Fixed-fee leasehold conveyancing in Hampstead:

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Sample questions relating to Hampstead leasehold conveyancing

I want to rent out 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 dictates 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 permission.

I’m about to sell my ground floor apartment in Hampstead.Conveyancing lawyers have not yet been instructed but I have just had a quarterly maintenance charge demand – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should pay 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 managing agents 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.

Back In 2005, I bought a leasehold flat in Hampstead. Conveyancing and Halifax mortgage organised. I have received a letter from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Hampstead who acted for me is not around.What should I do?

The first thing you should do is contact HMLR to be sure that the individual purporting to own the freehold 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 rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am attracted to a two maisonettes in Hampstead both have about fifty years unexpired on the leases. Will this present a problem?

There are no two ways about it. A leasehold apartment in Hampstead is a wasting asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it reduces the marketability of the premises. For most buyers and lenders, leases with under 75 years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Hampstead conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Can you offer any advice when it comes to appointing a Hampstead conveyancing firm to deal with our lease extension?

When appointing a solicitor for lease extension works (regardless if they are a Hampstead conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with two or three firms including non Hampstead conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

  • Can they put you in touch with client in Hampstead who can give a testimonial?
  • What are the costs for lease extension conveyancing?

  • Having spent months of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in Hampstead. Can we issue an application to the Residential Property Tribunal Service?

    You certainly can. We can put you in touch with a Hampstead conveyancing firm who can help.

    An example of a Lease Extension decision 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 the number of years remaining on the existing lease(s) was 16.83 and 16.43.

    Other Topics

    Lease Extensions in Hampstead