Why is leasehold purchase conveyancing in Bargoed costs more?

The conveyancing fees on a leasehold property in Bargoed is inevitably higher than on a freehold residence. This is due to the additional time required in corresponding with the landlord and managing agents to obtain evidence about whether the rent and service fee have been paid and whether there are any significant expenditure in the near future on repairs or maintenance of the block.

I completed on my house on 10 March and my personal details is not yet registered. Need I be worried? My conveyancing solicitor in Bargoed said it would be concluded in a couple of weeks. Are titles in Bargoed particularly slow to register?

There is nothing unique about conveyancing in Bargoed registration formalities. As opposed to being determined by geographic area, timescales can vary depending on who lodges the application, whether there are errors and if the Land registry have to notify any other persons or bodies. As of today in the region of three quarters of such applications are completed within two weeks but occasionally there can be protracted hold-ups. Historically registration occurs once the new owner has moved in to the property thus 'speed' is not typically primary concern yet where it is urgent that the the registration takes place urgently then you or your conveyancer can communicate with the Registry to express the reasoning for an expedited registration.

I have been on the look out for a leasehold apartment up to £245,000 and found one near me in Bargoed I like with amenity areas and transport links nearby, however it's only got 61 remaining years left on the lease. I can't really find anything else in Bargoed suitable, so just wondered if I would be making a grave error purchasing a short lease?

If you need a home loan the remaining unexpired lease term will be problematic. Discount the offer by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of twenty four months you may request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.

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

When appointing a solicitor for your lease extension (regardless if they are a Bargoed conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We suggest that you make enquires with two or three firms including non Bargoed conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. The following questions might be helpful:

Can they put you in touch with clients in Bargoed who can give a testimonial?

I inherited a basement flat in Bargoed, conveyancing formalities finalised half a dozen years ago. How much will my lease extension cost? Similar flats in Bargoed with a long lease are worth £206,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease terminates on 21st October 2091

With only 67 years left to run we estimate the price of your lease extension to be between £10,500 and £12,000 plus plus your own and the landlord's "reasonable" professional fees.

The figure above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.

Can I discover who owns a property in Bargoed?

On the basis that the property is recorded at HMLR, and you have the details of the address of the property, you should be able to see details from the HMLR of the recorded owner for a fee.