Leasehold Conveyancing in Colwyn Bay - Get a Quote from the leasehold experts approved by your lender

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Leasehold conveyancing in Colwyn Bay is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Colwyn Bay and next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Frequently asked questions relating to Colwyn Bay leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Colwyn Bay. Before diving in I would like to find out the unexpired term of the lease.

If the lease is registered - and most are in Colwyn Bay - 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 would like to rent out my leasehold apartment in Colwyn Bay. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

Some leases for properties in Colwyn Bay do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably refuse but, in such cases, they would need to see references. Experience suggests 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.

My wife and I purchased a leasehold house in Colwyn Bay. Conveyancing and Leeds Building Society mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1995. The conveyancing practitioner in Colwyn Bay who acted for me is not around.Any advice?

The first thing you should do is contact the Land Registry to make sure that this person is indeed the registered owner of the freehold reversion. There is no need to instruct a Colwyn Bay conveyancing firm to do this as it can be done on-line for less than a fiver. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am a negotiator for a long established estate agent office in Colwyn Bay where we have experienced a number of flat sales derailed due to leases having less than 80 years remaining. I have been given inconsistent advice from local Colwyn Bay conveyancing solicitors. Can you shed some light as to whether the owner of a flat can initiate the lease extension process for the buyer?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start 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 has to be done prior to, or at the same time as completion of the sale.

Alternatively, it may be possible 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 Colwyn Bay from the perspective of expediting the sale process?

  • Much of the delay in leasehold conveyancing in Colwyn Bay can be reduced if you get in touch lawyers the minute you market your property and request that they start to put together the leasehold information which will be required by the buyers representatives.
  • Many landlords or Management Companies in Colwyn Bay levy fees for supplying management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management pack can be applied for 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 frequent cause of frustration in leasehold conveyancing in Colwyn Bay.
  • If you have had conflict with your freeholder or managing agents it is very important that these are settled prior to the flat being marketed. The buyers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You may need to swallow your pride and pay 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 present the dispute as over as opposed to ongoing.
  • If you are supposed to have a share in the Management Company, you should make sure that you hold the original share certificate. Arranging a new share certificate can be a time consuming process and slows down many a Colwyn Bay home move. If a new share certificate is required, do contact the company officers or managing agents (where relevant) for this at the earliest opportunity.
  • You may think that you are aware of the number of years left on your lease but it would be advisable double-check via your solicitors. A buyer’s lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is under 80 years. It is therefore essential at an as soon as possible that you consider 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 own a leasehold flat in Colwyn Bay, conveyancing having been completed 6 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding flats in Colwyn Bay with over 90 years remaining are worth £264,000. The ground rent is £50 charged once a year. The lease ceases on 21st October 2096

    With 70 years unexpired we estimate the premium for your lease extension to range between £11,400 and £13,200 as well as costs.

    The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed investigations. Do not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.

    Other Topics

    Lease Extensions in Colwyn Bay