Recently asked questions relating to St James's leasehold conveyancing
Planning to exchange soon on a basement flat in St James's. Conveyancing solicitors inform me that they report fully on Monday. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in St James's should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
I have just appointed agents to market my garden apartment in St James's.Conveyancing lawyers have not yet been instructed but I have just had a yearly service charge demand – should I leave it to the buyer to sort out?
It best that you pay 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 today plan to offer on a house that appears to be perfect, at a reasonable price which is making it all the more appealing. I have since discovered that the title is leasehold as opposed to freehold. I would have thought that there are issues purchasing a leasehold house in St James's. Conveyancing advisers have are soon to be instructed. Will my lawyers set out the risks of buying a leasehold house in St James's ?
Most houses in St James's are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in St James's so you should seriously consider shopping around for a St James's conveyancing solicitor and check that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as requiring the landlord’spermission to carry out alterations. You may also be required to pay a contribution towards the maintenance of the estate where the property is part of an estate. Your conveyancer will appraise you on the various issues.
What are your top tips when it comes to finding a St James's conveyancing practice to deal with our lease extension?
If you are instructing a conveyancer for your lease extension (regardless if they are a St James's conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with several firms including non St James's conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be helpful:
- How familiar is the firm with lease extension legislation?
All being well we will complete the sale of our £300000 maisonette in St James's in six days. The landlords agents has quoted £372 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in St James's?
St James's conveyancing on leasehold apartments typically necessitates administration charges invoiced by management companies :
- Completing pre-contract questions
- Where consent is required before sale in St James's
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I have attempted and failed to negotiate with my landlord for a lease extension without any joy. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a St James's conveyancing firm to represent me?
Absolutely. We are happy to put you in touch with a St James's conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a St James's property is 20 Avonwick Road in July 2013. The Tribunal was dealing with an application under Section 26 of the Leasehold Reform Housing and Urban Development Act 1993 for a determination of the freehold value of the property. It was concluded that the price to be paid was Fifteen Thousand Nine Hundred and Seventy (£15,970) divided as to £8,200 for Flat 20 and £7,770 for Flat 20A This case was in relation to 1 flat. The the number of years remaining on the existing lease(s) was 73.26 years.