We were just about to exchange contracts for a leasehold flat in Camden. We have hit a snag. The mortgage offer with Clydesdale runs out on 11/11/2025 but the vendors are insisting on a completion date of 13/11/2025. Can one extend the loan expiry date?
The best person to deal with your question is your lawyer who will calculate if they better off negotiating with the mortgage company, seller’s representatives, estate agents or conceivably all three taking into account the circumstances your house move to date.
My partner and I are downsizing from our home in Camden and according to the buyers it appears that there is a risk of it being built land that was not decontaminated. A local lawyer would know that there is no such problem. It does beg the question why the purchasers used a nationwide conveyancing firm rather than a conveyancing solicitor in Camden. We have lived in Camden for six years we know that this is a non issue. Should we contact our local Authority to seek confirmation that the buyers are looking for.
It sounds as though you may have a conveyancing solicitor already. What do they say? You must 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 life insurance to cover that same sickness)
The estate agent has sent us the confirmation of our purchase of a new build flat in Camden. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here are examples of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Camden
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The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Please supply a car parking plan. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
How easy is it to use your search tool to find a conveyancing solicitor in Camden on the authorised to act for my lender?
1st choose a lender such as HSBC Bank, Chelsea Building Society or Alliance & Leicester then choose your preferred area a common one being Camden. Conveyancing organisations in Camden and nationally should be shown.
Notwithstanding our best efforts, we have been unsuccessful in trying to reach an agreement for a lease extension in Camden. Can the Leasehold Valuation Tribunal adjudicate on premiums?
if there is a missing freeholder or where there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to make a decision on the price payable.
An example of a Lease Extension case for a Camden flat is Flat 2 27 Mackeson Road in December 2012. The Tribunal assessed the value of the lease extension premium at £35,435 and rounded the figure to £35,500 This case related to 1 flat. The unexpired term was 64.77 years.
Are there frequently found defects that you witness in leases for Camden properties?
There is nothing unique about leasehold conveyancing in Camden. All leases are unique and legal mistakes in the legal wording can sometimes mean that certain provisions are missing. The following missing provisions could result in a defective lease:
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Maintenance charge proportions which don’t add up to the correct percentage A duty to insure the building
You could encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Leeds Building Society, and TSB all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, obliging the purchaser to pull out.
Why do I have to provide my conveyancing practitioner with various items of identification before they can proceed with my conveyancing in Camden?
Camden property lawyers are required by the Law Society, Solicitors Regulation Authority, HMLR and current Money Laundering Regulations to record that the have verified the identity of their clients. It is also sometimes a requirement of your lender where you are taking a mortgage. Furthermore they have to complete various forms, particularly those relating to SDLT and need to have details such as your full names, NI number and date of birth.