Recently asked questions relating to Brunswick Park leasehold conveyancing
Expecting to sign contracts shortly on a leasehold property in Brunswick Park. Conveyancing solicitors assured me that they are sending me a report tomorrow. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Brunswick Park should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
I am hoping to put an offer on a small detached house that seems to meet my requirements, at a great figure which is making it more attractive. I have since been informed that it's a leasehold rather than freehold. I would have thought that there are issues buying a house with a leasehold title in Brunswick Park. Conveyancing advisers have are soon to be instructed. Will my lawyers set out the risks of buying a leasehold house in Brunswick Park ?
The majority of houses in Brunswick Park are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Brunswick Park so you should seriously consider looking for a Brunswick Park conveyancing practitioner and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. As a lessee you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as obtaining the landlord’spermission to conduct changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the property is located on an estate. Your conveyancer should report to you on the legal implications.
I work for a long established estate agency in Brunswick Park where we have experienced a number of flat sales put at risk due to leases having less than 80 years remaining. I have received inconsistent advice from local Brunswick Park conveyancing firms. Please can you clarify whether the seller of a flat can initiate the lease extension process for the purchaser on completion of the sale?
Provided that 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 buyer can avoid having to sit tight for 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 disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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.
All being well we will complete our sale of a £375000 garden flat in Brunswick Park on Thursday in a week. The freeholder has quoted £300 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Brunswick Park?
Brunswick Park conveyancing on leasehold apartments often involves the purchaser’s lawyer submitting enquiries for the landlord to answer. Although the landlord is not legally bound to answer these enquiries the majority will be willing to do so. They are entitled invoice a reasonable charge for responding to enquiries 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 cases it is in excess of £800. The administration charge required by the landlord must be accompanied by a summary of rights and obligations in respect of administration fees, without which the charge is technically not due. Reality however dictates that one has little choice but to pay whatever is requested of you if you want to complete the sale of your home.
Following years of dialogue we cannot agree with our landlord on how much the lease extension should cost for our flat in Brunswick Park. Can we issue an application to the Residential Property Tribunal Service?
Most certainly. We can put you in touch with a Brunswick Park conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Brunswick Park premises is 23 Beaconsfield Road in July 2013. The Tribunals decided that the amount payable was £31,203 for the freehold. This case was in relation to 2 flats. The the number of years remaining on the existing lease(s) was 70.31 years.
Are there frequently found problems that you see in leases for Brunswick Park properties?
Leasehold conveyancing in Brunswick Park is not unique. All leases is drafted differently and legal mistakes in the legal wording can result in certain provisions are missing. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain elements of the property
- Insurance obligations
- A provision for the recovery of money spent for the benefit of another party.
- Maintenance charge proportions which don’t add up to the correct percentage
You could encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Yorkshire Building Society, Norwich and Peterborough Building Society, and Godiva Mortgages Ltd all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, obliging the buyer to withdraw.