Examples of recent questions relating to leasehold conveyancing in St James's
I am in need of some leasehold conveyancing in St James's. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and most are in St James's - then the leasehold title will always include the short particulars 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.
My husband and I may need to rent out our St James's basement flat temporarily due to a new job. We used a St James's conveyancing practice in 2004 but they have closed and we did not think at the time seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
Notwithstanding that your previous St James's conveyancing solicitor is no longer available you can review your lease to check if it allows you to sublet the property. The accepted inference is that if the lease is non-specific, subletting is allowed. Quite often there is a prerequisite that you are obliged to obtain permission from your landlord or some other party before subletting. The net result is that you cannot sublet in the absence of prior permission. The consent must not not be unreasonably refused ore delayed. If your lease does not allow you to sublet you should ask your landlord for their consent.
I’m about to sell my ground floor flat in St James's.Conveyancing is yet to be initiated but I have just had a half-yearly maintenance charge invoice – what should I do?
The sensible thing to do is clear the invoice 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 management companies 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. This will smooth the conveyancing process.
I am looking at a couple of flats in St James's both have in the region of forty five years unexpired on the lease term. Should I regard a short lease as a deal breaker?
A lease is a right to use the property for a period of time. As a lease shortens the marketability of the lease reduces and it becomes more expensive to extend the lease. For this reason it is generally wise to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We advise that you get professional assistance from a solicitor and surveyor with experience in this area
I have tried to negotiate informally with with my landlord to extend my lease without getting anywhere. Can I make an application to the Leasehold Valuation Tribunal? Can you recommend a St James's conveyancing firm to act on my behalf?
in cases where there is a missing landlord or if there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to make a decision on the price.
An example of a Freehold Enfranchisement matter before the tribunal 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 affected 1 flat. The remaining number of years on the lease was 73.26 years.
What are the common deficiencies that you witness in leases for St James's properties?
There is nothing unique about leasehold conveyancing in St James's. All leases is drafted differently and legal mistakes in the legal wording can result in certain sections are not included. 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 can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Yorkshire Building Society, The Mortgage Works, and Nottingham Building Society all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, obliging the buyer to withdraw.