Frequently asked questions relating to Brunswick Park leasehold conveyancing
I am intending to let out my leasehold flat in Brunswick Park. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
A lease dictates relations between the freeholder and you the leaseholder; specifically, it will say if subletting is not allowed, or permitted but only subject to certain caveats. The rule is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in Brunswick Park do not prevent subletting altogether – such a provision would undoubtedly devalue the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.
I today plan to offer on a house that seems to meet my requirements, at a great figure which is making it more attractive. I have since discovered that it's a leasehold rather than freehold. I am assuming that there are issues purchasing a leasehold house in Brunswick Park. Conveyancing lawyers have are soon to be instructed. Will they explain the issues?
Most houses in Brunswick Park are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in Brunswick Park so you should seriously consider shopping around for a Brunswick Park conveyancing practitioner and check that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as obtaining the freeholder’spermission to carry out changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the property is part of an estate. Your conveyancer should report to you on the legal implications.
I own a leasehold flat in Brunswick Park. Conveyancing and Chelsea Building Society mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1996. The conveyancing solicitor in Brunswick Park who previously acted has now retired.What should I do?
First make enquiries of HMLR to be sure that the individual claiming to own the freehold is indeed the new freeholder. It is not necessary to incur the fees of a Brunswick Park conveyancing practitioner to do this as you can do this on the Land Registry website for £3. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am looking at a two flats in Brunswick Park both have in the region of fifty years left on the lease term. Will this present a problem?
A lease is a right to use the property for a prescribed time frame. As a lease shortens the saleability of the lease decreases and results in it becoming more costly to extend the lease. For this reason it is generally wise to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this field
Can you offer any advice when it comes to choosing a Brunswick Park conveyancing firm to carry out our lease extension conveyancing?
When appointing a solicitor for lease extension works (regardless if they are a Brunswick Park conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We suggested that you speak with several firms including non Brunswick Park conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:
- How familiar is the firm with lease extension legislation?
We have reached the end of our tether in trying to reach an agreement for a lease extension in Brunswick Park. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Where there is a absentee landlord or where there is disagreement about the premium for a lease extension, under the relevant statutes it is possible to make an application to the LVT to calculate the price.
An example of a Freehold Enfranchisement matter before the tribunal for a Brunswick Park flat is 23 Beaconsfield Road in July 2013. The Tribunals decided that the amount payable was £31,203 for the freehold. This case related to 2 flats. The the number of years remaining on the existing lease(s) was 70.31 years.