spermission to conduct changes to the property. It may be necessary to pay a service charge towards the maintenance of the communal areas where the property is located on an estate. Your conveyancer will advise you fully on all the issues.

    I've recently bought a leasehold house in Borth. Do I have any liability for service charges for periods before 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. It is an essential part 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).

    Can you provide any advice for leasehold conveyancing in Borth with the intention of saving time on the sale process?

    • Much of the frustration in leasehold conveyancing in Borth can be reduced where you appoint lawyers the minute you market your property and ask them to collate the leasehold information needed by the buyers solicitors.
    • The majority landlords or Management Companies in Borth levy fees for providing management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management information sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common cause of delay in leasehold conveyancing in Borth.
  • A minority of Borth leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to place the estate agents on notice 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 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 service charge figures so that they can pass this information on to the buyers or their lawyers.
  • If you hold a share in a the freehold, you should make sure that you hold the original share document. Arranging a duplicate share certificate can be a time consuming formality and frustrates many a Borth conveyancing deal. If a reissued share certificate is necessary, you should approach the company director and secretary or managing agents (where applicable) for this sooner rather than later.
  • You may think that you are aware of the number of years left on your lease but it would be advisable verify this by asking your lawyers. A buyer’s lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is under 80 years. It is therefore important at an early stage that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • I purchased a leasehold flat in Borth, conveyancing formalities finalised in 2011. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Borth with an extended lease are worth £169,000. The ground rent is £60 yearly. The lease expires on 21st October 2076

    You have 52 years unexpired the likely cost is going to range between £31,400 and £36,200 as well as legals.

    The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of detailed investigations. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Borth