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London Conveyancing And The Long Term Lease Extension!

Firstly you need to know:

Who can extend?

You can apply to extend your lease only if you are what is known as a Qualifying Tenant” under the 1993 Act. You are a Qualifying Tenant if:

1. You are the tenant of a residential flat.

2. You are not a business tenant.

3. The original term of your lease was longer than 21 years or contains an explicit right for perpetual renewal; and

4. You have been the owner of the lease for at least two years.

You have the right to claim a lease extension from your landlord if:

1. Your immediate landlord is the freeholder of the property if your immediate landlord is a leaseholder the question of an extension will depend on the length of the term your landlord has left on his lease; and

2. Your landlord is not a charitable housing trust.

NOTE: There are other leases which may qualify for renewal. If you are unclear please seek professional legal advice.

After meeting the qualification guidlines the next big question is:

What will it cost?

You will need to pay a premium for the lease extension. The price is the cumulative total of the following:

1. The diminution of the value of the landlords interest in the flat.

2. 50 of the marriage value of the existing lease term and the additional 90 year lease; and

3. The compensation for loss in clause of other property owned by the landlord.

The date on which the tenant applies for a lease extension will be the date of valuation.

In addition to paying you own legal fees you will also be required to pay the landlords legal fees and the costs of the valuation.

Some other very popular questions that have been asked on lease hold are:

What happens if I want to buy a leasehold flat and I want to extend the lease?

As you need to have owned the lease for at least two years you will not be able to extend the lease after you have acquired it. Therefore it is common practice for the seller of the leasehold to make an application to extend the lease and then assign the benefit of the application to you as purchaser.

What lease will I be granted?

You have the right to be granted a lease of 90 years plus the present unexpired term from the expiry date of your current lease. The rent will be a peppercorn i.e. rent free. The lease will be broadly on the same terms as your existing lease but may be subject to amendment depending on any modifications exclusions and/or additions to the demised premises.

It is worth noting that the landlord will retain a redevelopment right at the end of the existing term of the lease. The landlord will have to pay the full value of the remaining 90 year lease to you and the termination is subject to a court application by the landlord.

What is the procedure?

As a Qualifying Tenant your solicitors will serve a preliminary notice to obtain information from your landlord. Your solicitors will then serve the notice of claim which will state:

1. Details of the property.

2. Details of the lease showing that you are a Qualifying Tenant;

3. Details of the premium offered; and

4. A date for the landlords counternotice.

The landlord should then respond and will probably require payment of a deposit equal to 10 of the premium offered.

The landlord will value the premises and serve a counternotice which will state whether they object to the claim.

If the parties cannot come to an agreement they can apply for the Leasehold Valuation Tribunal to determine the claim.

This article is free to republish provided the authors resource box below remains intact.

About the writer:  Robert Johnson is part of Healys who specialise as a London Coveyancing Solicitor and who also aids the Brighton Conveyancing Solicitor office.

Learn About The Different The Italian Real Estate Source Features

Review of The Italy Real Estate Market

Whether you are an Avid Real Estate Investor looking to diversify your assets or a retiree looking for your summer dream home the Italian Real Estate source came in existence to help you do just that. When trying to purchase International Real Estate on your own there’s a good chance you can hit some land mines. There are lots of predators out there looking to prey on wealthy investors. Going with an established company from the start can save you a great deal of time and money. So whatever you do make sure you do your proper research before you make any sudden moves or it could be a very costly mistake.

If you are in a predicament where you want to belabor relocating to Italy you’ll understand that there are a myriad of different services that can guide you when you are looking for Real Estate In Italy and you’ll understand that the Italian Real Estate Source is one of the most advantageous services for you to take a glance at. When you want to Buy Real Estate In Italy make absolutely certain that you are not going to be cheated and when you are looking forward to acquiring a spectacular piece of real estate in a different domicile you may understand that this is the noteworthy option for you. This program can guide you whether you’re looking for an Italian Property in a big city or just looking for Real Estate In Little Towns In Italy.

