Examples of recent questions relating to leasehold conveyancing in Bromley
I wish to sublet my leasehold flat in Bromley. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?
Even though your last Bromley conveyancing lawyer is no longer around you can check your lease to see if you are permitted to let out the premises. The accepted inference is that if the lease is non-specific, subletting is allowed. There may be a precondition that you must seek permission via your landlord or some other party in advance of subletting. This means that you cannot sublet in the absence of prior consent. Such consent should not be unreasonably turned down. If the lease does not allow you to sublet you should ask your landlord for their consent.
I have recently realised that I have 72 years left on my lease in Bromley. I now wish to get lease extension but my freeholder is absent. What are my options?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. You will be obliged to prove that you have used your best endeavours to track down the landlord. In some cases an enquiry agent would be helpful to conduct investigations and prepare an expert document which can be used as evidence that the landlord is indeed missing. It is advisable to get professional help from a solicitor in relation to devolving into the landlord’s disappearance and the application to the County Court overseeing Bromley.
I have just started marketing my ground floor apartment in Bromley.Conveyancing has not commenced but I have just had a half-yearly maintenance charge demand – what should I do?
Your conveyancing lawyer is likely to suggest that you should discharge the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I am tempted by the attractive purchase price for a two apartments in Bromley both have in the region of 50 years left on the lease term. Should I regard a short lease as a deal breaker?
There is no doubt about it. A leasehold flat in Bromley is a deteriorating asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it adversely affects the marketability of the premises. The majority of purchasers and mortgage companies, leases with less than 75 years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Bromley conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Can you provide any top tips for leasehold conveyancing in Bromley from the point of view of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Bromley can be reduced where you instruct lawyers as soon as your agents start marketing the property and ask them to collate the leasehold information which will be required by the purchasers’ lawyers.
- 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 changes or installing wooden flooring require a licence from the Landlord consenting to such changes. If you dont have the consents to hand do not contact the landlord without contacting your solicitor in the first instance.
Having spent years of negotiations 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?
Where there is a absentee landlord or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to calculate the premium.
An example of a Freehold Enfranchisement case 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.