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 would like to find out the number of years remaining on the lease.
If the lease is recorded at the land registry - and most 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.
I only have Fifty years unexpired on my flat in Bromley. I am keen to extend my lease but my landlord is can not be found. What should I do?
If 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 lengthened by the Court. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to track down the freeholder. On the whole a specialist should be helpful to conduct investigations and to produce a report to be accepted by the court as proof that the freeholder is indeed missing. It is wise to seek advice from a property lawyer in relation to proving the landlord’s disappearance and the vesting order request to the County Court covering Bromley.
Looking forward to complete next month on a leasehold property in Bromley. Conveyancing solicitors have said that they report fully next week. What should I be looking out for?
Your report on title for your leasehold conveyancing in Bromley should include some of the following:
- Defining your rights in respect of common areas in the block.For example, does the lease include a right of way over a path or hallways?
What advice can you give us when it comes to choosing a Bromley conveyancing firm to deal with our lease extension?
When appointing a solicitor for your lease extension (regardless if they are a Bromley conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We suggested that you talk with several firms including non Bromley conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be useful:
- How experienced is the practice with lease extension legislation?
Despite our best efforts, we have been unsuccessful in trying to purchase the freehold in Bromley. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most certainly. We can put you in touch with a Bromley conveyancing firm who can help.
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.
When it comes to leasehold conveyancing in Bromley what are the most frequent lease problems?
Leasehold conveyancing in Bromley is not unique. Most leases are unique and legal mistakes in the legal wording can sometimes mean that certain clauses are erroneous. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain parts of the premises
- A duty to insure the building
- A provision for the recovery of money spent for the benefit of another party.
- Maintenance charge proportions which don’t add up to the correct percentage
A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Santander, Bank of Scotland, 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 defective they may refuse to grant the mortgage, forcing the buyer to pull out.