Sample questions relating to Brondesbury leasehold conveyancing
I am on look out for some leasehold conveyancing in Brondesbury. Before I set the wheels in motion I require certainty as to the number of years remaining on the lease.
If the lease is recorded at the land registry - and most are in Brondesbury - 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.
Frank (my husband) and I may need to rent out our Brondesbury 1st floor flat temporarily due to a career opportunity. We used a Brondesbury conveyancing firm in 2003 but they have since shut and we did not think at the time get any guidance as to whether the lease allows us to sublet. How do we find out?
Notwithstanding that your previous Brondesbury conveyancing solicitor is no longer available you can check your lease to see if it allows you to sublet the apartment. The accepted inference is that if the deeds are silent, subletting is permitted. There may be a precondition that you need to obtain permission via your landlord or some other party prior to subletting. The net result is that you cannot sublet in the absence of first obtaining consent. The consent must not not be unreasonably withheld. If your lease prohibits you from subletting the property you should ask your landlord if they are willing to waive this restriction.
I am looking at a couple of flats in Brondesbury which have in the region of fifty years left on the leases. should I be concerned?
There are plenty of short leases in Brondesbury. The lease is a right to use the property for a period of time. As the lease gets shorter the marketability of the lease deteriorate and it becomes more expensive to extend the lease. This is why it is often a good idea to extend the lease term. It is often 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 difficult process. We advise that you seek professional help from a conveyancer and surveyor with experience in this area
I work for a reputable estate agency in Brondesbury where we see a few leasehold sales put at risk due to short leases. I have been given inconsistent advice from local Brondesbury conveyancing firms. Please can you shed some light as to whether the owner of a flat can initiate the lease extension process for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
We expect to complete our sale of a £425000 garden flat in Brondesbury in nine days. The managing agents has quoted £360 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Brondesbury?
Brondesbury conveyancing on leasehold apartments more often than not requires the purchaser’s solicitor submitting enquiries for the landlord to address. Although the landlord is not legally bound to respond to such questions the majority will be willing to assist. They are at liberty invoice a reasonable charge for answering questions or supplying documentation. There is no set fee. The average costs for the information that you are referring to is over three hundred pounds, in some situations it exceeds £800. The administration charge levied by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration fees, without which the invoice is not strictly payable. In reality you have no option but to pay whatever is requested of you if you want to sell the property.
I own a first floor flat in Brondesbury. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the amount payable for a lease extension?
Absolutely. We are happy to put you in touch with a Brondesbury conveyancing firm who can help.
An example of a Lease Extension decision for a Brondesbury flat is 50a Cavendish Road in April 2014. The Tribunal determines that the premium payable by the Applicant in respect of the extension of the lease for the flat was £82,319. This case related to 1 flat. The the number of years remaining on the existing lease(s) was 49.26 years.