Quality lawyers for Leasehold Conveyancing in Bromley

Leasehold conveyancing in Bromley is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Bromley and throughout next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Bromley leasehold conveyancing: Q and A’s

I am in need of some leasehold conveyancing in Bromley. Before I set the wheels in motion I require certainty as to the remaining lease term.

Assuming the lease is recorded at the land registry - and 99.9% are in Bromley - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

There are only Fifty years unexpired on my flat in Bromley. I now want to extend my lease but my landlord is absent. What are my options?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. You will be obliged to prove that you or your lawyers have made all reasonable attempts to find the landlord. In some cases a specialist should be helpful to try and locate and prepare an expert document to be used as proof that the freeholder can not be located. It is wise to seek advice from a solicitor in relation to investigating the landlord’s disappearance and the vesting order request to the County Court overseeing Bromley.

Looking forward to complete next month on a leasehold property in Bromley. Conveyancing lawyers assured me that they report fully on Monday. Are there areas in the report that I should be focusing on?

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

  • The unexpired lease term You should be advised as what happens when the lease expires, and informed of the importance of the 80 year mark
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • Whether the lease restricts you from letting out the property, or working from home
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • Whether your lease has a provision for a reserve fund?
  • Repair and maintenance of the flat
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be included in your report on your leasehold property in Bromley please ask your lawyer in advance of your conveyancing in Bromley

  • I am tempted by the attractive purchase price for a two maisonettes in Bromley both have about forty five years unexpired on the lease term. Should I regard a short lease as a deal breaker?

    There are plenty of short leases in Bromley. The lease is a right to use the premises for a prescribed time frame. As a lease gets shorter the marketability of the lease decreases and results in it becoming more expensive to extend the lease. This is why it is generally wise to extend the lease term. Sometimes it is difficult to sell a property with a short lease because mortgage lenders may be reluctant to lend money on such properties. Lease enfranchisement can be a protracted process. We advise that you get professional help from a solicitor and surveyor with experience in this field

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

    • Much of the delay in leasehold conveyancing in Bromley can be avoided if you get in touch lawyers as soon as you market your property and request that they start to collate the leasehold documentation needed by the buyers solicitors.
    • If you have carried out any alterations to the residence would they have required Landlord’s permission? In particular have you laid down wooden flooring? Most leases in Bromley state that internal structural alterations or laying down wooden flooring calls for a licence from the Landlord approving such works. Should you fail to have the paperwork in place do not communicate with the landlord without contacting your conveyancer before hand.
  • Some Bromley leases require Licence to Assign from the landlord. If this applies to your lease, you should notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. The 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 service charge figures so that they can pass this information on to the purchasers or their solicitors.
  • If you have the benefit of shareholding in the Management Company, you should make sure that you hold the original share document. Obtaining a duplicate share certificate is often a time consuming process and slows down many a Bromley home move. Where a reissued share is necessary, do contact the company director and secretary or managing agents (where applicable) for this sooner rather than later.
  • You believe that you know the number of years left on your lease but you should verify this via your conveyancers. A buyer’s lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is under 75 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

  • I inherited a basement flat in Bromley. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the sum payable for a lease extension?

    if there is a absentee freeholder or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to judgment on the price.

    An example of a Freehold Enfranchisement decision for a Bromley premises 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.