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Camden Town leasehold conveyancing: Q and A’s

I have recently realised that I have Sixty One years left on my flat in Camden Town. I now wish to get lease extension but my landlord is absent. What options are available to me?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. However, you will be required to demonstrate that you or your lawyers have used your best endeavours to locate the landlord. For most situations an enquiry agent may be helpful to conduct investigations and prepare a report which can be accepted by the court as proof that the landlord can not be located. It is advisable to get professional help from a solicitor in relation to devolving into the landlord’s absence and the vesting order request to the County Court covering Camden Town.

Looking forward to complete next month on a leasehold property in Camden Town. Conveyancing lawyers have said that they will have a report out to me next week. What should I be looking out for?

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

  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
  • Defining your rights in relation to common areas in the block.E.G., does the lease grant a right of way over an accessway or staircase?
  • 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
  • Whether your lease has a provision for a reserve fund?
  • You should have a good understanding of the insurance provisions
  • 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
  • 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 Camden Town please ask your lawyer in advance of your conveyancing in Camden Town

    • My wife and I purchased a leasehold flat in Camden Town. Conveyancing and Clydesdale mortgage organised. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1997. The conveyancing practitioner in Camden Town who acted for me is not around.Do I pay?

    First make enquiries of HMLR to be sure that this person is indeed the new freeholder. You do not need to instruct a Camden Town conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

    I am a negotiator for a reputable estate agent office in Camden Town where we have witnessed a few flat sales put at risk as a result of leases having less than 80 years remaining. I have been given contradictory information from local Camden Town conveyancing solicitors. Can you clarify whether the owner of a flat can start the lease extension process for the purchaser on completion of the sale?

    Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.

    Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

    Can you provide any top tips for leasehold conveyancing in Camden Town from the point of view of expediting the sale process?

    • Much of the delay in leasehold conveyancing in Camden Town can be avoided if you get in touch lawyers as soon as your agents start marketing the property and request that they start to put together the leasehold documentation needed by the purchasers’ lawyers.
    • The majority freeholders or Management Companies in Camden Town levy fees for supplying management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Camden Town.
  • A minority of Camden Town leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference should make it clear that the buyer is able to meet the yearly 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 lawyers.
  • If there is a history of any disputes with your landlord or managing agents it is essential that these are settled before the property is put on the market. The buyers and their solicitors will be concerned about purchasing a property where there is a current dispute. You may need to swallow your pride and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. 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 details of the dispute to the purchasers, but it is better to reveal the dispute as over as opposed to ongoing.
  • If you are supposed to have a share in the Management Company, you should ensure that you are holding the original share certificate. Organising a replacement share certificate is often a time consuming process and frustrates many a Camden Town conveyancing transaction. Where a reissued share is necessary, do contact the company director and secretary or managing agents (if relevant) for this at the earliest opportunity.

    • My wife and I have hit a brick wall in trying to purchase the freehold in Camden Town. Can the Leasehold Valuation Tribunal adjudicate on premiums?

    in cases where there is a missing freeholder or if there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to decide the price payable.

    An example of a Lease Extension decision for a Camden Town residence 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 affected 1 flat. The unexpired lease term was 62.79 years.