I am on look out for some leasehold conveyancing in Pencoed. Before I get started I require certainty as to the unexpired term of the lease.

If the lease is registered - and most 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.

Last month I purchased a leasehold property in Pencoed. Am I liable to pay service charges for periods before completion of my purchase?

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. Strange as it may seem, 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 be sure 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 offer any advice when it comes to finding a Pencoed conveyancing practice to deal with our lease extension?

If you are instructing a property lawyer for lease extension works (regardless if they are a Pencoed conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk 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 of use:

• If the firm is not ALEP accredited then why not?

Completion in due on the sale of our £150000 garden flat in Pencoed on Tuesday in a week. The landlords agents has quoted £372 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Pencoed?

Pencoed conveyancing on leasehold maisonettes normally requires the buyer’s conveyancer submitting enquiries for the landlord to answer. Although the landlord is under no legal obligation to answer these enquiries most will be willing to do so. They are entitled invoice a reasonable administration fee for answering enquiries or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is over three hundred pounds, in some cases it is in excess of £800. The administration charge required by the landlord must be accompanied by a synopsis of entitlements and obligations in respect of administration fees, otherwise the invoice is not strictly payable. In reality one has no option but to pay whatever is demanded should you wish to complete the sale of your home.

Are there frequently found problems that you encounter in leases for Pencoed properties?

Leasehold conveyancing in Pencoed is not unique. Most leases are unique and legal mistakes in the legal wording can sometimes mean that certain sections 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 premises
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

You could have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Chelsea Building Society, and Platform Home Loans Ltd all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, forcing the purchaser to pull out.

Pencoed Conveyancing for Leasehold Flats - Sample of Queries Prior to buying

Is the freehold reversion owned collectively by the leaseholders? Be sure to investigate if there is anything that is prohibited in the lease. For instance it is very common in Pencoed leases that pets are not allowed in certain buildings in Pencoed. If you love the apartmentin Pencoed yet your cat can’t live with you then you have a very difficult decision. Many Pencoed leasehold apartments will have a service charge for maintenance of the building invoiced by the management company. Where you acquire the apartment you will have to pay this liability, normally in instalments throughout the year. This may be anything from several hundred pounds to thousands of pounds for blocks with lifts and large communal areas. There will also be a rentcharge to be met annual, this is usually not a large sum, say about £50-£100 but you should to check as occasionally it could be many hundreds of pounds.

Other Topics

Lease Extensions in Pencoed