Why is leasehold purchase conveyancing in Belsize Park is more expensive?
Belsize Park leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
We are close to exchanging contracts on the sale of our house in Belsize Park and according to the buyers it appears that there is a possibility that the property was built on contaminated land. A local lawyer would know this is not the case. It does beg the question why the buyers used a nationwide conveyancing firm rather than a conveyancing solicitor in Belsize Park. Having lived in Belsize Park for three years we know that this is a non issue. Should we contact our local Authority to obtain clarification that there is no issue.
It sounds as though you may have a conveyancing lawyer already. What do they say? You should check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
I used Wolstenholmes a few years past for my conveyancing in Belsize Park. Now, I need the documents but the law firm is no longer operating. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Belsize Park of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on last month in what should have been a straight forward, chain free conveyancing. Belsize Park is the location of the property. What do you suggest?
Flying freeholds in Belsize Park are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Belsize Park you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Belsize Park may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
Last February I purchased a leasehold flat in Belsize Park. Am I liable to pay service charges relating to a period prior to completion of my purchase?
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. It is an essential part 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).
I am the proprietor of a ground-floor 1960’s flat in Belsize Park. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the sum due for a lease extension?
You certainly can. We can put you in touch with a Belsize Park conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Belsize Park premises 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 related to 2 flats. The unexpired lease term was 16.83 and 16.43.