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Recently asked questions relating to Brockley leasehold conveyancing

Looking forward to sign contracts shortly on a leasehold property in Brockley. Conveyancing solicitors inform me that they are sending me a report within the next couple of days. What should I be looking out for?

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

  • The length of the lease term You should be advised as what happens when the lease ends, and aware of the importance of not letting the lease term falling below eighty years
  • The physical extent of the premises. This will be the apartment itself but may include a roof space or cellar if applicable.
  • Are pets allowed in the flat?
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • You should have a good understanding of the insurance provisions
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • What the implications are if you breach a clause of your lease? For details of the information to be included in your report on your leasehold property in Brockley please ask your lawyer in ahead of your conveyancing in Brockley

    • I today plan to offer on a house that seems to be perfect, at a great figure which is making it more attractive. I have since discovered that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Brockley. Conveyancing solicitors have not yet been appointed. Will they explain the issues?

    The majority of houses in Brockley are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. We note that you are purchasing in Brockley so you should seriously consider looking for a Brockley conveyancing solicitor and check that they are used to advising on leasehold houses. First 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 such as obtaining the landlord’sconsent to conduct changes to the property. It may be necessary to pay a service charge towards the upkeep of the estate where the property is part of an estate. Your lawyer should report to you on the legal implications.

    I am attracted to a couple of flats in Brockley which have in the region of forty five years unexpired on the lease term. Will this present a problem?

    A lease is a legal document that entitles you to use the premises for a period of time. As a lease gets shorter the saleability of the lease reduces and it becomes more expensive to acquire a lease extension. For this reason it is often a good idea to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease because mortgage companies may be unwilling to lend money on properties of this type. Lease enfranchisement can be a protracted process. We advise that you seek professional help from a solicitor and surveyor with experience in this field

    I've recently bought a leasehold property in Brockley. Am I liable to pay service charges for periods before my ownership?

    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. It is an essential part 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).

    Can you provide any advice for leasehold conveyancing in Brockley with the intention of expediting the sale process?

    • Much of the delay in leasehold conveyancing in Brockley can be reduced where you appoint lawyers as soon as you market your property and request that they start to put together the leasehold documentation which will be required by the purchasers’ conveyancers.
    • 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 Brockley state that internal structural changes or installing wooden flooring calls for a licence issued by the Landlord acquiescing to such works. If you fail to have the approvals in place do not contact the landlord without checking with your conveyancer in advance.
  • Some Brockley leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. Any bank reference should make it clear that the buyer is able to meet the yearly 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 service charge figures so that they can pass this information on to the purchasers or their solicitors.
  • If you have had conflict with your freeholder or managing agents it is essential that these are resolved before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You will have to accept that you will have to discharge 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 particulars of the dispute to the purchasers, but it is better to reveal the dispute as over rather than unsettled.
  • You believe that you know the number of years remaining on your lease but you should verify this by asking your conveyancers. A purchaser's lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is under 75 years. In the circumstances it is important at an early stage that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

    • My wife and I have hit a brick wall in seeking a lease extension in Brockley. Can this matter be resolved via the Leasehold Valuation Tribunal?

    Most certainly. We are happy to put you in touch with a Brockley conveyancing firm who can help.

    An example of a Lease Extension case for a Brockley property 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 was in relation to 1 flat.

    Other Topics

    Lease Extensions in Brockley