***NB: Camden was sending out Assignment Packs with inaccurate info regarding the Boundary wall works. THIS WAS NOT TO BE AND WILL NOT BE CHARGED TO LEASEHOLDERS – As a result of our bringing this to Camden’s attention, Camden informs us that the information for this pack has been updated. (Aug 2015)
Please note that NO “FOR SALE” Signs are to be erected anywhere on the Estate.
The Council provide an Assignment Package to assist with the sale of a Leasehold property. Below is a letter giving details of what is included in the pack and Camden’s fee of £193.00 (although with admin costs it comes to nearer£290). It is not a Legal requirement to provide your buyer with an Assignment Package, however it may assist you with the sale of the property as the buyer is likely to have questions which are answered in the pack. (please note that you can probably get most of the answers from this website).
Leaseholder’s responsibilities; If a sale goes thorough then the new owner needs to serve the Council with a Notice of Transfer and fee of £60 and the Council will then amend the Leaseholder details on their records. Any outstanding service charges at the time of sale will remain the responsibility of the registered leaseholder. Therefore if a new leaseholder is registered, they would inherit any outstanding service charges.
In so far as payment of service charges is concerned the vendor and the purchaser are to come to a private arrangement with regard to the apportionment of charges. Camden Council will not become involved at any time. The Council must be advised of the arrangements made for payment of all service charges – including those charges that still have to be invoiced, at date of completion on the sale.
Click here for letter from Camden: Assignment Pack Info for Selling&Buying
Information provided by Matt Herring – Assignments & Sales Officer (June 2015)
IF YOU SELL YOUR PROPERTY PLEASE INFORM YOUR TRA AND SUGGEST YOUR BUYERS CONTACT US SO THAT THEY CAN BE KEPT UP TO DATE WITH IMPORTANT INFORMATION. THANK YOU.