Find a Lender-Approved Local Conveyancer in Belsize Park

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Conveyancing in Belsize Park : Keep it Local

Reasons to use our Belsize Park conveyancing solicitors

  • 1 Using a local Solicitor in the main means that you will receive a more personal touch. Online forums bear testimony to the idea that in choosing a an online conveyancing factory, you tend to be looked after by a team of people who who progress matters by determining whether the ‘computers says no’.
  • 2 No matter what any alternative lawyers advise it may be necessary to visit your conveyancer to execute documents. There are enough parties engaged in a homemove without having to include Royal Mail into the mix.
  • 3 The practices shown on our directory have a variation of conveyancing solicitors, legal executives and support staff handling over one hundred thousand cases each year.
  • 4 There is a better than average chance that the other side’s lawyers are based in Belsize Park - if so both parties will be less confrontational
  • 5 Belsize Park solicitors work in conjunction with Belsize Park estate agents, house builders, surveyors, lenders and other professionals to ensure that the highest level of service is provided to home movers every step of the way, offering all the legal expertise and help you require

Examples of recent conveyancing in Belsize Park since October 2021*

Disposal

of apartment Winchester Road NW3 3ND, at the agreed price of £840,000. Leasehold conveyancing included: dealing with appropriate requisitions and enquiries, securing official copies of the title, agreeing completion date with parties

Transfer

of flat St Cuthberts Road NW2 3QH, at purchase price of £535,000. Leasehold conveyancing included: drafting the sale agreement and Transfer, dealing with appropriate requisitions and enquiries, preparing statement detailing charges

Disposal

of apartment Haslemere Road N8 9QX, at the agreed sum of £1,100,000. Leasehold conveyancing included: drafting the sale agreement and Transfer, agreeing completion date with parties, preparing statement detailing charges

Purchase

of flat Rawreth Walk N1 8TN, at a price of £473,280. Leasehold conveyancing legalities included: taking formal instructions from and updating the seller client, agreeing completion date with parties, setting up the completion formalities

Recently asked questions about conveyancing in Belsize Park

All was ready to move into my new home in Belsize Park next Monday. I have now been asked to send a copy of my building insurance schedule by my solicitor as he says that he has to check this in his capacity as lawyer for the lender. What risks does the mortgage company expect the insurance to cover?

All property lawyers on acting for lenders would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s Part 2 requirements. These obligations are not specific to conveyancing in Belsize Park.

I am about to put a bid on a leasehold property in Belsize Park. The property agents assure me that it is usual for flats in Belsize Park to have less than 75 years remaining. I am expecting a mortgage with The Mortgage Works. Will the property be mortgageable given that the lease has 70 years unexpired.

Most leasehold conveyancing experts should be able to deal with a lease extension. if you are getting a mortgage then your lender may insist that the lease be extended before competition. The Mortgage Works have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 11/1/2022 the requirements read as follows :

Minimum unexpired lease term is 70 years with 30 years remaining at the end of the mortgage term.
Where the unexpired lease term is different to that recorded on the mortgage offer, the following clarifies if we need to be informed:

Second hand property:
- If the unexpired lease term on the offer is 85 years or more - only advise us if the actual lease term is less than 85 years
- if the unexpired lease term on the offer is less than 85 years – advise us if the actual lease term is different than reported
- For equity share applications - advise us if the actual lease term is different than reported on the offer

New build property:
- If the unexpired lease term stated on the offer is 125 years (flat) / 250 years (house) or more - only advise us if the actual lease term is less than 125 years (flat) / 250 years (house)
- For equity share applications - always advise us if the actual lease term is different than reported on the offer

Lease terms such as ground rent and event fees must be reasonable at all times during the term of the lease and adhere to our requirements below. If you’re unsure as to whether the terms of a lease are unreasonable or onerous, please refer the details to us in plain English for Valuer consideration. If the potentially onerous terms are in relation to the ground rent please include the current ground rent figure per annum, how often it will be reviewed and the price structure it will be reviewed against. See the guidance below.

SECOND HAND PROPERTIES

Unacceptable - advise Originations (Will be declined):
- Unexpired lease term less than 70 years
- Less than 30 years remaining at the end of the mortgage term
- Ground Rent greater than 0.5% of the property value
- Ground Rent doubles less than every 20 years (e.g. doubles every 5, 10 or 15 years) - acceptable if doubles every 20 years or more
- Ground Rent is compounded RPI
- Ground Rent review period less than or equal to 5 years

Refer to Originations (Valuer will consider any impact on valuation figure and marketability):
- Unexpired lease term is 70 to 85 years
- Ground Rent greater than 0.1% and less than or equal to 0.5% of the property value
- Ground Rent escalation is linked to any indices greater than RPI
- Ground Rent escalation is linked to the value of the building*
- Ground Rent review period is greater than 5 and less than 10 years
- Event clauses exist for normal use e.g. changing the carpet, installing a TV aerial etc
- Estate Rent Charges greater than £500 p/a (please provide details of what the charges cover)
- Service Charges greater than 0.5% of property value p/a (please provide details of what the charges cover)
- Anything that appears onerous, unusual or out of the ordinary

Acceptable (no requirement to advise Originations):
- Unexpired lease term greater than 85 years
- Ground Rent less than or equal to 0.1% of the property value
- Ground Rent review period greater than or equal to 10 years
- Ground Rent escalation less than or equal to RPI

NEW BUILD PROPERTIES (includes office conversions)

