I am looking for value for money property lawyer. Do I opt for a nationwide conveyancer or a local Hampstead conveyancing lawyer?
Existing third party relationships is an important consideration when choosing conveyancing solicitors. Hampstead law firms often have connections with lenders and property, local authorities, surveyors and other law firms meaning the whole process is going to be much more straightforward for you. Possessing years of knowledge of the local area also helps too.
A friend pointed out to me me that in buying a property in Hampstead there could be a number of restrictions as to what one can do in terms of external alterations to a property. Is this right?
There are a number of properties in Hampstead which have some sort of restriction or requirement of consent to external alterations. Part of the conveyancing in Hampstead should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I have decided to exercise my right to buy my property in Hampstead off the council. I have a mortgage agreed with Co-operative. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Co-operative, you will need to appoint a solicitor on the Co-operative conveyancing panel.
My offer was accepted on an apartment in Hampstead on 12/5/2020, valuation was booked 3 days after, all came back fine. Solicitor retained, so the only thing outstanding was my mortgage offer. Having made daily calls to Lloyds and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Lloyds conveyancing panel. Are Lloyds entitled to hold back the Mortgage pending the lawyer being on the approved list?
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Lloyds to deal with your lawyer's application to be on the Lloyds conveyancing panel. There's no guarantee that your solicitor will be accepted.
I am looking for a flat up to £305k and identified one close by in Hampstead I like with amenity areas and station in the vicinity, however it's only got 61 years unexpired on the lease. There is not much else in Hampstead in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you need a home loan the remaining unexpired lease term will be an issue. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for at least 2 years you could ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer regarding this.
What does commercial conveyancing in Hampstead cover?
Non domestic conveyancing in Hampstead incorporates a broad array of guidance, given by regulated solicitors, relating to business property. For instance, this type of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing business tenancies 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 tenancies.
Can you provide any advice for leasehold conveyancing in Hampstead with the purpose of expediting the sale process?
- Much of the frustration in leasehold conveyancing in Hampstead can be reduced if you instruct lawyers as soon as you market your property and ask them to collate the leasehold documentation needed by the buyers’ conveyancers. Some Hampstead leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. The bank reference will need to confirm that the buyers are financially capable of paying 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 buyers or their lawyers. The majority of landlords or managing agents in Hampstead charge for providing management packs for a leasehold home. You or your lawyers should find out the fee that they propose to charge. The management information can be applied for 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 common cause of frustration in leasehold conveyancing in Hampstead. If you have carried out any alterations to the residence would they have required Landlord’s permission? In particular have you installed wooden flooring? Most leases in Hampstead state that internal structural changes or laying down wooden flooring require a licence issued by the Landlord approving such works. Should you dont have the paperwork to hand do not contact the landlord without checking with your solicitor first. You may think that you are aware of the number of years left on your lease but it would be advisable double-check via your solicitors. A purchaser's lawyer will be unlikely to recommend their client to where the lease term is under 75 years. In the circumstances it is important at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.
Having spent months of correspondence we are unable to agree with our landlord on how much the lease extension should cost for our flat in Hampstead. Can we issue an application to the Residential Property Tribunal Service?
in cases where there is a absentee landlord or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to calculate the price payable.
An example of a Lease Extension case for a Hampstead 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 was in relation to 2 flats. The remaining number of years on the lease was 16.83 and 16.43.
I am buying a ground floor apartment in Hampstead. Conveyancing lawyer has been awaiting, from the owner, building insurance schedule. This afternoon I was advised that the vendor needs to send the insurance paperwork for the flat above in addition. Why would my lawyer want to see the insurance for the flat above? Is it really necessary? We have been in hold for the previous fortnight…
It is not impossible in leasehold conveyancing in Hampstead to discover Conveyancing in Hampstead in a minority of cases reveals that the lease requires the tenant's to insure their individual flats as opposed to the landlord insuring the whole property - which is clearly preferable. You should contact your lawyer but it would seem that your conveyancing practitioner is attempting to establish that the whole building is insured. Insuring a ground floor residence is no help when it comes to rebuilding after a fire if the 1st floor cannot be rebuilt as a result of lack of insurance cover.