Fixed-fee leasehold conveyancing in Belsize Park:

While any conveyancing solicitor can theoretically handle your leasehold conveyancing in Belsize Park, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Frequently asked questions relating to Belsize Park leasehold conveyancing

Harry (my fiance) and I may need to let out our Belsize Park garden flat temporarily due to taking a sabbatical. We instructed a Belsize Park conveyancing practice in 2003 but they have closed and we did not have the foresight to seek any advice as to whether the lease prohibits the subletting of the flat. How do we find out?

Notwithstanding that your last Belsize Park conveyancing lawyer is not available you can review your lease to see if it allows you to sublet the property. The rule is that if the deeds are non-specific, subletting is permitted. There may be a precondition that you must seek permission from your landlord or some other party before subletting. This means that you cannot sublet without prior consent. Such consent should not be unreasonably withheld. If your lease does not allow you to sublet you will need to ask your landlord for their consent.

Planning to exchange soon on a studio apartment in Belsize Park. Conveyancing lawyers have said that they report fully next week. What should I be looking out for?

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

  • The unexpired lease term You should be advised as what happens when the lease expires, and informed of the importance of the 80 year mark
  • Defining your legal entitlements in respect of common areas in the building.For example, does the lease grant a right of way over a path or hallways?
  • You should have a good understanding of the insurance provisions
  • Changes to the flat (alterations and additions)
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • 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.
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building For details of the information to be included in your report on your leasehold property in Belsize Park please enquire of your lawyer in advance of your conveyancing in Belsize Park

  • I've recently bought a leasehold property in Belsize Park. Am I liable to pay service charges for periods before my ownership?

    Where the service charge has already been demanded from the previous lessee 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. It is an essential part of leasehold conveyancing for your conveyancer to ensure 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 offer any advice when it comes to choosing a Belsize Park conveyancing firm to carry out our lease extension conveyancing?

    When appointing a property lawyer for lease extension works (regardless if they are a Belsize Park conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with several firms including non Belsize Park conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:

    • How experienced is the firm with lease extension legislation?
  • Can they put you in touch with client in Belsize Park who can give a testimonial?

  • Do you have any advice for leasehold conveyancing in Belsize Park from the perspective of saving time on the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Belsize Park can be bypassed where you instruct lawyers the minute your agents start marketing the property and request that they start to collate the leasehold documentation needed by the buyers lawyers.
    • Many freeholders or managing agents in Belsize Park levy fees for supplying management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most common cause of delay in leasehold conveyancing in Belsize Park.
  • A minority of Belsize Park leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. The bank reference will need to confirm that the buyers are financially capable of paying 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.
  • If you have had any disputes with your freeholder or managing agents it is essential that these are settled prior to the flat being marketed. The purchasers and their solicitors will be warry about purchasing a property where there is an ongoing dispute. You may need to swallow your pride and pay any arrears of service charge or resolve 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.
  • If you have the benefit of shareholding in the Management Company, you should make sure that you hold the original share document. Obtaining a new share certificate is often a lengthy formality and frustrates many a Belsize Park conveyancing transaction. Where a reissued share certificate is necessary, do contact the company officers or managing agents (where applicable) for this at the earliest opportunity.

  • My wife and I have hit a brick wall in trying to purchase the freehold in Belsize Park. Can this matter be resolved via the Leasehold Valuation Tribunal?

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

    An example of a Lease Extension decision for a Belsize Park property 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 the unexpired residue of the current lease was 16.83 and 16.43.

    Other Topics

    Lease Extensions in Belsize Park