Fixed-fee leasehold conveyancing in Belsize Park:

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Belsize Park leasehold conveyancing Example Support Desk Enquiries

I am in need of some leasehold conveyancing in Belsize Park. Before diving in I require certainty as to the unexpired term of the lease.

If the lease is registered - and 99.9% are in Belsize Park - then the leasehold title will always include the short particulars 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.

Expecting to sign contracts shortly on a studio apartment in Belsize Park. Conveyancing solicitors assured me that they report fully within the next couple of days. 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:

  • The physical extent of the demise. This will be the apartment itself but could also incorporate a loft or cellar if appropriate.
  • Defining your legal entitlements in respect of the communal areas in the block.For instance, does the lease include a right of way over a path or hallways?
  • Whether the lease restricts you from letting out the flat, or working from home
  • You must be told what constitutes a Nuisance in the lease
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • What the implications are if you breach a clause of your lease? For details of the information to be included in your report on your leasehold property in Belsize Park please ask your lawyer in advance of your conveyancing in Belsize Park

  • What are your top tips when it comes to finding a Belsize Park conveyancing firm to carry out our lease extension conveyancing?

    If you are instructing a solicitor for your lease extension (regardless if they are a Belsize Park conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with several firms including non Belsize 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 useful:

    • If they are not ALEP accredited then what is the reason?
  • How many lease extensions have they completed in Belsize Park in the last 12 months?

  • Can you provide any top tips for leasehold conveyancing in Belsize Park with the intention of saving time on the sale process?

    • Much of the delay in leasehold conveyancing in Belsize Park can be bypassed if you appoint lawyers as soon as your agents start marketing the property and ask them to put together the leasehold documentation needed by the purchasers’ representatives.
    • Many landlords or Management Companies in Belsize Park charge for providing management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management pack sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Belsize Park.
  • If you have carried out any alterations to the residence would they have required Landlord’s approval? Have you, for example installed wooden flooring? Most leases in Belsize Park state that internal structural changes or laying down wooden flooring calls for a licence issued by the Landlord consenting to such changes. If you dont have the approvals in place do not communicate with the landlord without checking with your lawyer in the first instance.
  • If there is a history of conflict with your freeholder or managing agents it is very important that these are settled prior to the flat being put on the market. The buyers and their solicitors will be warry about purchasing a property where a dispute is unresolved. You may need to swallow your pride 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 buyers, but it is clearly preferable to present the dispute as over as opposed to unsettled.
  • You believe that you know the number of years left on your lease but you should double-check by asking your conveyancers. A purchaser's conveyancer will not be happy to advise their client to to exchange contracts if the remaining number of years is less than 75 years. In the circumstances it is important at an as soon as possible 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.

  • I own a a ground floor purpose built flat in Belsize Park. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the premium due for a lease extension?

    Where there is a absentee landlord or where there is dispute about what the lease extension should cost, under the relevant legislation it is possible to make an application to the LVT to judgment on the amount due.

    An example of a Lease Extension case for a Belsize Park residence is Raised Ground 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 the unexpired residue of the current lease was 16.83 and 16.43.

    When it comes to leasehold conveyancing in Belsize Park what are the most frequent lease defects?

    There is nothing unique about leasehold conveyancing in Belsize Park. Most leases are unique and drafting errors can sometimes mean that certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain parts of the property
    • Insurance obligations
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Maintenance charge proportions which don’t add up to the correct percentage

    You may have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, The Mortgage Works, and Bank of Ireland all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, forcing the purchaser to withdraw.

    Other Topics

    Lease Extensions in Belsize Park