Unacceptable - advise Originations (Will be declined):
- Unexpired lease term less than 125 years on a new build flat or less than 250 years on a new build house
- Starting Ground Rent greater than 0.1% of the property value
- Ground Rent review period less than or equal to 5 years
- Ground Rent doubles less than every 20 years (e.g. doubles every 5, 10 or 15 years) - acceptable if doubles every 20 years or more
- Ground Rent is compounded RPI

Refer to Originations (Valuer will consider any impact on valuation figure and marketability):
- Ground Rent is linked to any indices greater than RPI
- Ground Rent is linked to the value of the building*
- Event clauses exist for normal use e.g. changing the carpet, installing a TV aerial etc
- Estate Rent Charges greater than £500 p/a (please provide details of what the charges cover)
- Service Charges greater than 0.5% of property value p/a (please provide details of what the charges cover)
- Anything else appears onerous, unusual or out of the ordinary

Acceptable (no requirement to advise Originations):
- Unexpired lease term greater than or equal to 125 years on a new build flat or greater than or equal to 250 years on a new build house
- Starting Ground Rent less than or equal to 0.1% of the property value
- Ground Rent review period greater than 5 years
- Ground Rent escalation less than or equal to RPI

* Where the Ground Rent escalation is linked to the value of the building, please provide the following:
- How is the value of the block/unit currently calculated and if the assessment relates to the block(s), how is the Ground Rent calculated/apportioned per property?
- The current valuation and Ground Rent for each unit
- What is the mechanism for future valuations of the block and how is the Ground Rent calculated/apportioned?
- What is the right of appeal? And is this a documented process within the lease?
- Who bears the cost of the valuation (and appeal) process?
- Confirmation the review period is not less than twenty years

I have been told that property searches are the primary cause of obstruction in Belsize Park conveyancing transactions. Is this right?

The Council of Property Search Organisations (CoPSO) released findings of research by MoveWithUs that conveyancing searches do not feature amongst the common causes of hindrances in the conveyancing process. Local searches are not likely to be the root cause of slowing down conveyancing in Belsize Park.

Over the last few months I have been searching for a ground for flat up to £235,500 and found one near me in Belsize Park I like with a park and transport links in the vicinity, however it's only got 49 years on the lease. I can't really find anything else in Belsize Park in this price bracket, so just wondered if I would be making a grave error buying a short lease?

If you need a home loan the remaining unexpired lease term may be problematic. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least 2 years you could ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor concerning this matter.

What does commercial conveyancing in Belsize Park cover?

Commercial conveyancing in Belsize Park covers a wide array of guidance, provided by qualified solicitors, relating to business premises. By way of example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of leases.

My wife and I purchased a leasehold house in Belsize Park. Conveyancing and The Mortgage Works mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1994. The conveyancing solicitor in Belsize Park who acted for me is not around. Do I pay?

The first thing you should do is make enquiries of HMLR to make sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. There is no need to incur the fees of a Belsize Park conveyancing firm to do this as it can be done on-line for less than a fiver. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

Following years of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in Belsize Park. Can we issue an application to the Residential Property Tribunal Service?

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

An example of a Lease Extension case for a Belsize Park 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 was in relation to 2 flats. The number of years remaining on the existing lease(s) was 16.83 and 16.43.

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Sample of conveyancing solicitors in Belsize Park regulated by the SRA

It is important to note that the listed firms do not limit their work for conveyancing in Belsize Park but also conveyancing throughout England and Wales.

  • Chalcots, 62 Stanbury Court, 99 Haverstock Hill, London, NW3 4RR
  • Crumplins Solicitors, 77 Haverstock Hill, London, NW3 4SL
  • Gh Canfields Llp, 129 Finchley Road, Swiss Cottage, London, NW3 6HY
  • Newtons, 22 Fitzjohns Avenue, London, NW3 5NB
  • Stringer Smith & Levett, 239a Finchley Road, London, NW3 6JB

Commercial Conveyancing solicitors in Belsize Park regulated by the SRA

The list below is a small selection of solicitors in Belsize Park specialising in commercial conveyancing in Belsize Park. This may include advice on taking a commercial lease as a tenant
  • Chalcots, 62 Stanbury Court, 99 Haverstock Hill, London, NW3 4RR
  • Crumplins Solicitors, 77 Haverstock Hill, London, NW3 4SL
  • Marshall F Levine & Associates, 81 Haverstock Hill, London, NW3 4SL
  • Gh Canfields Llp, 129 Finchley Road, Swiss Cottage, London, NW3 6HY
  • Newtons, 22 Fitzjohns Avenue, London, NW3 5NB

Planning law solicitors in Belsize Park regulated by the Solicitors Regulation Authority

The list below is a non-comprehensive list of solicitors in Belsize Park with expertise in planning law. The solicitors can give expert legal advice on all aspects of planning, including tree preservation orders
  • F S Garford, 26 Fairfax Place, London, NW6 4EH
  • Grower Freeman, Ivor House, 25-26 Ivor Place, London, NW1 6HR
  • Glovers Solicitors Llp, 6 York Street, London, W1U 6QD
  • Tuckers Solicitors Llp, 39 Warren Street, London, London, W1T 6AF
  • Streathers Solicitors Llp, 44 Baker Street, London, London, W1U 7AL

*Source acknowledgement: House price data produced by Land Registry as well data supplied by Lexsure Ltd.

© Crown copyright material is reproduced with the permission of Land Registry under delegated authority from the Controller of HMSO.