I am in need of some leasehold conveyancing in Belsize Park. Before I set the wheels in motion I would like to find out the remaining lease term.

If the lease is recorded at the land registry - and 99.9% are in Belsize 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.

There are only 72 years unexpired on my lease in Belsize Park. I need to get lease extension but my landlord is can not be found. What are my options?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. You will be obliged to demonstrate that you or your lawyers have made all reasonable attempts to locate the freeholder. In some cases a specialist would be useful to conduct investigations and prepare a report to be accepted by the court as evidence that the freeholder is indeed missing. It is wise to seek advice from a property lawyer in relation to devolving into the landlord’s absence and the application to the County Court overseeing Belsize Park.

I today plan to offer on a house that seems to meet my requirements, at a reasonable figure which is making it all the more appealing. I have just found out that the title is leasehold as opposed to freehold. I would have thought that there are issues buying a leasehold house in Belsize Park. Conveyancing advisers have not yet been instructed. Will they explain the issues?

The majority of houses in Belsize Park are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Belsize Park in which case you should be shopping around for a Belsize Park conveyancing solicitor and check that they are used to advising on leasehold houses. First you will need to check the number of years remaining. Being a tenant you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’spermission to carry out alterations. You may also be required to pay a service charge towards the upkeep of the estate where the property is part of an estate. Your lawyer should report to you on the legal implications.

I am a negotiator for a reputable estate agent office in Belsize Park where we have experienced a number of leasehold sales derailed due to leases having less than 80 years remaining. I have been given conflicting advice from local Belsize Park conveyancing solicitors. Please can you shed some light as to whether the vendor of a flat can start the lease extension formalities for the buyer?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start 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 for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.

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 purchaser.

Do you have any top tips for leasehold conveyancing in Belsize Park from the point of view of speeding up the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Belsize Park can be bypassed if you instruct lawyers as soon as your agents start marketing the property and ask them to put together the leasehold information which will be required by the purchasers’ solicitors.
• Many freeholders or Management Companies in Belsize Park levy fees for supplying management packs for a leasehold homes. 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 average time it takes to obtain the necessary information is three weeks. It is the most common reason for delay in leasehold conveyancing in Belsize Park.
• If you have carried out any alterations to the premises would they have required Landlord’s consent? In particular have you laid down wooden flooring? Belsize Park leases often stipulate that internal structural alterations or laying down wooden flooring calls for a licence from the Landlord approving such alterations. Should you dont have the consents in place you should not contact the landlord without contacting your conveyancer before hand.
• A minority of Belsize Park leases require Licence to Assign from the landlord. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. The bank reference should make it clear that the buyer is able to meet 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 service charge figures so that they can pass this information on to the buyers or their solicitors.
• You believe that you know the number of years remaining on your lease but it would be wise to verify this by asking your conveyancers. A buyer’s lawyer will not be happy to advise their client to where the remaining number of years is below 80 years. It is therefore essential at an early stage that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

After years of negotiations we are unable to agree with our landlord on how much the lease extension should cost for our flat in Belsize Park. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

in cases where there is a absentee landlord or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to judgment on the premium.

An example of a Lease Extension matter before the tribunal for a Belsize Park premises is First Floor Flat 20 Fitzjohns Avenue in July 2014. the Tribunal decided that the premiums to be paid for new leases in respect of the Raised Ground Floor Flat and the First Floor Flat were to be calculated as: Raised Ground Floor: £765,175.14 First Floor: £601,617.77 This case was in relation to 2 flats. The the number of years remaining on the existing lease(s) was 16.83 and 16.43.

Belsize Park Conveyancing for Leasehold Flats - A selection of Queries Prior to Purchasing

For many Belsize Park leaseholds the cost for major works are not included within service charges, albeit that there some managing agents in Belsize Park obliged leaseholders to pay into a sinking fund created for the specific intention of building a fund for major works.