Questions and Answers: Brondesbury leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Brondesbury. Before I get started I want to be sure as to the unexpired term of the lease.
Assuming the lease is recorded at the land registry - and most 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 only have Fifty years unexpired on my lease in Brondesbury. I need to get lease extension but my freeholder is missing. What should I do?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the Court. You will be obliged to demonstrate that you have made all reasonable attempts to track down the landlord. In some cases an enquiry agent should be helpful to carry out a search and to produce an expert document to be used as proof that the landlord is indeed missing. It is wise to seek advice from a property lawyer both on devolving into the landlord’s absence and the vesting order request to the County Court overseeing Brondesbury.
I am looking at a couple of apartments in Brondesbury both have in the region of forty five years left on the leases. Should I regard a short lease as a deal breaker?
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 shortens the value of the lease decreases and results in it becoming more costly to extend the lease. For this reason it is often a good idea to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We recommend you seek professional help from a solicitor and surveyor with experience in this area
Can you offer any advice when it comes to appointing a Brondesbury conveyancing firm to deal with our lease extension?
When appointing a solicitor for your lease extension (regardless if they are a Brondesbury conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with two or three firms including non Brondesbury conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be of use:
- How experienced is the practice with lease extension legislation?
Can you provide any top tips for leasehold conveyancing in Brondesbury with the aim of speeding up the sale process?
- A significant proportion of the delay in leasehold conveyancing in Brondesbury can be reduced if you appoint lawyers the minute you market your property and request that they start to put together the leasehold documentation needed by the purchasers’ lawyers.
- Many landlords or Management Companies in Brondesbury charge for supplying management packs for a leasehold homes. You or your lawyers should enquire as to the fee that they propose to charge. The management information sought on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Brondesbury.
Following months of negotiations we cannot agree with our landlord on how much the lease extension should cost for our flat in Brondesbury. Can we issue an application to the Residential Property Tribunal Service?
if there is a absentee landlord or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to assess the premium.
An example of a Lease Extension matter before the tribunal for a Brondesbury residence 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 remaining number of years on the lease was 49.26 years.