Questions and Answers: Bromley leasehold conveyancing
I only have 68 years unexpired on my flat in Bromley. I need to extend my lease but my landlord is can not be found. What options are available to me?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. However, you will be required to prove that you or your lawyers have used your best endeavours to track down the freeholder. For most situations a specialist should be helpful to try and locate and to produce an expert document to be used as evidence that the freeholder is indeed missing. It is wise to seek advice from a property lawyer in relation to devolving into the landlord’s disappearance and the vesting order request to the County Court covering Bromley.
My wife and I purchased a leasehold flat in Bromley. Conveyancing and Nottingham Building Society mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1996. The conveyancing solicitor in Bromley who acted for me is not around.Do I pay?
First contact HMLR to make sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. You do not need to instruct a Bromley conveyancing lawyer to do this as it can be done on-line for less than a fiver. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am tempted by the attractive purchase price for a couple of maisonettes in Bromley which have approximately fifty years unexpired on the lease term. should I be concerned?
A lease is a right to use the property for a period of time. As the lease shortens the saleability of the lease deteriorate and it becomes more costly to acquire a lease extension. This is why it is advisable to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this arena
Can you provide any top tips for leasehold conveyancing in Bromley from the perspective of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Bromley can be bypassed if you instruct lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold documentation which will be required by the purchasers’ conveyancers.
- Many landlords or managing agents in Bromley charge for supplying management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Bromley.
Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £150000 maisonette in Bromley in just under a week. The landlords agents has quoted £384 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Bromley?
Bromley conveyancing on leasehold maisonettes usually results in fees being levied by freeholders :
- Addressing pre-exchange enquiries
- Where consent is required before sale in Bromley
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I have attempted and failed to negotiate with my landlord to extend my lease without any joy. Can I make an application to the Leasehold Valuation Tribunal? Can you recommend a Bromley conveyancing firm to act on my behalf?
You certainly can. We are happy to put you in touch with a Bromley conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Bromley residence is 26 Rhondda Grove in June 2009. The net price payable by the leaseholders as determined by the Tribunal was £3,015.13. This comprised £11,300 premium for the reversion less £8,284.87 costs as ordered by the County Court.