Quality lawyers for Leasehold Conveyancing in Brunswick Park

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Examples of recent questions relating to leasehold conveyancing in Brunswick Park

I today plan to offer on a house that appears to be perfect, at a great price which is making it more attractive. I have since found out 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 lawyers have not yet been instructed. Will they explain the issues?

The majority of houses in Brunswick Park are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying 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 unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example requiring the landlord’sconsent to conduct alterations. It may be necessary to pay a contribution towards the maintenance of the estate where the property is part of an estate. Your lawyer should advise you fully on all the issues.

I am looking at a couple of flats in Brunswick Park both have in the region of fifty years unexpired on the lease term. Should I regard a short lease as a deal breaker?

A lease is a right to use the property for a period of time. As a lease shortens the value of the lease deteriorate and results in it becoming more costly to extend the lease. This is why it is advisable to extend the lease term. It is often difficult to sell a property with a short lease because mortgage lenders may be reluctant to lend money on properties of this type. Lease enfranchisement can be a difficult process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this arena

I am a negotiator for a long established estate agent office in Brunswick Park where we have experienced a few flat sales jeopardised as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Brunswick Park conveyancing firms. Can you clarify whether the seller of a flat can start the lease extension process for the buyer?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.

Alternatively, it may be possible to agree the lease extension with the freeholder 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 buyer.

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 appoint lawyers the minute your agents start advertising the property and ask them to collate the leasehold information which will be required by the buyers solicitors.
  • The majority landlords or Management Companies in Brunswick Park levy fees for providing management packs for a leasehold property. You or your lawyers should find out the fee that they propose to charge. The management pack sought on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most common cause of delay in leasehold conveyancing in Brunswick Park.
  • In the event that you altered the property did you need the Landlord’s approval? In particular have you installed wooden flooring? Brunswick Park leases often stipulate that internal structural alterations or laying down wooden flooring necessitate a licence issued by the Landlord approving such alterations. Where you fail to have the paperwork in place you should not contact the landlord without checking with your lawyer in advance.
  • If there is a history of conflict with your freeholder or managing agents it is very important that these are resolved prior to the flat being marketed. The purchasers and their solicitors will be reluctant to purchase a flat where a dispute is unresolved. You may have to bite the bullet and discharge any arrears of service charge or settle 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 will still have to reveal particulars of the dispute to the purchasers, but it is clearly preferable to present the dispute as over rather than unresolved.
  • If you have the benefit of shareholding in the Management Company, you should ensure that you hold the original share certificate. Organising a duplicate share certificate can be a time consuming process and delays many a Brunswick Park home move. Where a new share certificate is needed, you should approach the company officers or managing agents (where applicable) for this sooner rather than later.

    • Completion in due on our sale of a £400000 garden flat in Brunswick Park in just under a week. The landlords agents has quoted £372 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge such fees for a flat conveyance in Brunswick Park?

    Brunswick Park conveyancing on leasehold apartments often involves the purchaser’s conveyancer sending enquiries for the landlord to address. Although the landlord is under no legal obligation to answer these enquiries the majority will be willing to do so. They are at liberty invoice a reasonable charge for responding to questions or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is over three hundred pounds, in some transactions it exceeds £800. The administration charge levied by the landlord must be sent together with a summary of rights and obligations in relation to administration fees, without which the invoice is technically not due. Reality however dictates that you have little option but to pay whatever is requested of you should you wish to complete the sale of your home.

    I have attempted and failed to negotiate with my landlord to extend my lease without getting anywhere. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a Brunswick Park conveyancing firm to assist?

    Where there is a absentee landlord or where there is dispute about the premium for a lease extension, under the relevant statutes you can apply to the LVT to arrive at the amount due.

    An example of a Freehold Enfranchisement matter before the tribunal 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 was in relation to 2 flats. The the unexpired residue of the current lease was 70.31 years.