Common questions relating to Hampstead Garden Suburb leasehold conveyancing
I have recently realised that I have Sixty One years left on my flat in Hampstead Garden Suburb. I need to get lease extension but my landlord is can not be found. 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 apply 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 magistrate. You will be obliged to demonstrate that you or your lawyers have used your best endeavours to find the landlord. On the whole an enquiry agent should be useful to carry out a search and to produce a report to be used 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 overseeing Hampstead Garden Suburb.
I today plan to offer on a house that appears to be perfect, at a reasonable price which is making it more attractive. I have since been informed that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a leasehold house in Hampstead Garden Suburb. Conveyancing lawyers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Hampstead Garden Suburb ?
The majority of houses in Hampstead Garden Suburb are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. it is apparent that you are buying in Hampstead Garden Suburb in which case you should be looking for a Hampstead Garden Suburb conveyancing practitioner and check that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as requiring the freeholder’spermission to carry out alterations. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the house is part of an estate. Your conveyancer should advise you fully on all the issues.
I am attracted to a two apartments in Hampstead Garden Suburb both have about fifty years remaining on the leases. Do I need to be concerned?
A lease is a right to use the property for a prescribed time frame. As the lease shortens the marketability of the lease decreases and results in it becoming more costly to extend the lease. This is why it is often a good idea to extend the lease term. It is often difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease extension can be a protracted process. We recommend you seek professional help from a conveyancer and surveyor with experience in this area
I've recently bought a leasehold flat in Hampstead Garden Suburb. Am I liable to pay service charges for periods before my ownership?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element 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).
If all goes to plan we aim to complete our sale of a £250000 apartment in Hampstead Garden Suburb next week. The landlords agents has quoted £420 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Hampstead Garden Suburb?
Hampstead Garden Suburb conveyancing on leasehold apartments normally results in administration charges levied by freeholders :
- Answering conveyancing due diligence questions
- Where consent is required before sale in Hampstead Garden Suburb
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I have tried to negotiate informally with with my landlord to extend my lease without success. Can I make an application to the Leasehold Valuation Tribunal? Can you recommend a Hampstead Garden Suburb conveyancing firm to represent me?
Absolutely. We can put you in touch with a Hampstead Garden Suburb conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Hampstead Garden Suburb premises is FFF, 37 and Garage 1, Queensborough Court North Circular Road in September 2012. The Tribunal determined that the premium for the lease extension should be £67,037 This case was in relation to 1 flat. The unexpired lease term was 23.66 years.