St Johns leasehold conveyancing: Q and A’s
My partner and I may need to rent out our St Johns ground floor flat temporarily due to taking a sabbatical. We instructed a St Johns conveyancing practice in 2004 but they have closed and we did not have the foresight to get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
Your lease governs the relationship between the landlord and you the flat owner; in particular, it will say if subletting is banned, or permitted but only subject to certain caveats. The rule is that if the lease contains no specific ban or restriction, subletting is allowed. The majority of leases in St Johns do not contain subletting altogether – such a clause would adversely affect the market value the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.
Expecting to complete next month on a studio apartment in St Johns. Conveyancing solicitors have said that they report fully within the next couple of days. What should I be looking out for?
The report on title for your leasehold conveyancing in St Johns should include some of the following:
- Defining your legal entitlements in relation to the communal areas in the building.For instance, does the lease permit a right of way over a path or hallways?
- Do you need to have carpet in the flat or are you allowed wood flooring?
- Ground rent - how much and when you need to pay, and also know whether this is subject to change
- You should have a good understanding of the insurance provisions
- Changes to the flat (alterations and additions)
- Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
- What the implications are if you breach a clause of your lease?
My wife and I purchased a leasehold flat in St Johns. Conveyancing and Clydesdale mortgage organised. A letter has just been received from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1995. The conveyancing practitioner in St Johns who previously acted has long since retired.Do I pay?
The first thing you should do is make enquiries of HMLR to be sure that the individual purporting to own the freehold is indeed the new freeholder. It is not necessary to incur the fees of a St Johns conveyancing solicitor to do this as you can do this on the Land Registry website for £3. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am attracted to a two flats in St Johns which have approximately forty five years unexpired on the leases. Will this present a problem?
A lease is a right to use the property for a prescribed time frame. As the lease gets shorter the saleability of the lease decreases and results in it becoming more costly to extend the lease. This is why it is advisable to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We recommend you seek professional help from a solicitor and surveyor with experience in this arena
Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £ 275000 flat in St Johns in nine days. The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in St Johns?
St Johns conveyancing on leasehold maisonettes normally necessitates administration charges levied by management companies :
- Completing pre-exchange enquiries
- Where consent is required before sale in St Johns
- 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 to extend my lease without getting anywhere. Can I make an application to the Leasehold Valuation Tribunal? Can you recommend a St Johns conveyancing firm to assist?
Absolutely. We can put you in touch with a St Johns conveyancing firm who can help.
An example of a Lease Extension case for a St Johns property is 73 Walerand Road in August 2012. the result of the findings of the Tribunal led to a premium to be paid for the extended lease in respect of Flat 73 in the sum of £10,040. The premium applicable in respect of Flat 85 was £5,710. This case affected 2 flats. The the unexpired residue of the current lease was 72 years.
I acquired a split level flat in St Johns, conveyancing formalities finalised 2009. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable properties in St Johns with an extended lease are worth £207,000. The ground rent is £65 levied per year. The lease ends on 21st October 2087
You have 61 years unexpired we estimate the price of your lease extension to range between £20,000 and £23,000 plus professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.