Top Five Questions relating to Camden Town leasehold conveyancing
I have recently realised that I have 72 years left on my lease in Camden Town. I need to extend my lease but my landlord is can not be found. What are my options?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. However, you will be required to prove that you have used your best endeavours to find the freeholder. On the whole a specialist would be useful to carry out a search and prepare a report which can be used as proof that the landlord can not be located. It is advisable to get professional help from a conveyancer both on investigating the landlord’s disappearance and the application to the County Court covering Camden Town.
My wife and I purchased a leasehold flat in Camden Town. Conveyancing and The Mortgage Works mortgage organised. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1997. The conveyancing practitioner in Camden Town who previously acted has now retired.Any advice?
The first thing you should do is contact the Land Registry to make sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a Camden Town conveyancing solicitor to do this as you can do this on the Land Registry website for £3. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I've recently bought a leasehold flat in Camden Town. Do I have any liability for service charges for periods before my ownership?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, 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 be sure 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).
What are your top tips when it comes to choosing a Camden Town conveyancing practice to deal with our lease extension?
When appointing a conveyancer for your lease extension (regardless if they are a Camden Town conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with several firms including non Camden Town 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 why not?
Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £300000 garden flat in Camden Town next Friday . The management company has quoted £300 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Camden Town?
Camden Town conveyancing on leasehold apartments more often than not requires the buyer’s solicitor submitting questions for the landlord to answer. Although the landlord is not legally bound to respond to such questions most will be content to do so. They are at liberty levy a reasonable charge for responding to questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is over three hundred pounds, in some cases it exceeds £800. The management information fee required by the landlord must be sent together with a synopsis of entitlements and obligations in relation to administration fees, otherwise the invoice is not strictly payable. In reality you have little option but to pay whatever is demanded if you want to sell the property.
I own a a ground floor purpose built flat in Camden Town. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the amount due for the purchase of the freehold?
You certainly can. We can put you in touch with a Camden Town conveyancing firm who can help.
An example of a Lease Extension case 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 term was 62.79 years.