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

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Leasehold conveyancing in Pencoed 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 Pencoed and throughout next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Top Five Questions relating to Pencoed leasehold conveyancing

Helen (my wife) and I may need to rent out our Pencoed basement flat temporarily due to a career opportunity. We instructed a Pencoed 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 permits subletting. How do we find out?

Your lease dictates the relationship between the freeholder and you the flat owner; in particular, it will set out if subletting is prohibited, or permitted but only subject to certain conditions. The rule is that if the lease contains no specific ban or restriction, subletting is allowed. The majority of leases in Pencoed do not contain strict prohibition on subletting – such a clause would adversely affect the market value the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly sending a copy of the sublease.

Expecting to exchange soon on a basement flat in Pencoed. Conveyancing lawyers have said that they will have a report out to me tomorrow. Are there areas in the report that I should be focusing on?

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

  • The unexpired lease term You should be advised as what happens when the lease ends, and informed of the importance of the 80 year mark
  • The total extent of the premises. This will be the apartment itself but might incorporate a loft or cellar if applicable.
  • Defining your legal entitlements in respect of the communal areas in the building.For example, does the lease provide for a right of way over a path or staircase?
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • 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
  • Responsibility for repairing the window frames For a comprehensive list of information to be contained in your report on your leasehold property in Pencoed please enquire of your lawyer in advance of your conveyancing in Pencoed

    • I have just started marketing my 2 bed apartment in Pencoed.Conveyancing lawyers have not yet been instructed but I have just received a quarterly service charge demand – should I leave it to the buyer to sort out?

    Your conveyancing lawyer is likely to suggest that you should 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 unless 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 be perfect, at a reasonable figure which is making it more attractive. I have just discovered that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Pencoed. Conveyancing lawyers have are about to be 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 conveyancer who is familiar with the area can help the conveyancing process. It is clear that you are purchasing in Pencoed so you should seriously consider shopping around for a Pencoed conveyancing practitioner and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as requiring the freeholder’sconsent to carry out changes to the property. You may also be required to pay a service charge towards the maintenance of the communal areas where the property is part of an estate. Your lawyer should report to you on the legal implications.

    What are your top tips when it comes to choosing a Pencoed conveyancing firm to deal with our lease extension?

    If you are instructing a property lawyer 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 several firms including non Pencoed conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be helpful:

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

    • I acquired a basement flat in Pencoed, conveyancing was carried out 3 years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent properties in Pencoed with over 90 years remaining are worth £229,000. The ground rent is £50 invoiced every year. The lease expires on 21st October 2099

    With only 74 years remaining on your lease we estimate the price of your lease extension to range between £10,500 and £12,000 as well as costs.

    The figure above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There may be other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.

    Other Topics

    Lease Extensions in Pencoed