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Recently asked questions relating to Brent Cross leasehold conveyancing

I today plan to offer on a house that appears to be perfect, at a reasonable figure which is making it more attractive. I have since discovered that it's a leasehold as opposed to freehold. I am assuming that there are issues purchasing a house with a leasehold title in Brent Cross. Conveyancing lawyers have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Brent Cross ?

Most houses in Brent Cross are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are purchasing in Brent Cross so you should seriously consider looking for a Brent Cross conveyancing solicitor and be sure that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example requiring the landlord’sconsent to conduct alterations. It may be necessary to pay a service charge towards the maintenance of the estate where the property is located on an estate. Your conveyancer should advise you fully on all the issues.

I am tempted by the attractive purchase price for a two maisonettes in Brent Cross which have about fifty years unexpired on the leases. Will this present a problem?

There are plenty of short leases in Brent Cross. The lease is a legal document that entitles you to use the premises for a period of time. As the lease gets shorter the marketability of the lease reduces and it becomes more expensive to acquire a lease extension. This is why it is advisable to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders may be unwilling to lend money on such properties. Lease enfranchisement can be a protracted process. We advise that you get professional assistance from a solicitor and surveyor with experience in this arena

What advice can you give us when it comes to finding a Brent Cross conveyancing practice to deal with our lease extension?

If you are instructing a property lawyer for lease extension works (regardless if they are a Brent Cross conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Brent Cross conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be useful:

  • How experienced is the firm with lease extension legislation?
  • What volume of lease extensions has the firm completed in Brent Cross in the last year?

    • Do you have any advice for leasehold conveyancing in Brent Cross from the point of view of expediting the sale process?

    • Much of the frustration in leasehold conveyancing in Brent Cross can be avoided where you get in touch lawyers the minute you market your property and request that they start to put together the leasehold documentation needed by the purchasers’ lawyers.
    • If you have carried out any alterations to the property would they have required Landlord’s permission? Have you, for example installed wooden flooring? Most leases in Brent Cross state that internal structural changes or installing wooden flooring require a licence issued by the Landlord consenting to such changes. If you fail to have the paperwork in place you should not contact the landlord without checking with your lawyer before hand.
  • Some Brent Cross leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. The bank reference will need to confirm that the buyers are able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers.
  • If there is a history of conflict with your freeholder or managing agents it is very important that these are resolved prior to the flat being put on the market. The purchasers and their solicitors will be reluctant to purchase a property where there is a current dispute. You may need to swallow your pride and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is better to reveal the dispute as over rather than ongoing.
  • You believe that you know the number of years left on your lease but it would be advisable verify this by asking your conveyancers. A buyer’s lawyer will not be happy to advise their client to to exchange contracts if the remaining number of years is below 80 years. It is therefore important at an as soon as possible that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • Following years of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in Brent Cross. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

    Where there is a missing freeholder or where there is dispute about what the lease extension should cost, under the relevant statutes it is possible to make an application to the Leasehold Valuation Tribunal to arrive at the sum to be paid.

    An example of a Lease Extension case for a Brent Cross residence is First Floor Flat 61 Wilberforce Road in March 2014. The premium payable was £10,130 and the case was remitted back to the Willesden County Court to effect the Vesting Order (Claim No 3W103100). This case affected 1 flat. The the number of years remaining on the existing lease(s) was 71 years.

    What are the frequently found problems that you witness in leases for Brent Cross properties?

    Leasehold conveyancing in Brent Cross is not unique. Most leases are unique and legal mistakes in the legal wording can result in certain provisions are missing. For example, if your lease is missing any of the following, it could be defective:

    • A provision to repair to or maintain parts of the premises
    • Insurance obligations
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Service charge per centages that don't add up correctly leaving a shortfall

    You may encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, The Mortgage Works, and Alliance & Leicester 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 buyer to withdraw.

    Other Topics

    Lease Extensions in Brent Cross