Reasons homeowners consider a direct cash sale
We have been buying property directly across London since 2003. A few common situations tend to lead homeowners towards a direct cash sale rather than the open market.
A broken chain or a sale that has fallen through after months of conveyancing is one of the more frustrating situations a homeowner can face, and the open market does not always offer an obvious recovery path — particularly where an onward purchase is already committed. A direct sale to LDN Properties offers a known buyer, a known completion date and no chain, and we are typically happy to step in at short notice.
Sellers facing time pressure from relocation, a property they have already committed to buying, or financial difficulty often come to us for the same reason. The certainty of a fixed completion date carries more weight in those situations than the prospect of a marginal premium on the open market.
Other situations we deal with regularly include probate, divorce, downsizing, ill-health, properties that need refurbishment, and flats with shorter leases. In each case the focus is reaching a clean completion within a known timeframe.
The Maitland Park property market
The property landscape in Maitland Park is dominated by post-war local-authority housing, with the Maitland Park Estate, including the blocks fronting Maitland Park Villas, Maitland Park Road and Grafton Road, making up much of the residential stock. The estate was built between the 1950s and 1970s by Camden Borough Council as part of the wider post-war rebuild of this part of the borough, and many of the flats are now held leasehold following right-to-buy purchases since the 1980s. Alongside the estate stock there are surviving Victorian terraces around Hammond Street and Prince of Wales Road, and a smaller number of conversion flats in the older houses.
This mix of building types brings several considerations that are worth understanding when selling. Many leases granted during the post-war right-to-buy period are now sitting between 60 and 90 years remaining, and anything below 80 years brings the property into marriage value territory under the Leasehold Reform, Housing and Urban Development Act 1993. The larger blocks on the estate tend to run regular cycles of major works under Section 20 of the Landlord and Tenant Act 1985, with cost notices for window renewals, communal heating and roof works sometimes arriving in the conveyancing pack at less than helpful moments. Our guide to selling a short lease flat sets out the options in detail.
Recent Land Registry transactions in the NW3 portion of Maitland Park typically show one-bedroom ex-local-authority leasehold flats selling in the £325,000 to £425,000 range, two-bedroom flats between £475,000 and £625,000 depending on block and floor, and the smaller number of period conversions clearing somewhat higher. Houses are rare in the immediate area, with the surviving Victorian terraces around Hammond Street commonly trading above £1 million.