Common questions relating to Brunswick Park leasehold conveyancing
I am in need of some leasehold conveyancing in Brunswick Park. Before I get started I want to be sure as to the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and almost all are in Brunswick Park - then the leasehold title will always include the basic details 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.
Helen (my wife) and I may need to sub-let our Brunswick Park 1st floor flat temporarily due to a new job. We used a Brunswick Park conveyancing firm in 2001 but they have since shut and we did not have the foresight to get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
Even though your previous Brunswick Park conveyancing lawyer is no longer available you can review your lease to check if it allows you to sublet the property. The accepted inference is that if the lease is non-specific, subletting is permitted. There may be a precondition that you need to obtain consent via your landlord or some other party in advance of subletting. This means that you cannot sublet without first obtaining consent. The consent is not allowed to be unreasonably refused ore delayed. If the lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.
I am attracted to a two maisonettes in Brunswick Park both have approximately fifty years unexpired on the lease term. Do I need to be concerned?
A lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease shortens the saleability of the lease reduces and it becomes more costly to acquire a lease extension. This is why it is advisable to extend the lease term. It is often difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this arena
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 owner 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. A critical element of leasehold conveyancing for your conveyancer to be sure 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).
Can you provide any top tips for leasehold conveyancing in Brunswick Park from the perspective of speeding up the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Brunswick Park can be reduced where you get in touch lawyers the minute you market your property and ask them to collate the leasehold documentation which will be required by the buyers conveyancers.
- Many landlords or Management Companies in Brunswick Park charge for supplying management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Brunswick Park.
I own a second floor 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 a lease extension?
Where there is a missing landlord or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to make a decision on the price.
An example of a Freehold Enfranchisement decision for a Brunswick Park residence 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.