Leasehold Conveyancing in St Luke's - Get a Quote from the leasehold experts approved by your lender

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Top Five Questions relating to St Luke's leasehold conveyancing

I am on look out for some leasehold conveyancing in St Luke's. Before I set the wheels in motion I require certainty as to the number of years remaining on the lease.

Assuming the lease is recorded at the land registry - and most are in St Luke's - 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.

My fiance and I may need to let out our St Luke's ground floor flat for a while due to a career opportunity. We instructed a St Luke's conveyancing practice in 2001 but they have since shut and we did not have the foresight to seek any advice as to whether the lease allows us to sublet. How do we find out?

Even though your last St Luke's conveyancing solicitor is not around you can review your lease to check if it allows you to sublet the premises. The rule is that if the lease is silent, subletting is permitted. There may be a precondition that you need to obtain permission from your landlord or some other party in advance of subletting. This means you not allowed to sublet without first obtaining consent. Such consent should not be unreasonably withheld. If the lease prohibits you from subletting the property you should ask your landlord if they are willing to waive this restriction.

Looking forward to exchange soon on a leasehold property in St Luke's. Conveyancing lawyers assured me that they will have a report out to me next week. What should I be looking out for?

Your report on title for your leasehold conveyancing in St Luke's should include some of the following:

  • You should be sent a copy of the lease
  • The length of the lease term You should be advised as what happens when the lease expires, and aware of the importance of not letting the lease term falling below eighty years
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • Are pets allowed in the flat?
  • Whether the lease restricts you from letting out the property, or having a home office for business
  • Whether your lease has a provision for a sinking fund?
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required For a comprehensive list of information to be contained in your report on your leasehold property in St Luke's please ask your lawyer in advance of your conveyancing in St Luke's

  • I've recently bought a leasehold flat in St Luke's. Do I have any liability for service charges relating to a period prior to my ownership?

    In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

    If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

    I own a first floor flat in St Luke's. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the sum due for the purchase of the freehold?

    Absolutely. We can put you in touch with a St Luke's conveyancing firm who can help.

    An example of a Lease Extension decision for a St Luke's flat is 137 & 139 Haberdasher Street in December 2013. The Tribunal determines in accordance with section 48 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 that the premium for the extended lease for each Property should be £12,350.00. This case was in relation to 2 flats. The remaining number of years on the lease was 72.39 years.

    What makes a St Luke's lease problematic?

    Leasehold conveyancing in St Luke's is not unique. All leases are individual and drafting errors can sometimes mean that certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:

    • A provision to repair to or maintain elements of the property
    • 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

    You could have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , Chelsea Building Society, and Britannia all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, obliging the purchaser to pull out.

    Other Topics

    Lease Extensions in St Luke's