Common reasons people sell property directly
LDN Properties has been a direct cash buyer of London property since 2003. Several recurring situations lead homeowners to consider a direct sale instead of going through an estate agent.
Divorce and separation are among the more difficult situations homeowners face, and the practical demands of selling through an estate agent — repairs, viewings, chain delays — can be hard to coordinate at a time when both parties typically need the matter resolved cleanly. A direct sale to LDN Properties usually completes within a few weeks of an accepted offer, with a fixed completion date and no chain, and we are typically happy to consider properties in any condition.
Other personal circumstances bring sellers to us in similar numbers. Relocation for work — whether across the country or abroad — leaves homeowners coordinating a sale at distance, and a direct cash buyer removes the risk of a chain collapsing after the move. Financial difficulty, including the risk of repossession, is another situation where a known buyer and a known completion date can make a material difference.
We are also typically happy to consider probate sales, flats with shorter leases, and properties that need refurbishment. In each case the priority for most owners is completion certainty rather than chasing the very top of the open market.
The Somers Town property market
The property landscape in Somers Town is dominated by inter-war and post-war local authority blocks built on land cleared after slum demolition in the 1920s and 1930s. The Ossulston Estate to the south, with its tall flat-roofed blocks completed between 1927 and 1937, is one of the more architecturally distinctive London County Council estates of the period. Streets including Chalton Street, Polygon Road, Phoenix Road and Werrington Street carry a mix of Camden Council and former London County Council stock, along with newer purpose-built schemes near the British Library and the Francis Crick Institute. A small number of Georgian and early-Victorian houses survive on the fringes of the area.
This mix of building types brings several considerations that are worth understanding when selling. A large share of the leasehold flats originate from Right to Buy purchases under the Housing Act 1980, with leases typically granted in the 1980s and 1990s and now approaching the 80-year marriage value threshold. Some Right to Buy leases also include resale restrictions, pre-emption clauses giving the council first refusal, and discount recovery provisions if sold within the initial period. Section 20 major works on the larger estates can run to substantial sums, and EWS1 forms can apply on taller post-war blocks. Our guide to selling a short lease flat sets out the options in detail.
Recent Land Registry transactions in NW1 covering Somers Town typically show one-bedroom ex-local-authority flats selling between £325,000 and £450,000, two-bedroom flats commonly between £425,000 and £625,000, and larger family-sized flats in the higher floors of the Ossulston blocks trading toward £700,000. The few surviving period houses on the fringes of the area sit at materially higher levels.