Guaranteed fixed fees for Leasehold Conveyancing in Camden Town

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Any conveyancing solicitor can theoretically handle your leasehold conveyancing in Camden Town, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Top Five Questions relating to Camden Town leasehold conveyancing

Having checked my lease I have discovered that there are only 72 years remaining on my lease in Camden Town. I am keen 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 granted an extra 90 years by the Court. You will be obliged to demonstrate that you have made all reasonable attempts to track down the lessor. For most situations an enquiry agent should be useful to try and locate and prepare an expert document which can be used as evidence that the freeholder is indeed missing. It is wise to seek advice from a property lawyer both on investigating the landlord’s absence and the application to the County Court overseeing Camden Town.

I’m about to sell my 2 bed flat in Camden Town.Conveyancing lawyers have not yet been instructed but I have just received a quarterly service charge demand – what should I do?

It best that you 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 management companies 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. This will smooth the conveyancing process.

I've found a house that seems to meet my requirements, at a reasonable figure which is making it all the more appealing. I have since found out that the title is leasehold rather than freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Camden Town. Conveyancing lawyers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Camden Town ?

Most houses in Camden Town are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are buying in Camden Town in which case you should be looking for a Camden Town conveyancing solicitor and be sure that they are used to 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 to the property. The lease will likely included provisions for example obtaining the landlord’sconsent to carry out alterations. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the house is part of an estate. Your solicitor should appraise you on the various issues.

Last month I purchased a leasehold house in Camden Town. 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 owner 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 be sure 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).

Do you have any top tips for leasehold conveyancing in Camden Town with the purpose of expediting the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Camden Town can be avoided where you instruct lawyers the minute your agents start marketing the property and ask them to collate the leasehold documentation which will be required by the purchasers’ representatives.
  • Many freeholders or managing agents in Camden Town charge for providing management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management pack sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Camden Town.
  • A minority of Camden Town leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers obtain bank and professional references. Any bank reference will need to confirm that the buyers are able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their solicitors.
  • If you hold a share in a the freehold, you should make sure that you have the original share document. Arranging a re-issued share certificate can be a lengthy process and frustrates many a Camden Town home move. Where a new share certificate is required, do contact the company director and secretary or managing agents (if applicable) for this at the earliest opportunity.
  • You may think that you are aware of the number of years left on your lease but you should verify this via your conveyancers. A purchaser's lawyer will be unlikely to recommend their client to to exchange contracts if the lease term is less than 80 years. It is therefore important at an early stage that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

    • I have tried to negotiate informally with with my landlord to extend my lease without any joy. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a Camden Town conveyancing firm to help?

    You certainly can. We are happy to put you in touch with a Camden Town conveyancing firm who can help.

    An example of a Lease Extension decision for a Camden Town residence is Flat 120, Clare Court Judd Street in August 2013. the Tribunal held that the premium to be paid for the extension of the lease should be £64,650 This case was in relation to 1 flat. The the unexpired residue of the current lease was 62.79 years.