Bromley leasehold conveyancing Example Support Desk Enquiries
I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a great price which is making it more attractive. I have subsequently been informed that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a leasehold house in Bromley. Conveyancing solicitors have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Bromley ?
The majority of houses in Bromley are freehold and not 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 Bromley so you should seriously consider shopping around for a Bromley 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 number of years remaining. Being a tenant you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as requiring the freeholder’sconsent to conduct changes to the property. It may be necessary to pay a contribution towards the upkeep of the communal areas where the property is part of an estate. Your conveyancer should advise you fully on all the issues.
Can you offer any advice when it comes to choosing a Bromley conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a solicitor for your lease extension (regardless if they are a Bromley conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with several firms including non Bromley conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:
- How experienced is the firm with lease extension legislation?
Can you provide any top tips for leasehold conveyancing in Bromley with the purpose of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Bromley can be reduced if you get in touch lawyers as soon as your agents start marketing the property and request that they start to collate the leasehold documentation which will be required by the buyers representatives.
- If you have carried out any alterations to the residence would they have required Landlord’s approval? In particular have you laid down wooden flooring? Bromley leases often stipulate that internal structural alterations or laying down wooden flooring calls for a licence from the Landlord consenting to such alterations. If you dont have the paperwork to hand you should not contact the landlord without contacting your conveyancer in advance.
Completion in due on the sale of our £175000 flat in Bromley in just under a week. The landlords agents has quoted £312 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Bromley?
For the majority of leasehold sales in Bromley conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Addressing pre-contract enquiries
- Where consent is required before sale in Bromley
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I inherited a a ground floor purpose built flat in Bromley. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the premium payable for the purchase of the freehold?
Where there is a missing landlord or if there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to decide the price.
An example of a Lease Extension case for a Bromley residence is 70 Andace Park Gardens 133-149 Widmore Road in November 2013. Tribunal determined that the premium payable for the lease extension was £10,052 This case related to 1 flat. The the number of years remaining on the existing lease(s) was 72 years.
In relation to leasehold conveyancing in Bromley what are the most common lease defects?
There is nothing unique about leasehold conveyancing in Bromley. All leases are unique and drafting errors can result in certain clauses are not included. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain parts of the premises
- A duty to insure the building
- 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
A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Santander, 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 problematic they may refuse to provide security, obliging the purchaser to pull out.