I am hoping to exchange soon on a studio apartment in Belsize Park. Conveyancing lawyers have said that they are sending me a report tomorrow. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Belsize Park should include some of the following:

• You should receive a copy of the lease

The unexpired lease term You should be advised as what happens when the lease ends, and aware of the importance of not letting the lease term falling below eighty years

Does the lease prohibit wood flooring?

You should be told what constitutes a Nuisance in the lease

The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.

Responsibility for repairing the window frames

What the implications are if you breach a clause of your lease? For a comprehensive list of information to be included in your report on your leasehold property in Belsize Park please enquire of your lawyer in ahead of your conveyancing in Belsize Park

I’m about to sell my ground floor flat in Belsize Park.Conveyancing is yet to be initiated but I have just received a yearly maintenance charge demand – what should I do?

The sensible thing to do is pay the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

I am tempted by the attractive purchase price for a couple of maisonettes in Belsize Park both have in the region of 50 years remaining on the leases. Will this present a problem?

There are plenty of short leases in Belsize Park. The lease is a right to use the premises for a period of time. As a lease gets shorter the saleability of the lease deteriorate and it becomes more costly to extend the lease. For this reason it is often a good idea to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We advise that you get professional assistance from a solicitor and surveyor with experience in this arena

Can you offer any advice when it comes to finding a Belsize Park conveyancing practice to deal with our lease extension?

When appointing a property lawyer for your lease extension (regardless if they are a Belsize Park conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with two or three firms including non Belsize Park conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:

• What volume of lease extensions have they conducted in Belsize Park in the last year?

What are the charges for lease extension work?

If all goes to plan we aim to complete the sale of our £125000 apartment in Belsize Park in just under a week. The freeholder has quoted £312 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Belsize Park?

For most leasehold sales in Belsize Park conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Completing conveyancing due diligence enquiries
• Where consent is required before sale in Belsize Park
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Belsize Park leasehold property is £350. For Belsize Park conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to supply answers.

I inherited a two-bedroom flat in Belsize Park. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the premium payable for a lease extension?

Most certainly. We are happy to put you in touch with a Belsize Park conveyancing firm who can help.

An example of a Lease Extension matter before the tribunal for a Belsize Park residence 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 related to 2 flats. The unexpired lease term was 16.83 and 16.43.

Other Topics

Lease Extensions in Belsize Park