Sample questions relating to Bromley Common leasehold conveyancing
Back In 2005, I bought a leasehold house in Bromley Common. Conveyancing and Nottingham Building Society mortgage are in place. 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 1995. The conveyancing solicitor in Bromley Common who acted for me is not around.What should I do?
The first thing you should do is make enquiries of HMLR to be sure that this person is indeed the new freeholder. It is not necessary to instruct a Bromley Common conveyancing firm to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Can you offer any advice when it comes to appointing a Bromley Common conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a property lawyer for your lease extension (regardless if they are a Bromley Common conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you talk with two or three firms including non Bromley Common conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be helpful:
- How experienced is the practice with lease extension legislation?
Do you have any advice for leasehold conveyancing in Bromley Common from the point of view of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in Bromley Common can be bypassed where you instruct lawyers as soon as you market your property and ask them to put together the leasehold information which will be required by the purchasers’ solicitors.
- The majority landlords or managing agents in Bromley Common charge for supplying management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most common reason for delay in leasehold conveyancing in Bromley Common.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £425000 apartment in Bromley Common next Monday . The management company has quoted £348 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Bromley Common?
Bromley Common conveyancing on leasehold flats often necessitates the buyer’s lawyer submitting questions for the landlord to answer. Although the landlord is under no legal obligation to respond to such questions the majority will be willing to assist. They are at liberty invoice a reasonable charge for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is £350, in some situations it exceeds £800. The administration charge levied by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration charges, otherwise the charge is not strictly payable. Reality however dictates that you have little option but to pay whatever is demanded if you want to sell the property.
I have had difficulty in trying to reach an agreement for a lease extension in Bromley Common. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Absolutely. We are happy to put you in touch with a Bromley Common conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Bromley Common residence is 1 Southlands Court Southlands Road in September 2013. The Leasehold Valuation Tribunal determined that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 was £30,541 This case affected 1 flat. The remaining number of years on the lease was 50.57 years.
What makes a Bromley Common lease unmortgageable?
Leasehold conveyancing in Bromley Common is not unique. All leases are unique and legal mistakes in the legal wording can sometimes mean that certain sections are not included. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain parts of the building
- Insurance obligations
- 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 can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, Skipton Building Society, 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 does not cover certain provisions they may refuse to grant the mortgage, forcing the purchaser to withdraw.