Assistance With Real Estate Purchases In Italy

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When you are looking to buy Real Estate In Florence Italy Real Estate In Latina Italy or Real Estate In Northern Italy you will soon understand that there are a myriad of individuals who are looking to take advantage of you and your assets ranging from Real Estate Agents who are looking to guide you with passports and immigration to individuals who want to help you figure out what you are doing when it comes to looking for the right piece of property for you. When you want to make absolutely certain that you acquire a luxurious piece of real estate and not break the lending institution in the process you’ll understand that the Italian Real Estate Source can guide you.

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Some people who are less cautious might see their investment withering in front of their eyes and you’ll find that when you are looking to make sure that the home that you purchase in Italy matches your ideals and your hopes that you need to be careful! You’ll soon see that taking a look at the Italian Real Estate Source can help you make a final decision that will eventually put you in the house of your dreams after some research.

About the writer:  Freelance writer parttime photographer and editor.

Landscaping Like You Love The Earth

It is just a little bit ironic that landscaping the practice of caring for and arranging the earth and growing things in a certain area can potentially be one of the worst things for adding toxic pollution to the ground. With the abundance of chemical fertilizers herbicides pesticides and similar products that are being spread on lawns parks and gardens around the country it’s almost enough to have them designated as toxic waste dumping sites. Further water use in the average city can rise as much as 50 percent when people start watering their lawns and gardens in the summer making resource use another negative environmental impact of landscaping. Fortunately this isn’t necessary and there are a lot of ways to garden and landscape safely in ways that will promote health instead of increasing the chances of illness.

Using native plants for landscaping can dramatically reduce the amount of water and poisons used in your yard. Native plants are those that would naturally grow wild in the area. In recent years their popularity in waterwise gardens has been increasing. Many commercial greenhouses now sell a wide variety of regional species as an option for gardeners and landscapers. Because these species grow wild here they are acclimatized to the natural weather cycle and therefore rarely need more water than natural rainfall will provide. Growing native plants save you money and maintenance timethink lower water bills and no lawnmowing.

A yard full of native plants will also require no herbicides or pesticides as they are naturally able to thrive in the area. Another irony of landscaping is the chain of impact that these poisons can have upon an ecosystem. Most bugs have a predator bug but pesticides kill them all. Take the example of aphids and ladybugs. Aphids are a sapsucking little bug that will congregate on plants literally sucking the life out of them. Ladybugs love to eat aphids but you won’t find ladybugs in pesticidetreated gardens so they will never have a chance to do their job. Further aphids tend to prey on the weakest plants so nonnative species that are struggling to survive are likely to be struck the hardest. By foregoing the pesticides and growing local plant varieties you may find that nature strikes a balance and the ladybugs keep the aphids in check. If not you can buy ladybugs at many garden centers and release them into your yard. As ladybugs are a harmless species local to just about everywhere this is a win/win situation.

Reducing or eliminating the poisons will attract wildlife such as birds bugs and butterflies. In the example above you can see how attracting bugs isn’t always a bad thing. In a healthy garden the “good” and “bad” bugs should strike a healthy balance making intervention rarely necessary. If you do notice a pest problem hurting a specific plant or variety of plants consider removing it/them and replacing it with something healthier instead of spraying the bug.

Many green gardening enthusiasts also recommend using a slow release fertilizer. This avoids quick growth spurts that will require more maintenance. Instead of choosing manmade chemical fertilizers choose one of the natural fertilizers. While spreading manure in your yard may seem unappealing the aged manure sold in stores is far more dirtlike than what we might imagine manure as being. There are also liquid fertilizers made of worm “castings” that are quite potent. Finally consider starting your own compost. Compost containers available from gardening stores and even some municipalities are designed to increase decomposition which means you will get a nutrient rich soil from your kitchen scraps within the year. Use this soil in your garden and the earth plants bugs bees birds et. al. will thank you.

About the writer:   Branden Schroeder is Maryland’s first “EcoBroker” designated real estate agent. To search for Severna Park real estate or for more information on Maryland Real Estate and Property visit Branden online at MarylandHomesAndProperty.com.