I am hoping to sign contracts shortly on a garden flat in Bromley. Conveyancing solicitors inform me that they will have a report out to me 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:

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
• The total extent of the property. This will be the flat itself but could also include a roof space or basement if appropriate.
• Do you need to have carpet in the flat or are you allowed wood flooring?
• Repair and maintenance of the flat
• 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
• What the implications are if you breach a clause of your lease?

I am hoping to put an offer on a small detached house that appears to be perfect, at a reasonable price which is making it all the more appealing. I have just discovered that the title is leasehold rather than freehold. I am assuming that there are issues buying a house with a leasehold title in Bromley. Conveyancing solicitors have are soon to be instructed. Will they explain the issues?

The majority of houses in Bromley are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. It is clear that you are purchasing in Bromley so you should seriously consider looking for a Bromley conveyancing solicitor and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example obtaining the landlord’spermission to carry out changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the communal areas where the property is part of an estate. Your lawyer will report to you on the legal implications.

I am employed by a reputable estate agent office in Bromley where we have experienced a number of leasehold sales derailed as a result of short leases. I have received inconsistent advice from local Bromley conveyancing firms. Can you shed some light as to whether the owner of a flat can start the lease extension formalities for the buyer?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.

An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

Can you provide any top tips for leasehold conveyancing in Bromley from the point of view of speeding up the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Bromley can be avoided if you instruct lawyers as soon as your agents start marketing the property and request that they start to collate the leasehold information which will be required by the purchasers’ conveyancers.
• Many landlords or Management Companies in Bromley charge for supplying management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most common cause of delay in leasehold conveyancing in Bromley.
• In the event that you altered the property did you need the Landlord’s permission? In particular have you installed wooden flooring? Bromley leases often stipulate that internal structural alterations or addition of wooden flooring calls for a licence issued by the Landlord acquiescing to such changes. Where you dont have the paperwork to hand do not communicate with the landlord without checking with your solicitor first.
• 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 put in hand bank and professional references. The bank reference should make it clear that the buyer is financially capable of paying the yearly 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 buyers or their lawyers.
• If you hold a share in a the Management Company, you should make sure that you are holding the original share certificate. Arranging a new share certificate can be a lengthy process and frustrates many a Bromley conveyancing transaction. If a duplicate share certificate is required, do contact the company director and secretary or managing agents (where relevant) for this as soon as possible.

After months of correspondence we are unable to agree with our landlord on how much the lease extension should cost for our flat in Bromley. Can we issue an application to the Residential Property Tribunal Service?

Where there is a missing freeholder or if there is dispute about what the lease extension should cost, under the relevant legislation it is possible to make an application to the Leasehold Valuation Tribunal to make a decision on the price payable.

An example of a Freehold Enfranchisement case 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 makes a Bromley lease unmortgageable?

Leasehold conveyancing in Bromley is not unique. Most leases is drafted differently and legal mistakes in the legal wording can result in certain sections are wrong. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain parts of the building
• A duty to insure the building
• 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 will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, Bank of Scotland, and Platform Home Loans Ltd all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, forcing the buyer to pull out.

I purchased a split level flat in Bromley, conveyancing formalities finalised in 2000. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Bromley with over 90 years remaining are worth £208,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease ends on 21st October 2103

With just 77 years unexpired we estimate the price of your lease extension to be between £9,500 and £11,000 plus professional fees.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of detailed investigations. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.