Here we provide regular updates about interesting legal opinions and decisions in addition to news about developments within our firm.
Did you know that in most cases tenant's of residential long leases in converted or purpose built blocks of flats have the right by law to extend the term of the lease, set up a management company and take over the management of the block or even acquire the freehold interest from the landlord? The process is not as complicated as you may think and if you are unhappy with the way your block has been run and managed by your landlord or if you simply wish to extend your lease term then please contact us.
Making a Will
It is estimated that the majority of the adult population have not made a Will and if you care about your loved ones and the destination of your property and assets after your death you should really consider making a Will as soon as possible. A simple basic Will can cost as little as £100 plus VAT. A small price to pay to ensure peace of mind and the avoidance of a dispute among your family members.
Collect your Debts
You can sue an individual or a company for a debt, for example, fairly easily in the small claims court by using the Money Claim Online website set up by HM Courts & Tribunal Service. Full details can be found at www.moneyclaim.gov.uk/web/mcol/welcome
A commercial tenant is entitled to statutory compensation from a landlord where a landlord opposes the renewal of the lease on the following grounds only: subletting of part; landlord intends to redelop/demolish; landlord intends to occupy. Compensation is assessed at 1x the rateable value of the property or, where the tenant has been in occupation for 14 years or more, at 2x the rateable value. Compensation becomes due on the tenant quitting premises. Leases often include clauses excluding the right to compensation but such a clause will not be effective if the tenant has been in occupation of the premises for the last 5 years up to the date of quitting.
Stamp Duty Land Tax on Second Properties
The link to HMRC is https://www.gov.uk/government/consultations/consultation-on-higher-rates-of-stamp-duty-land-tax-sdlt-on-purchases-of-additional-residential-properties/higher-rates-of-stamp-duty-land-tax-sdlt-on-purchases-of-additional-residential-properties
Property Fraud Alert
The Land Registry has a free service to monitor any unknown or unauthorised activity on a property registered with them. For further details please refer to https://propertyalert.landregistry.gov.uk/
Law Society Guidance
The Law Society has produced a number of very usueful leaflets covering the areas of work that we offer. Please feel free to download them.
21 April 2017
News a hike in probate fees is to be ditched by the government was today welcomed by the Law Society of England and Wales.
Law Society president Robert Bourns said: "This proposal would have affected 42% of estates and would have put pressure on families when they have just suffered a bereavement, so we are glad it is no longer going forward."
The proposal, which surfaced in the recent spring budget, would have hiked probate fees from a current flat fee of £215 (or £155 if done by a solicitor) to a sliding scale between £300 and £20,000 based on the value of the estate.
The Law Society was among the 97% of respondents to the consultation who argued against the proposed increases, suggesting instead that a much more moderate and stepped increase was appropriate.
Please note there have been several recent instances of criminals intercepting the emails of either the solicitor or the client and posing as either the solicitor or the client in order to give details of a change of bank account details with a direction to pay funds into that new account. This is a FRAUD which has resulted in the loss of thousands of pounds for clients. As a precaution, Raymond & Co would inform clients that we have no plans to change the firms' bank account details. Even if we did we would not communicate the details by email. Instead, a member of staff would either inform clients on the telephone or write to you in person. Similarly, if we were to receive an email a client about a change of bank details we would telephone you to verify the details.
New online access
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Raymond & Co
Suite 1H Leroy House
436 Essex Road
London N1 3QP
Tel: +44 20 73590422
Fax: +44 20 73598342
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New online access
You can now find comprehensive information about all of our services and expertise on our new website.