Fixed-fee leasehold conveyancing in Pencoed:

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Recently asked questions relating to Pencoed leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Pencoed. Before I get started I would like to find out the remaining lease term.

If the lease is recorded at the land registry - and 99.9% are in Pencoed - then the leasehold title will always include the short particulars 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.

Expecting to sign contracts shortly on a ground floor flat in Pencoed. Conveyancing solicitors assured me that they are sending me a report within the next couple of days. What should I be looking out for?

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

  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • Defining your legal entitlements in relation to common areas in the block.For example, does the lease include a right of way over an accessway or hallways?
  • Will you be prohibited or prevented from having pets in the property?
  • Whether your lease has a provision for a reserve fund?
  • 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 options are open to you if a neighbour is in violation of a provision in their lease?
  • What the implications are if you breach a clause of your lease? For details of the information to be included in your report on your leasehold property in Pencoed please ask your lawyer in advance of your conveyancing in Pencoed

    • I have just appointed agents to market my basement apartment in Pencoed.Conveyancing solicitors are to be appointed soon but I have just had a half-yearly service charge invoice – what should I do?

    Your conveyancing lawyer is likely to suggest that you should clear the invoice 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've found a house that seems to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have since discovered that it's a leasehold rather than freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Pencoed. Conveyancing solicitors have not yet been appointed. Will they explain the issues?

    Most houses in Pencoed are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. It is clear that you are purchasing in Pencoed in which case you should be looking for a Pencoed conveyancing solicitor and check that they have experience in advising on leasehold houses. As a matter of priority 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 will likely included provisions for example requiring the landlord’spermission to carry out alterations. You may also be required to pay a maintenance charge towards the maintenance of the estate where the house is part of an estate. Your conveyancer will advise you fully on all the issues.

    What advice can you give us when it comes to choosing a Pencoed conveyancing practice to deal with our lease extension?

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

    • If the firm is not ALEP accredited then why not?
  • Can they put you in touch with client in Pencoed who can give a testimonial?

    • I acquired a leasehold flat in Pencoed, conveyancing formalities finalised 8 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Pencoed with a long lease are worth £184,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease runs out on 21st October 2084

    You have 59 years left to run we estimate the premium for your lease extension to be between £23,800 and £27,400 plus costs.

    The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Pencoed