Top Five Questions relating to Brent Park leasehold conveyancing
I wish to rent out my leasehold flat in Brent Park. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
Your lease governs the relationship between the freeholder and you the leaseholder; specifically, it will set out if subletting is not allowed, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no expres ban or restriction, subletting is permitted. Most leases in Brent Park do not contain an absolute prevention of subletting – such a clause would undoubtedly devalue the flat. In most cases there is a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.
Planning to complete next month on a garden flat in Brent Park. Conveyancing lawyers inform me that they will have a report out to me tomorrow. What should I be looking out for?
Your report on title for your leasehold conveyancing in Brent Park should include some of the following:
- Defining your rights in respect of common areas in the block.For example, does the lease permit a right of way over a path or staircase?
I am hoping to put an offer on a small detached house that appears to meet my requirements, at a reasonable figure which is making it more attractive. I have since been informed that the title is leasehold as opposed to freehold. I would have thought that there are issues purchasing a house with a leasehold title in Brent Park. Conveyancing advisers have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Brent Park ?
The majority of houses in Brent Park are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Brent Park so you should seriously consider shopping around for a Brent Park conveyancing practitioner and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. As a leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’spermission to carry out alterations. You may also be required to pay a service charge towards the maintenance of the communal areas where the property is located on an estate. Your solicitor will advise you fully on all the issues.
I am attracted to a couple of apartments in Brent Park which have about forty five years left on the leases. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Brent Park. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease shortens the value of the lease decreases and it becomes more expensive to acquire a lease extension. For this reason it is generally wise to extend the lease term. It is often 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 advise that you get professional help from a solicitor and surveyor with experience in this field
Completion in due on the disposal of our £225000 apartment in Brent Park in seven days. The landlords agents has quoted £300 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Brent Park?
Brent Park conveyancing on leasehold maisonettes usually involves the purchaser’s conveyancer submitting enquiries for the landlord to address. Although the landlord is under no legal obligation to answer these enquiries the majority will be willing to do so. They may invoice a reasonable administration fee for answering questions or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is £350, in some transactions it is in excess of £800. The management information fee invoiced by the landlord must be sent together with a synopsis of rights and obligations in relation to administration charges, without which the invoice is not strictly payable. Reality however dictates that one has little option but to pay whatever is demanded if you want to exchange contracts with the buyer.
I have attempted and failed to negotiate with my landlord to extend my lease without success. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a Brent Park conveyancing firm to assist?
in cases where there is a absentee landlord or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to judgment on the sum to be paid.
An example of a Freehold Enfranchisement decision for a Brent Park property is 7 Craven Park in June 2009. The tribunal considered it unnecessary to value the garage as an independent investment or to value each flat separately, providing that the marriage value calculation uses only the participating flats. Accordingly, the price determined by the Tribunal was £41,140 This case affected 5 flats. The the unexpired residue of the current lease was 73.14 years.