Fixed-fee leasehold conveyancing in Brunswick Park:

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Frequently asked questions relating to Brunswick Park leasehold conveyancing

I own a leasehold house in Brunswick Park. Conveyancing and Barclays mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1998. The conveyancing practitioner in Brunswick Park who acted for me is not around.What should I do?

First contact the Land Registry to make sure that this person is indeed the new freeholder. There is no need to instruct a Brunswick Park conveyancing lawyer to do this as it can be done on-line for a few pound. Rest assured 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 attracted to a two maisonettes in Brunswick Park which have in the region of forty five years remaining on the leases. Will this present a problem?

There are no two ways about it. A leasehold flat in Brunswick Park is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it reduces the value of the premises. For most purchasers and mortgage companies, leases with under eighty years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Brunswick Park conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

I've recently bought a leasehold flat in Brunswick Park. Am I liable to pay service charges relating to a period prior to my ownership?

In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

What are your top tips when it comes to appointing a Brunswick Park conveyancing practice to carry out our lease extension conveyancing?

When appointing a conveyancer 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 conveyancing. We suggested that you talk with two or three firms including non Brunswick Park conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:

  • If the firm is not ALEP accredited then what is the reason?
  • What volume of lease extensions has the firm completed in Brunswick Park in the last year?

    • Can you provide any top tips for leasehold conveyancing in Brunswick Park with the aim of speeding up the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Brunswick Park can be bypassed if you get in touch lawyers as soon as you market your property and request that they start to put together the leasehold documentation which will be required by the buyers representatives.
    • If you have carried out any alterations to the property would they have required Landlord’s permission? Have you, for example installed wooden flooring? Brunswick Park leases often stipulate that internal structural alterations or installing wooden flooring require a licence issued by the Landlord consenting to such works. Where you dont have the paperwork in place do not contact the landlord without checking with your solicitor first.
  • Some Brunswick Park leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
  • If you have had conflict with your landlord or managing agents it is very important that these are resolved prior to the flat being put on the market. The purchasers and their solicitors will be warry about purchasing a property where there is a current dispute. You will have to accept that you will have to discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is better to present the dispute as historic as opposed to unresolved.
  • If you have the benefit of shareholding in the Management Company, you should make sure that you have the original share document. Organising a duplicate share certificate can be a lengthy process and delays many a Brunswick Park home move. Where a reissued share is necessary, you should approach the company officers or managing agents (where applicable) for this as soon as possible.

    • I am the proprietor of a garden flat in Brunswick Park. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the amount due for the purchase of the freehold?

    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 decision for a Brunswick Park property is 23 Beaconsfield Road in July 2013. The Tribunals decided that the amount payable was £31,203 for the freehold. This case affected 2 flats. The remaining number of years on the lease was 70.31 years.