I am hoping to sign contracts shortly on a ground floor flat in Cardigan. Conveyancing solicitors assured me that they report fully on Monday. What should I be looking out for?

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

• You should receive a copy of the lease

Do you need to have carpet in the flat or are you allowed wood flooring?

Are you allowed to have a pet in the flat?

Ground rent - how much and when you need to pay, and also know whether this will change in the future

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

Responsibility for repairing the window frames

What you can do if a neighbour breach a clause of their lease? For details of the information to be contained in your report on your leasehold property in Cardigan please ask your solicitor in ahead of your conveyancing in Cardigan

Last month I purchased a leasehold property in Cardigan. Am I liable to pay service charges relating to a period prior to my ownership?

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 are your top tips when it comes to appointing a Cardigan conveyancing firm to deal with our lease extension?

If you are instructing a solicitor for your lease extension (regardless if they are a Cardigan conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with two or three firms including non Cardigan conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be helpful:

• How experienced is the firm with lease extension legislation?

What volume of lease extensions has the firm completed in Cardigan in the last year?

Completion in due on our sale of a £350000 maisonette in Cardigan in just under a week. The landlords agents has quoted £336 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Cardigan?

For the majority of leasehold sales in Cardigan conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Completing pre-exchange questions
• Where consent is required before sale in Cardigan
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Cardigan leasehold property is £350. For Cardigan conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to provide answers.

Are there common problems that you witness in leases for Cardigan properties?

There is nothing unique about leasehold conveyancing in Cardigan. All leases is drafted differently and drafting errors can sometimes mean that certain clauses are wrong. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain elements of the building
• A duty to insure the building
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, Chelsea Building Society, and Godiva Mortgages Ltd all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, forcing the buyer to pull out.

I invested in buying a leasehold flat in Cardigan, conveyancing was carried out 2005. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Cardigan with over 90 years remaining are worth £230,000. The ground rent is £55 invoiced every year. The lease ceases on 21st October 2079

With just 55 years unexpired the likely cost is going to be between £27,600 and £31,800 plus professional fees.

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 due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.

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Lease Extensions in Cardigan