Leasehold Conveyancing in Brompton - Get a Quote from the leasehold experts approved by your lender

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While any conveyancing solicitor can theoretically handle your leasehold conveyancing in Brompton, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Questions and Answers: Brompton leasehold conveyancing

My wife and I may need to rent out our Brompton ground floor flat temporarily due to taking a sabbatical. We used a Brompton conveyancing practice in 2004 but they have since shut and we did not think at the time get any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?

Even though your previous Brompton conveyancing solicitor 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 deeds are silent, subletting is allowed. There may be a precondition that you must obtain consent via your landlord or some other party prior to subletting. This means that you cannot sublet in the absence of prior permission. Such consent must not not be unreasonably refused ore delayed. If your lease prohibits you from subletting the property you will need to ask your landlord if they are willing to waive this restriction.

I've found a house that seems to be perfect, at a great price which is making it more attractive. I have just found out that the title is leasehold rather than freehold. I would have thought that there are issues buying a leasehold house in Brompton. Conveyancing solicitors have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Brompton ?

The majority of houses in Brompton are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. it is apparent that you are purchasing in Brompton so you should seriously consider shopping around for a Brompton conveyancing practitioner and check that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the freeholder’sconsent to conduct changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the estate where the property is located on an estate. Your solicitor will appraise you on the various issues.

I am attracted to a two maisonettes in Brompton both have approximately forty five years left on the lease term. Will this present a problem?

There are plenty of short leases in Brompton. The lease is a right to use the property for a period of time. As a lease gets shorter the saleability of the lease deteriorate and it becomes more expensive to acquire a lease extension. This is why it is advisable to extend the lease term. Sometimes it is difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this arena

Do you have any top tips for leasehold conveyancing in Brompton from the point of view of expediting the sale process?

  • Much of the delay in leasehold conveyancing in Brompton can be reduced if you get in touch lawyers the minute you market your property and ask them to put together the leasehold information which will be required by the buyers conveyancers.
  • Many landlords or managing agents in Brompton levy fees for providing management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management information sought on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Brompton.
  • Some Brompton leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. The bank reference will need to confirm that the buyers are 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 there is a history of any disputes with your landlord or managing agents it is very important that these are settled prior to the flat being marketed. The purchasers and their solicitors will be concerned about purchasing a flat where a dispute is ongoing. You will have to accept that you will have to discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is better to reveal the dispute as over as opposed to unresolved.
  • You may think that you are aware of the number of years left on your lease but it would be advisable double-check by asking your solicitors. A buyer’s conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is less than 80 years. It is therefore important at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • I have tried to negotiate informally with with my landlord for a lease extension without any joy. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a Brompton conveyancing firm to represent me?

    Where there is a missing landlord or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to make a decision on the price payable.

    An example of a Lease Extension matter before the tribunal for a Brompton premises is Flat 3 47 Cadogan Square in December 2010. the Tribunal determined that the premium payable to the landord by the leaseholder for the lease extension was £732,935 This case related to 1 flat. The the number of years remaining on the existing lease(s) was 13.33 years.

    What makes a Brompton lease problematic?

    There is nothing unique about leasehold conveyancing in Brompton. All leases are unique and legal mistakes in the legal wording can result in certain clauses 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
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Maintenance charge proportions which don’t add up to the correct percentage

    A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Santander, The Royal Bank of Scotland, and Bank of Ireland all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, forcing the purchaser to withdraw.