Hampstead leasehold conveyancing: Q and A’s
I have recently realised that I have Sixty One years remaining on my lease in Hampstead. I now want to extend my lease but my landlord is can not be found. What are my options?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. However, you will be required to prove that you have done all that could be expected to track down the landlord. On the whole a specialist may be useful to carry out a search and to produce an expert document to be accepted by the court as evidence that the landlord is indeed missing. It is wise to seek advice from a property lawyer both on devolving into the landlord’s disappearance and the vesting order request to the County Court covering Hampstead.
I am hoping to sign contracts shortly on a garden flat in Hampstead. Conveyancing lawyers assured me that they are sending me a report within the next couple of days. What should I be looking out for?
The report on title for your leasehold conveyancing in Hampstead should include some of the following:
- The total extent of the demise. This will be the flat itself but could also incorporate a roof space or cellar if appropriate.
I’m about to sell my garden apartment in Hampstead.Conveyancing solicitors are to be appointed soon but I have just received a yearly service charge invoice – should I leave it to the buyer to sort out?
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 until 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 hoping to put an offer on a small detached house that appears to meet my requirements, at a great figure which is making it more attractive. I have since found out that it's a leasehold as opposed to freehold. I would have thought that there are issues purchasing a house with a leasehold title in Hampstead. Conveyancing solicitors have are about to be appointed. Will they explain the issues?
Most houses in Hampstead are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. it is apparent that you are buying in Hampstead so you should seriously consider shopping around for a Hampstead conveyancing practitioner and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’spermission to carry out alterations. You may also be required to pay a contribution towards the maintenance of the communal areas where the house is located on an estate. Your solicitor should advise you fully on all the issues.
Can you provide any top tips for leasehold conveyancing in Hampstead with the intention of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in Hampstead can be avoided where you instruct lawyers as soon as you market your property and ask them to collate the leasehold documentation needed by the buyers lawyers.
- In the event that you altered the property did you need the Landlord’s consent? Have you, for example installed wooden flooring? Most leases in Hampstead state that internal structural alterations or addition of wooden flooring calls for a licence from the Landlord consenting to such changes. Where you dont have the paperwork in place you should not communicate with the landlord without contacting your lawyer in advance.
I have tried to negotiate informally with with my landlord for a lease extension without any joy. Can one apply to the Leasehold Valuation Tribunal? Can you recommend a Hampstead conveyancing firm to act on my behalf?
if there is a missing freeholder or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to decide the amount due.
An example of a Lease Extension matter before the tribunal 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 was in relation to 2 flats. The unexpired term was 16.83 and 16.43.