Questions and Answers: Brunswick Park leasehold conveyancing
I only have 72 years left on my flat in Brunswick Park. I now want to get lease extension but my freeholder is missing. What should I do?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission 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 prove that you or your lawyers have done all that could be expected to find the landlord. In some cases an enquiry agent should be useful to carry out a search and to produce a report to be used as evidence that the landlord is indeed missing. It is advisable to get professional help from a conveyancer both on investigating the landlord’s disappearance and the vesting order request to the County Court overseeing Brunswick Park.
I am tempted by the attractive purchase price for a two apartments in Brunswick Park which have in the region of forty five years left on the leases. Will this present a problem?
There are plenty of short leases in Brunswick Park. The lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease gets shorter the saleability of the lease deteriorate and results in it becoming more costly to extend the lease. This is why 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 may be unwilling to lend money on such properties. Lease extension can be a difficult process. We recommend you get professional help from a solicitor and surveyor with experience in this arena
What advice can you give us when it comes to choosing a Brunswick Park conveyancing firm to deal with our lease extension?
When appointing a solicitor for lease extension works (regardless if they are a Brunswick Park conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you speak with two or three 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 might be useful:
- What volume of lease extensions have they completed in Brunswick Park in the last 12 months?
Do you have any top tips for leasehold conveyancing in Brunswick Park from the point of view of saving time on the sale process?
- A significant proportion of the delay in leasehold conveyancing in Brunswick Park can be avoided where you instruct lawyers the minute your agents start marketing the property and request that they start to collate the leasehold information which will be required by the purchasers’ lawyers.
- Many freeholders or Management Companies in Brunswick Park levy fees for supplying management packs for a leasehold premises. You or your lawyers should enquire as to the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Brunswick Park.
Completion in due on our sale of a £225000 maisonette in Brunswick Park in 10 days. The landlords agents has quoted £372 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Brunswick Park?
Brunswick Park conveyancing on leasehold apartments often involves the purchaser’s conveyancer submitting enquiries for the landlord to address. Although the landlord is under no legal obligation to answer these enquiries most will be content to assist. They may levy a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is over three hundred pounds, in some cases it is above £800. The administration charge demanded by the landlord must be accompanied by a synopsis of entitlements and obligations in relation to administration fees, without which the charge is not strictly payable. In reality one has no choice but to pay whatever is requested of you if you want to sell the property.
After years of correspondence we simply can't 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 are happy to 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 related to 2 flats. The the unexpired term as at the valuation date was 70.31 years.