I am on look out for some leasehold conveyancing in St Giles. Before diving in I want to be sure as to the remaining lease term.

If the lease is registered - and almost all are in St Giles - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I am tempted by the attractive purchase price for a two flats in St Giles which have in the region of fifty years left on the lease term. Will this present a problem?

There are plenty of short leases in St Giles. The lease is a right to use the premises for a period of time. As a lease shortens the saleability of the lease deteriorate and it becomes more costly to acquire a lease extension. This is why it is generally wise to extend the lease term. Sometimes it is difficult to sell a property with a short lease as mortgage companies may be unwilling to lend money on such properties. Lease extension can be a protracted process. We advise that you seek professional help from a conveyancer and surveyor with experience in this field

Do you have any top tips for leasehold conveyancing in St Giles with the intention of expediting the sale process?

• Much of the delay in leasehold conveyancing in St Giles can be avoided if you instruct lawyers the minute you market your property and request that they start to put together the leasehold documentation which will be required by the buyers solicitors.
• Many landlords or Management Companies in St Giles charge for supplying management packs for a leasehold homes. You or your lawyers should enquire as to the fee that they propose to charge. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in St Giles.
• If you have carried out any alterations to the residence would they have required Landlord’s approval? Have you, for example laid down wooden flooring? St Giles leases often stipulate that internal structural alterations or laying down wooden flooring require a licence from the Landlord consenting to such works. Where you fail to have the paperwork in place do not contact the landlord without checking with your solicitor before hand.
• If there is a history of conflict with your landlord or managing agents it is essential that these are resolved prior to the flat being marketed. The purchasers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You may have to bite the bullet and discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is better to present the dispute as over rather than unsettled.
• You may think that you are aware of the number of years remaining on your lease but it would be wise to verify this via your conveyancers. A purchaser's lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is below 80 years. In the circumstances it is essential at an as soon as possible that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £ 175000 maisonette in St Giles in 10 days. The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in St Giles?

For the majority of leasehold sales in St Giles conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Addressing conveyancing due diligence questions
• Where consent is required before sale in St Giles
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your solicitor will have no control over the level of the charges for this information but the average costs for the information for St Giles leasehold property is £350. For St Giles conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to provide answers.

I am the registered owner of a ground floor flat in St Giles. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the amount due for the purchase of the freehold?

if there is a missing freeholder or if there is disagreement about what the lease extension should cost, under the relevant statutes it is possible to make an application to the Leasehold Valuation Tribunal to assess the price payable.

An example of a Lease Extension decision for a St Giles property 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 was in relation to 1 flat. The the unexpired residue of the current lease was 66.8 years.

What are the common problems that you encounter in leases for St Giles properties?

Leasehold conveyancing in St Giles is not unique. Most leases are unique and drafting errors can result in certain sections are wrong. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain parts of the premises
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, The Mortgage Works, and Barclays Direct all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, forcing the buyer to pull out.

Leasehold Conveyancing in St Giles - A selection of Queries Prior to buying

Most St Giles leasehold flats will have a service charge for the upkeep of the building levied by the landlord. Should you buy the apartment you will have to meet this liability, normally periodically during the year. This could differ from a few hundred pounds to thousands of pounds for bigger purpose-built blocks. In all probability there will be a rentcharge to be met annual, this is usually not a significant sum, say around £50-£100 but you should to check it because sometimes it could be many hundreds of pounds.