Looking forward to complete next month on a basement flat in Brockley. Conveyancing lawyers assured me that they will have a report out to me tomorrow. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Brockley should include some of the following:

• Defining your rights in relation to the communal areas in the building.E.G., does the lease permit a right of way over a path or hallways?

I own a leasehold house in Brockley. Conveyancing and TSB mortgage organised. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1998. The conveyancing solicitor in Brockley who previously acted has now retired.Do I pay?

The first thing you should do is contact HMLR to be sure that this person is indeed the registered owner of the freehold reversion. There is no need to incur the fees of a Brockley conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am looking at a two apartments in Brockley both have in the region of forty five years remaining on the lease term. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold flat in Brockley is a wasting asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it reduces the salability of the property. The majority of buyers and lenders, leases with less than 75 years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Brockley conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

All being well we will complete the sale of our £325000 maisonette in Brockley in 8 days. The managing agents has quoted £360 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Brockley?

Brockley conveyancing on leasehold apartments usually involves the purchaser’s lawyer sending enquiries for the landlord to address. Although the landlord is not legally bound to address these enquiries the majority will be content to do so. They are at liberty levy a reasonable administration fee for responding to enquiries or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is over three hundred pounds, in some cases it is in excess of £800. The administration charge levied by the landlord must be accompanied by a synopsis of rights and obligations in respect of administration charges, without which the charge is not strictly payable. Reality however dictates that one has little option but to pay whatever is demanded if you want to complete the sale of your home.

I have attempted and failed to negotiate with my landlord for a lease extension without success. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a Brockley conveyancing firm to help?

Where there is a missing landlord or where there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the First-tier Tribunal (Property Chamber) to assess the sum to be paid.

An example of a Lease Extension decision for a Brockley premises is Flat b 14 Kemble Road in May 2014. The Tribunal assessed the value of the premium payable for the lease extension to be £9,761 This case related to 1 flat.

What makes a Brockley lease unacceptable for security purposes?

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

• A provision to repair to or maintain elements of the premises
• A duty to insure the building
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Barnsley Building Society, and TSB 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 problematic they may refuse to grant the mortgage, forcing the buyer to pull out.

Other Topics

Lease Extensions in Brockley