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Hampstead leasehold conveyancing: Q and A’s

There are only Sixty One years unexpired on my flat in Hampstead. I now want to extend my lease but my landlord is missing. What options are available to me?

On the basis that 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 mean that your lease can be granted an extra 90 years by the magistrate. You will be obliged to prove that you have used your best endeavours to find the lessor. For most situations an enquiry agent should be useful to conduct investigations and prepare a report which can be used as evidence that the freeholder can not be located. It is advisable to get professional help from a solicitor in relation to devolving into the landlord’s disappearance and the application to the County Court covering Hampstead.

Planning to complete next month on a leasehold property in Hampstead. Conveyancing lawyers assured me that they report fully on Monday. What should I be looking out for?

The report on title for your leasehold conveyancing in Hampstead should include some of the following:

  • You should receive a copy of the lease
  • The physical extent of the property. This will be the property itself but might include a loft or basement if appropriate.
  • Does the lease prohibit wood flooring?
  • Changes to the flat (alterations and additions)
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • What you can do if a neighbour is in violation of a provision in their lease?
  • What the implications are if you breach a clause of your lease? For details of the information to be contained in your report on your leasehold property in Hampstead please ask your solicitor in ahead of your conveyancing in Hampstead

    • My wife and I purchased a leasehold flat in Hampstead. Conveyancing and Accord Mortgages Ltd mortgage went though with no issue. A letter has just been received from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1997. The conveyancing solicitor in Hampstead who acted for me is not around.Do I pay?

    First make enquiries of the Land Registry to be sure that this person is indeed the new freeholder. There is no need to incur the fees of a Hampstead conveyancing solicitor to do this as it can be done on-line for £3. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

    Do you have any advice 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 get in touch lawyers as soon as you market your property and request that they start to collate the leasehold documentation needed by the buyers lawyers.
    • The majority freeholders or managing agents in Hampstead charge for supplying management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management pack sought 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 common reason for frustration in leasehold conveyancing in Hampstead.
  • If you have carried out any alterations to the property would they have required Landlord’s approval? In particular have you installed wooden flooring? Most leases in Hampstead state that internal structural changes or laying down wooden flooring necessitate a licence from the Landlord approving such alterations. Should you fail to have the paperwork in place do not contact the landlord without checking with your solicitor in advance.
  • If you hold a share in a the freehold, you should make sure that you have the original share document. Arranging a duplicate share certificate is often a lengthy formality and frustrates many a Hampstead conveyancing transaction. If a reissued share is necessary, you should approach the company director and secretary or managing agents (if relevant) for this at the earliest opportunity.
  • You believe that you know the number of years left on your lease but you should verify this via your solicitors. A buyer’s conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is under 80 years. In the circumstances it is important at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • All being well we will complete the sale of our £200000 apartment in Hampstead on Friday in a week. The landlords agents has quoted £360 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Hampstead?

    Hampstead conveyancing on leasehold flats normally involves the purchaser’s conveyancer sending enquiries for the landlord to answer. Although the landlord is under no legal obligation to respond to these enquiries most will be willing to do so. They are at liberty invoice a reasonable administration fee for answering questions or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is £350, in some transactions it is above £800. The management information fee levied by the landlord must be sent together with a synopsis of entitlements and obligations in respect of administration charges, otherwise the invoice is not strictly payable. In reality you have no choice but to pay whatever is requested of you if you want to sell the property.

    I am the leaseholder of a basement flat in Hampstead. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the amount payable for the purchase of the freehold?

    Most definitely. We can put you in touch with a Hampstead conveyancing firm who can help.

    An example of a Lease Extension matter before the tribunal for a Hampstead residence 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 affected 2 flats. The unexpired lease term was 16.83 and 16.43.

    Other Topics

    Lease Extensions in Hampstead