Quality lawyers for Leasehold Conveyancing in Camden Town

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Questions and Answers: Camden Town leasehold conveyancing

I am on look out for some leasehold conveyancing in Camden Town. Before I get started I want to be sure as to the number of years remaining on the lease.

If the lease is recorded at the land registry - and most are in Camden Town - 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.

I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have just discovered that the title is leasehold as opposed to freehold. I am assuming that there are issues purchasing a leasehold house in Camden Town. Conveyancing advisers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Camden Town ?

Most houses in Camden Town are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in Camden Town in which case you should be looking for a Camden Town conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. First you will need to check the number of years remaining. As a tenant you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example obtaining the landlord’spermission to conduct alterations. It may be necessary to pay a maintenance charge towards the upkeep of the communal areas where the property is part of an estate. Your conveyancer should appraise you on the various issues.

Back In 2002, I bought a leasehold house in Camden Town. Conveyancing and Aldermore mortgage organised. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1992. The conveyancing solicitor in Camden Town who acted for me is not around.What should I do?

The first thing you should do is make enquiries of the Land Registry to be sure that this person is indeed the registered owner of the freehold reversion. You do not need to instruct a Camden Town conveyancing lawyer to do this as it can be done on-line for £3. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

Can you provide any top tips for leasehold conveyancing in Camden Town with the intention of expediting the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Camden Town can be reduced if you appoint lawyers the minute you market your property and ask them to put together the leasehold information which will be required by the purchasers’ solicitors.
  • The majority freeholders or Management Companies in Camden Town charge for supplying management packs for a leasehold premises. You or your lawyers should enquire as to the fee that they propose to charge. The management information sought on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Camden Town.
  • If you have carried out any alterations to the property would they have required Landlord’s permission? Have you, for example laid down wooden flooring? Camden Town leases often stipulate that internal structural alterations or addition of wooden flooring require a licence from the Landlord consenting to such alterations. Where you dont have the approvals to hand you should not contact the landlord without contacting your solicitor in advance.
  • A minority of Camden Town leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference will need to confirm that the buyers are 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 may think that you are aware of the number of years left on your lease but it would be advisable verify this by asking your solicitors. A buyer’s conveyancer will not be happy to advise their client to to exchange contracts if the remaining number of years is under 80 years. It is therefore essential at an as soon as possible that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

  • Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £300000 flat in Camden Town in 10 days. The management company has quoted £336 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Camden Town?

    Camden Town conveyancing on leasehold maisonettes usually results in fees being levied by landlords agents :

    • Answering conveyancing due diligence enquiries
    • Where consent is required before sale in Camden Town
    • 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 lawyer will have no control over the level of the charges for this information but the average costs for the information for Camden Town leasehold premises is £350. For Camden Town 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 obliged to provide the information.

    Despite our best efforts, we have been unsuccessful in negotiating a lease extension in Camden Town. Can the Leasehold Valuation Tribunal adjudicate on premiums?

    Absolutely. We are happy to put you in touch with a Camden Town conveyancing firm who can help.

    An example of a Lease Extension matter before the tribunal for a Camden Town flat is Flat 120, Clare Court Judd Street in August 2013. the Tribunal held that the premium to be paid for the extension of the lease should be £64,650 This case related to 1 flat. The the number of years remaining on the existing lease(s) was 62.79 years.