Frequently asked questions relating to Brondesbury leasehold conveyancing
I am in need of some leasehold conveyancing in Brondesbury. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.
Assuming the lease is registered - and almost all are in Brondesbury - 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.
I am hoping to complete next month on a leasehold property in Brondesbury. Conveyancing solicitors assured me that they report fully within the next couple of days. What should I be looking out for?
Your report on title for your leasehold conveyancing in Brondesbury should include some of the following:
- The physical extent of the property. This will be the apartment itself but may incorporate a roof space or basement if appropriate.
Back In 2007, I bought a leasehold house in Brondesbury. Conveyancing and Nottingham Building Society mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1996. The conveyancing practitioner in Brondesbury who acted for me is not around.Do I pay?
The first thing you should do is make enquiries of HMLR to be sure that the individual purporting to own the freehold is indeed the new freeholder. It is not necessary to instruct a Brondesbury conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am attracted to a couple of flats in Brondesbury which have approximately fifty years remaining on the leases. Do I need to be concerned?
There are plenty of short leases in Brondesbury. The lease is a right to use the property for a prescribed time frame. As the lease gets shorter the value of the lease reduces and it becomes more costly to acquire a lease extension. For this reason it is often a good idea to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease as mortgage lenders may be reluctant to lend money on properties of this type. Lease enfranchisement can be a difficult process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this field
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £450000 flat in Brondesbury on Monday in a week. The management company has quoted £408 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Brondesbury?
Brondesbury conveyancing on leasehold apartments nine out of ten times necessitates fees being levied by landlords agents :
- Completing pre-contract questions
- Where consent is required before sale in Brondesbury
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I am the proprietor of a second floor flat in Brondesbury. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the amount due for a lease extension?
if there is a absentee landlord or if 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 assess the price.
An example of a Lease Extension decision for a Brondesbury premises 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 affected 1 flat. The unexpired term was 49.26 years.
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