Examples of recent questions relating to leasehold conveyancing in Clerkenwell
Jane (my partner) and I may need to let out our Clerkenwell 1st floor flat temporarily due to a new job. We instructed a Clerkenwell conveyancing practice in 2002 but they have closed and we did not think at the time seek any guidance as to whether the lease allows us to sublet. How do we find out?
Notwithstanding that your previous Clerkenwell conveyancing solicitor is no longer around you can review your lease to check if you are permitted to let out the apartment. The accepted inference is that if the lease is non-specific, subletting is allowed. Quite often there is a prerequisite that you must seek consent via your landlord or other appropriate person in advance of subletting. This means that you cannot sublet without prior permission. Such consent should not be unreasonably withheld. If the lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.
I am hoping to sign contracts shortly on a ground floor flat in Clerkenwell. Conveyancing lawyers have said that they are sending me a report next week. What should I be looking out for?
The report on title for your leasehold conveyancing in Clerkenwell should include some of the following:
- The unexpired lease term You should be advised as what happens when the lease ends, and aware of the importance of not letting the lease term falling below eighty years
I have just appointed agents to market my 2 bed flat in Clerkenwell.Conveyancing lawyers have not yet been instructed but I have just received a half-yearly maintenance charge demand – Do I pay up?
The sensible thing to do is clear the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I am attracted to a couple of maisonettes in Clerkenwell both have approximately fifty years unexpired on the leases. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Clerkenwell. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease shortens the saleability of the lease reduces and it becomes more expensive to extend the lease. For this reason it is advisable to increase the term of the lease. It is often difficulties arise selling premises with a short lease as mortgage lenders may be unwilling to lend money on such properties. Lease extension can be a protracted process. We recommend you get professional assistance from a solicitor and surveyor with experience in this arena
I am employed by a reputable estate agent office in Clerkenwell where we have witnessed a number of flat sales derailed due to short leases. I have received inconsistent advice from local Clerkenwell conveyancing solicitors. Please can you confirm whether the seller of a flat can commence the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
After years of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in Clerkenwell. Can we issue an application to the Residential Property Tribunal Service?
in cases where there is a missing freeholder or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to judgment on the premium.
An example of a Lease Extension decision for a Clerkenwell premises is Flat 89 Trinity Court Grays Inn Road in February 2013. the Tribunal found that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 to the Leasehold Reform, Housing and Urban Development Act 1993 should be £36,229. This case affected 1 flat. The remaining number of years on the lease was 66.8 years.
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