Leasehold Conveyancing in West Hampstead - Get a Quote from the leasehold experts approved by your lender

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Recently asked questions relating to West Hampstead leasehold conveyancing

I am on look out for some leasehold conveyancing in West Hampstead. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.

Assuming the lease is recorded at the land registry - and almost all are in West Hampstead - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I am hoping to put an offer on a small detached house that appears to be perfect, at a great figure which is making it all the more appealing. I have since found out that the title is leasehold rather than freehold. I would have thought that there are issues purchasing a house with a leasehold title in West Hampstead. Conveyancing lawyers have are soon to be instructed. Will my lawyers set out the risks of buying a leasehold house in West Hampstead ?

The majority of houses in West Hampstead are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in West Hampstead in which case you should be looking for a West Hampstead conveyancing solicitor and be sure that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example requiring the landlord’spermission to carry out alterations. It may be necessary to pay a service charge towards the maintenance of the communal areas where the property is located on an estate. Your conveyancer should appraise you on the various issues.

I work for a long established estate agent office in West Hampstead where we have experienced a number of flat sales put at risk as a result of short leases. I have received inconsistent advice from local West Hampstead conveyancing solicitors. Please can you clarify whether the owner of a flat can initiate the lease extension process for the buyer?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.

An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

If all goes to plan we aim to complete our sale of a £225000 garden flat in West Hampstead on Tuesday in a week. The management company has quoted £372 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in West Hampstead?

For the majority of leasehold sales in West Hampstead conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

  • Completing pre-contract enquiries
  • Where consent is required before sale in West Hampstead
  • Copies of the building insurance and schedule
  • Deeds of covenant upon sale
  • Registering of the assignment of the change of lessee after a sale
Your lawyer will have no control over the level of the charges for this information but the average costs for the information for West Hampstead leasehold property is £350. For West Hampstead conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to provide answers.

I own a ground flat in West Hampstead. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the premium due for the purchase of the freehold?

if there is a absentee freeholder or if there is dispute about the premium for a lease extension, under the relevant statutes it is possible to make an application to the First-tier Tribunal (Property Chamber) to decide the price payable.

An example of a Lease Extension matter before the tribunal for a West Hampstead residence is Flat A 372 Cricklewood Lane in January 2013. The Tribunal decided that the premium for the extended lease should be £5,750.00 and that the terms of the new lease should be those set out in annex to the decsion This case affected 1 flat.

In relation to leasehold conveyancing in West Hampstead what are the most frequent lease problems?

Leasehold conveyancing in West Hampstead is not unique. All leases are individual and drafting errors can sometimes mean that certain sections are missing. The following missing provisions could result in a defective lease:

  • Repairing obligations to or maintain parts of the premises
  • A duty to insure the building
  • Clauses dealing with recovering service charges for expenditure on the building or common parts.
  • Maintenance charge proportions which don’t add up to the correct percentage

You could have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. National Westminster Bank, Norwich and Peterborough Building Society, and Platform Home Loans Ltd all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, forcing the purchaser to pull out.

Other Topics

Lease Extensions in West Hampstead