Guaranteed fixed fees for Leasehold Conveyancing in Bromley

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Bromley leasehold conveyancing Example Support Desk Enquiries

I am hoping to sign contracts shortly on a leasehold property in Bromley. Conveyancing lawyers inform me that they report fully on Monday. What should I be looking out for?

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

  • You must be told what constitutes a Nuisance in the lease
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • Whether your lease has a provision for a sinking fund?
  • 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
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • What you can do if a neighbour is in violation of a provision in their lease? For a comprehensive list of information to be contained in your report on your leasehold property in Bromley please ask your lawyer in ahead of your conveyancing in Bromley

    • My wife and I purchased a leasehold house in Bromley. Conveyancing and Nottingham Building Society mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1995. The conveyancing practitioner in Bromley who previously acted has now retired.Do I pay?

    The first thing you should do is contact the Land Registry 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 Bromley conveyancing firm to do this as you can do this on the Land Registry website for a few pound. Rest assured 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.

    Last month I purchased a leasehold flat in Bromley. Am I liable to pay service charges relating to a period prior to my ownership?

    Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, 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 be sure 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).

    Do you have any top tips for leasehold conveyancing in Bromley from the perspective of expediting the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Bromley can be bypassed if you appoint lawyers as soon as your agents start marketing the property and ask them to collate the leasehold documentation which will be required by the buyers representatives.
    • Many landlords or Management Companies in Bromley charge for supplying management packs for a leasehold premises. You or your lawyers should enquire as to the fee that they propose to charge. The management information sought on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Bromley.
  • If you have carried out any alterations to the property would they have required Landlord’s permission? In particular have you laid down wooden flooring? Most leases in Bromley state that internal structural changes or laying down wooden flooring require a licence issued by the Landlord approving such alterations. If you dont have the approvals to hand you should not communicate with the landlord without checking with your conveyancer before hand.
  • Some Bromley leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, 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 financially capable of paying the annual 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 actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.
  • If you have the benefit of shareholding in the freehold, you should make sure that you have the original share document. Organising a duplicate share certificate is often a time consuming process and slows down many a Bromley home move. If a reissued share certificate is needed, do contact the company director and secretary or managing agents (where applicable) for this at the earliest opportunity.

    • Following months of correspondence we are unable to agree with our landlord on how much the lease extension should cost for our flat in Bromley. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

    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 decision for a Bromley flat 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.

    What are the frequently found defects that you see in leases for Bromley properties?

    Leasehold conveyancing in Bromley is not unique. Most leases are individual and legal mistakes in the legal wording can result in certain sections 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 property
    • Insurance obligations
    • A provision for the recovery of money spent for the benefit of another party.
    • Service charge per centages that don't add up correctly leaving a shortfall

    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. Lloyds TSB Bank, Norwich and Peterborough Building Society, and Alliance & Leicester all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, obliging the buyer to pull out.