You should [be sent a copy of the lease|receive a copy of the lease]

Expecting to complete next month on a leasehold property in Brompton. Conveyancing lawyers have said 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 Brompton should include some of the following:

• The total extent of the demise. This will be the property itself but may include a roof space or basement if applicable.
• Does the lease prohibit wood flooring?
• You must be told what constitutes a Nuisance in the lease
• An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
• You should have a good understanding of the insurance provisions
• Changes to the flat (alterations and additions)
• Responsibility for repairing the window frames

For a comprehensive list of information to be included in your report on your leasehold property in Brompton please enquire of your conveyancer in advance of your conveyancing in Brompton

I've found a house that appears to meet my requirements, at a great price which is making it more attractive. I have since found out that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Brompton. Conveyancing solicitors have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in Brompton ?

The majority of houses in Brompton are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Brompton in which case you should be shopping around for a Brompton conveyancing solicitor and be sure that they are used to dealing with 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 will likely included provisions for example obtaining the freeholder’spermission to conduct alterations. You may also be required to pay a contribution towards the upkeep of the estate where the house is located on an estate. Your conveyancer should appraise you on the various issues.

I've recently bought a leasehold flat in Brompton. Am I liable to pay service charges for periods before my ownership?

In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Do you have any top tips for leasehold conveyancing in Brompton with the intention of saving time on the sale process?

• Much of the frustration in leasehold conveyancing in Brompton can be reduced where you appoint lawyers the minute you market your property and ask them to collate the leasehold information needed by the purchasers’ solicitors.
• Many landlords or Management Companies in Brompton charge for providing management packs for a leasehold premises. You or your lawyers should enquire as to the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Brompton.
• In the event that you altered the property did you need the Landlord’s consent? In particular have you installed wooden flooring? Most leases in Brompton state that internal structural alterations or laying down wooden flooring require a licence from the Landlord approving such changes. If you dont have the approvals in place do not communicate with the landlord without checking with your lawyer in the first instance.
• A minority of Brompton leases require Licence to Assign from the landlord. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. The bank reference will need to confirm that the buyers are able to meet 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 solicitors.
• If you hold a share in a the Management Company, you should make sure that you have the original share certificate. Arranging a replacement share certificate is often a lengthy formality and delays many a Brompton conveyancing transaction. Where a new share is required, do contact the company director and secretary or managing agents (where relevant) for this at the earliest opportunity.

We expect to complete the sale of our £ 175000 flat in Brompton next week. The management company has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Brompton?

For the majority of leasehold sales in Brompton conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Completing pre-contract questions
• Where consent is required before sale in Brompton
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Brompton leasehold property is £350. For Brompton conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to provide the information.

I have had difficulty in trying to purchase the freehold in Brompton. Can this matter be resolved via the Leasehold Valuation Tribunal?

in cases where there is a missing landlord or if there is dispute about the premium for a lease extension, under the relevant legislation it is possible to make an application to the LVT to calculate the premium.

An example of a Lease Extension decision for a Brompton property 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 affected 1 flat. The the number of years remaining on the existing lease(s) was 13.33 years.

Leasehold Conveyancing in Brompton - Sample of Questions you should consider Prior to Purchasing

Is anyone aware of any major works in the near future that could add a premium to the maintenance costs? You should be aware if it is fewer than eighty years it will impact the value of the property. Check with your lender that they are content with remaining years on the lease. Leases with fewer than 80 years remaining means that you will probably need a lease extension at some point and it is worth discovering how much this would cost. For most Bromptonlease extensions you will need to own the property for two years before you are entitled to exercise a lease extension.