Sample questions relating to Brentford leasehold conveyancing
My wife and I purchased a leasehold flat in Brentford. Conveyancing and Norwich and Peterborough Building Society mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1998. The conveyancing solicitor in Brentford who acted for me is not around.What should I do?
First make enquiries of the Land Registry to be sure that this person is in fact the new freeholder. There is no need to instruct a Brentford conveyancing solicitor to do this as it can be done on-line for £3. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I work for a long established estate agency in Brentford where we have experienced a few leasehold sales derailed due to short leases. I have received contradictory information from local Brentford conveyancing firms. Could you shed some light as to whether the vendor of a flat can initiate the lease extension process for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
What advice can you give us when it comes to finding a Brentford conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a conveyancer for your lease extension (regardless if they are a Brentford conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We advise that you speak with two or three firms including non Brentford 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:
- How many lease extensions have they completed in Brentford in the last twenty four months?
- Can they put you in touch with client in Brentford who can give a testimonial?
Can you provide any top tips for leasehold conveyancing in Brentford from the point of view of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Brentford can be avoided if you get in touch lawyers the minute your agents start advertising the property and request that they start to collate the leasehold documentation needed by the purchasers’ conveyancers.
- The majority landlords or Management Companies in Brentford levy fees for providing management packs for a leasehold property. You or your lawyers should discover the actual amount of the charges. The management information sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Brentford.
- In the event that you altered the property did you need the Landlord’s consent? In particular have you laid down wooden flooring? Most leases in Brentford state that internal structural alterations or addition of wooden flooring require a licence from the Landlord consenting to such alterations. If you dont have the consents in place do not communicate with the landlord without checking with your solicitor before hand.
- If you are supposed to have a share in the Management Company, you should ensure that you hold the original share certificate. Organising a replacement share certificate can be a time consuming formality and frustrates many a Brentford conveyancing transaction. If a reissued share certificate is needed, do contact the company director and secretary or managing agents (if applicable) for this at the earliest opportunity.
- You believe that you know the number of years left on your lease but you should double-check via your lawyers. A buyer’s conveyancer will be unlikely to recommend their client to to exchange contracts if the lease term is under 75 years. It is therefore important at an early stage that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.
Following months of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in Brentford. Can we issue an application to the Residential Property Tribunal Service?
Where there is a missing landlord or where there is disagreement about the premium for a lease extension, under the relevant legislation it is possible to make an application to the Leasehold Valuation Tribunal to make a decision on the amount due.
An example of a Freehold Enfranchisement decision for a Brentford flat is 105 & 105A Seaford Road in July 2013. The tribunal determined that the price payable for the freehold interest in the Property was £43,985 . This sum was to be paid into Brentford County Court to enable the matter to proceed This case related to 2 flats.
In relation to leasehold conveyancing in Brentford what are the most common lease defects?
There is nothing unique about leasehold conveyancing in Brentford. Most leases are individual and drafting errors can result in certain sections are erroneous. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain elements of the building
- Insurance obligations
- 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 encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, Virgin Money, and Godiva Mortgages Ltd all have very detailed 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, obliging the buyer to pull out.
I bought a studio flat in Brentford, conveyancing having been completed 2005. Can you work out an approximate cost of a lease extension? Comparable properties in Brentford with over 90 years remaining are worth £262,000. The ground rent is £65 per annum. The lease ends on 21st October 2104
With 78 years unexpired we estimate the premium for your lease extension to be between £12,400 and £14,200 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There may be other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.