Frequently asked questions relating to Hampstead leasehold conveyancing
I wish to sublet my leasehold flat in Hampstead. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?
Some leases for properties in Hampstead do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably withhold but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
I have just appointed agents to market my basement apartment in Hampstead.Conveyancing is yet to be initiated but I have just had a half-yearly maintenance charge demand – Do I pay up?
The sensible thing to do is discharge the invoice 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 management companies 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've recently bought a leasehold house in Hampstead. Am I liable to pay service charges relating to a period prior to completion of my purchase?
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 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 provide any top tips for leasehold conveyancing in Hampstead with the aim of speeding up the sale process?
- Much of the delay in leasehold conveyancing in Hampstead can be bypassed if you instruct lawyers as soon as your agents start marketing the property and request that they start to collate the leasehold information needed by the purchasers’ conveyancers.
- The majority landlords or managing agents in Hampstead charge for providing management packs for a leasehold homes. 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 accelerating the process. The average time it takes to receive management information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Hampstead.
All being well we will complete our sale of a £325000 flat in Hampstead next week. The management company has quoted £336 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Hampstead?
For most leasehold sales in Hampstead conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Addressing conveyancing due diligence enquiries
- Where consent is required before sale in Hampstead
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I am the leaseholder of a basement flat in Hampstead. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the amount due for a lease extension?
Most definitely. We are happy to put you in touch with a Hampstead conveyancing firm who can help.
An example of a Lease Extension case for a Hampstead property is Raised Ground 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.