I am on look out for some leasehold conveyancing in St James. Before diving in I would like to find out the number of years remaining on the lease.

Assuming the lease is recorded at the land registry - and 99.9% are in St James - 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.

There are only Seventy years remaining on my lease in St James. I now want to extend my lease but my landlord is absent. What should I do?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. You will be obliged to demonstrate that you or your lawyers have done all that could be expected to locate the lessor. On the whole an enquiry agent may be helpful to carry out a search and to produce a report to be used as proof that the landlord is indeed missing. It is wise to seek advice from a property lawyer in relation to investigating the landlord’s absence and the vesting order request to the County Court covering St James.

Expecting to complete next month on a basement flat in St James. Conveyancing lawyers have said that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?

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

• The physical extent of the property. This will be the apartment itself but might include a roof space or cellar if appropriate.
• Defining your rights in relation to common areas in the building.By way of example, does the lease provide for a right of way over an accessway or hallways?
• Are you allowed to have a pet in the flat?
• Ground rent - how much and when you need to pay, and also know whether this will change in the future
• You should have a good understanding of the insurance provisions
• Changes to the flat (alterations and additions)
• What the implications are if you breach a clause of your lease?

I am looking at a two maisonettes in St James both have in the region of 50 years remaining on the leases. Do I need to be concerned?

A lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease gets shorter the marketability of the lease decreases and it becomes more costly to acquire a lease extension. This is why it is advisable to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease as mortgage companies may be reluctant to lend money on such properties. Lease enfranchisement can be a protracted process. We recommend you get professional help from a solicitor and surveyor with experience in this field

Do you have any top tips for leasehold conveyancing in St James from the point of view of expediting the sale process?

• A significant proportion of the frustration in leasehold conveyancing in St James can be bypassed where you get in touch lawyers the minute your agents start advertising the property and request that they start to collate the leasehold documentation which will be required by the purchasers’ conveyancers.
• In the event that you altered the property did you need the Landlord’s permission? Have you, for example laid down wooden flooring? Most leases in St James state that internal structural changes or laying down wooden flooring necessitate a licence issued by the Landlord acquiescing to such alterations. If you dont have the consents in place do not communicate with the landlord without contacting your solicitor in the first instance.
• A minority of St James leases require Licence to Assign from the landlord. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their solicitors.
• If you are supposed to have a share in the freehold, you should ensure that you hold the original share document. Arranging a duplicate share certificate is often a time consuming formality and frustrates many a St James home move. Where a new share certificate is necessary, you should approach the company director and secretary or managing agents (if applicable) for this sooner rather than later.
• You believe that you know the number of years remaining on your lease but you should double-check via your lawyers. A buyer’s conveyancer will be unlikely to recommend their client to where the remaining number of years is less than 75 years. It is therefore important at an as soon as possible that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

I have tried to negotiate informally with with my landlord for a lease extension without any joy. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a St James conveyancing firm to help?

Most certainly. We are happy to put you in touch with a St James conveyancing firm who can help.

An example of a Lease Extension case for a St James premises is Flats 12A & 19, Evelyn Mansions Carlisle Place in June 2009. The Tribunal held that the price to be paid for the new lease of Flat 12A is £168,824, For the other flat the price was set at £169,110 This case affected 2 flats. The the unexpired residue of the current lease was 56 years.

Leasehold Conveyancing in St James - Sample of Questions you should consider before Purchasing

The best form of lease arrangement is if the freehold reversion is owned by the leaseholders. In this arrangement the leaseholders have control and although a managing agent is frequently employed if it is larger than a house conversion, the managing agent is directed by the tenants. Generally speaking the outlay for major works tend not to be included within service charges, albeit that a few managing agents in St James ask tenants to contribute towards a sinking fund and this is used to offset against major works.