Examples of recent questions relating to leasehold conveyancing in Brentwood
Having had my offer accepted I require leasehold conveyancing in Brentwood. Before I set the wheels in motion I would like to find out the unexpired term of the lease.
If the lease is registered - and 99.9% are in Brentwood - 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.
I am intending to let out my leasehold apartment in Brentwood. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
Some leases for properties in Brentwood do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably withhold but, in such cases, they would need to review 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.
I am looking at a couple of flats in Brentwood both have approximately 50 years unexpired on the leases. Do I need to be concerned?
A lease is a right to use the property for a period of time. As the lease shortens the value of the lease decreases and it becomes more costly to acquire a lease extension. For this reason it is advisable to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage companies may be reluctant to lend money on properties of this type. Lease enfranchisement can be a difficult process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this arena
Last month I purchased a leasehold property in Brentwood. Am I liable to pay service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure 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).
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £ 425000 apartment in Brentwood on Wednesday in a week. The managing agents has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Brentwood?
Brentwood conveyancing on leasehold flats usually involves fees being raised by landlords agents :
- Completing conveyancing due diligence enquiries
- Where consent is required before sale in Brentwood
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I own a second floor flat in Brentwood. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the premium due for a lease extension?
Where there is a absentee landlord or where there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to decide the price.
An example of a Lease Extension decision for a Brentwood flat is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case was in relation to 1 flat. The unexpired lease term was 57.5 years.
I acquired a split level flat in Brentwood, conveyancing having been completed in 1997. 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? Comparable flats in Brentwood with a long lease are worth £189,000. The ground rent is £65 per annum. The lease comes to an end on 21st October 2077
You have 51 years remaining on your lease we estimate the price of your lease extension to range between £38,000 and £44,000 as well as professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you 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 may be other 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 based on this information before seeking the advice of a professional.