Common questions relating to Brompton leasehold conveyancing
I am in need of some leasehold conveyancing in Brompton. Before I get started I would like to find out the remaining lease term.
Assuming the lease is recorded at the land registry - and 99.9% are in Brompton - then the leasehold title will always include the short particulars 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.
My partner and I may need to rent out our Brompton ground floor flat for a while due to a new job. We used a Brompton conveyancing firm in 2002 but they have since shut and we did not have the foresight to get any guidance as to whether the lease permits subletting. How do we find out?
Notwithstanding that your previous Brompton conveyancing solicitor is not around you can check your lease to see if it allows you to sublet the property. The rule is that if the lease is silent, subletting is permitted. Quite often there is a prerequisite that you must seek permission via your landlord or other appropriate person prior to subletting. The net result is that you cannot sublet without first obtaining consent. The consent is not allowed to be unreasonably withheld. If the lease does not allow you to sublet you will need to ask your landlord for their consent.
I have just appointed agents to market my garden flat in Brompton.Conveyancing solicitors are to be appointed soon but I have just received a quarterly service charge invoice – Do I pay up?
It best that you clear 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've found a house that seems to tick a lot of boxes, at a reasonable price which is making it more attractive. I have since found out that it's a leasehold as opposed to freehold. I would have thought that there are issues buying a house with a leasehold title in Brompton. Conveyancing solicitors have not yet been appointed. Will they explain the issues?
Most 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. We note that you are buying in Brompton in which case you should be looking for a Brompton conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as obtaining the freeholder’spermission to conduct changes to the property. You may also be required to pay a service charge towards the upkeep of the communal areas where the property is located on an estate. Your lawyer should appraise you on the various issues.
I am looking at a couple of flats in Brompton both have approximately 50 years unexpired on the leases. Do I need to be concerned?
There are plenty of short leases in Brompton. The lease is a legal document that entitles you to use the property for a period of time. As a lease gets shorter the saleability of the lease deteriorate and results in it becoming more costly to extend the lease. This is why it is often a good idea to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease because mortgage companies may be unwilling to lend money on such properties. Lease extension can be a difficult process. We advise that you get professional help from a conveyancer and surveyor with experience in this area
Having spent months of correspondence we cannot agree with our landlord on how much the lease extension should cost for our flat in Brompton. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
if there is a missing freeholder or where there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to decide the premium.
An example of a Lease Extension decision for a Brompton flat 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 unexpired lease term was 13.33 years.