Due to complete next month on a garden flat in Belsize Park. Conveyancing lawyers inform me that they will have a report out to me within the next couple of days. Are there areas in the report that I should be focusing on?

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

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
• The physical extent of the property. This will be the apartment itself but may include a loft or basement if appropriate.
• Are pets allowed in the flat?
• Does the lease prevent you from renting out the flat, or working from home
• Changes to the flat (alterations and additions)
• Responsibility for repairing the window frames

I’m about to sell my basement flat in Belsize Park.Conveyancing solicitors are to be appointed soon but I have just had a half-yearly maintenance charge demand – should I leave it to the buyer to sort out?

It best that you 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. Having a clear account will assist your cause and will leave you no worse off financially.

I am looking at a couple of apartments in Belsize Park both have in the region of forty five years remaining on the leases. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold apartment in Belsize Park is a wasting asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it reduces the marketability of the property. For most purchasers and banks, leases with under 75 years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Belsize Park conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

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

When appointing a solicitor for lease extension works (regardless if they are a Belsize Park conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you make enquires with two or three firms including non Belsize Park conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be of use:

• Can they put you in touch with client in Belsize Park who can give a testimonial?
• What are the charges for lease extension conveyancing?

Completion in due on the disposal of our £ 150000 garden flat in Belsize Park on Monday in a week. The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Belsize Park?

Belsize Park conveyancing on leasehold maisonettes more often than not necessitates the purchaser’s lawyer submitting enquiries for the landlord to address. Although the landlord is not legally bound to answer these enquiries most will be willing to assist. They are entitled levy a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is £350, in some situations it is above £800. The administration charge invoiced by the landlord must be accompanied by a synopsis of entitlements and obligations in respect of administration fees, without which the invoice is not strictly payable. Reality however dictates that one has no choice but to pay whatever is requested of you should you wish to exchange contracts with the buyer.

I have attempted and failed to negotiate with my landlord for a lease extension without any joy. Can one make an application to the Leasehold Valuation Tribunal? Can you recommend a Belsize Park conveyancing firm to assist?

if there is a absentee freeholder or where there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the First-tier Tribunal (Property Chamber) to judgment on the price.

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 remaining number of years on the lease was 16.83 and 16.43.

Leasehold Conveyancing in Belsize Park - Sample of Questions you should ask before buying

Many Belsize Park leasehold properties will be liable to pay a service bill for the upkeep of the building invoiced on behalf of the freeholder. If you purchase the property you will have to pay this amount, usually in instalments throughout the year. This can vary from a few hundred pounds to thousands of pounds for buildings with lifts and large common areas. In all probability there will be a rentcharge for you to pay annual, ordinarily this is not a exorbitant figure, say around £50-£100 but you need to check as occasionally it can be surprisingly expensive. Be sure to find out if there are any onerous restrictions in the lease. By way of example it is fairly common in Belsize Park leases that pets are not permitted in in a block in Belsize Park. If you love the propertyin Belsize Park yet your cat is not allowed to live with you then you will be faced hard determination.