St Pancras leasehold conveyancing: Q and A’s
I am hoping to exchange soon on a studio apartment in St Pancras. Conveyancing lawyers have said that they report fully tomorrow. What should I be looking out for?
The report on title for your leasehold conveyancing in St Pancras should include some of the following:
- The physical extent of the demise. This will be the flat itself but might include a loft or basement if appropriate.
- Does the lease prevent you from subletting the flat, or working from home
- You need to be told what constitutes a Nuisance in the lease
- Ground rent - how much and when you need to pay, and also know whether this is subject to change
- Whether your lease has a provision for a sinking fund?
- You should have a good understanding of the insurance provisions
I’m about to sell my 2 bed flat in St Pancras.Conveyancing lawyers have not yet been instructed but I have just had a quarterly service charge demand – what should I do?
The sensible thing to do is 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. This will smooth the conveyancing process.
My wife and I purchased a leasehold flat in St Pancras. Conveyancing and Nationwide Building Society mortgage are in place. I have received a letter from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1992. The conveyancing practitioner in St Pancras who acted for me is not around.Any advice?
First make enquiries of the Land Registry to make sure that the individual purporting to own the freehold is in fact the new freeholder. You do not need to instruct a St Pancras conveyancing practitioner to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I work for a busy estate agency in St Pancras where we have experienced a number of leasehold sales derailed as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local St Pancras conveyancing solicitors. Can you clarify whether the seller of a flat can initiate the lease extension process for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
What are your top tips when it comes to finding a St Pancras conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a conveyancer for lease extension works (regardless if they are a St Pancras conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with several firms including non St Pancras conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be helpful:
- How experienced is the practice with lease extension legislation?
- If the firm is not ALEP accredited then what is the reason?
I have tried to negotiate informally with with my landlord to extend my lease without success. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a St Pancras conveyancing firm to help?
in cases where there is a missing freeholder or if there is dispute 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 First-tier Tribunal (Property Chamber) to assess the sum to be paid.
An example of a Lease Extension matter before the tribunal for a St Pancras flat 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 affected 1 flat. The remaining number of years on the lease was 66.8 years.
St Pancras Leasehold Conveyancing - Sample of Queries Prior to Purchasing