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Hello and thank you for your question. I will be very pleased to assist you. I'm a practicing lawyer in England with over 10 years experience.
May I ask roughly whereabouts you live please - near which major town or city?
Is this possible and can you suggest a solicitor who can help?
Thanks. What is the present position - do you own a freehold of a building and wish to split it into leasehold flats?
I own a house which I am renting out. The house we wish to lease for a 10 year period belongs to a friend who is moving aboard for good. As property is not selling too good at the moment and he doesn't need the money he is quite happy for us to lease for long term i.e. 10 years with an option to purchase in that period for the price that it is on the market for now.
Thanks. is the property mortgaged?
No the property is owned outright
Thanks. Finally this is perhaps obvious but presumably you are aware that providing rent is paid, it would be many years before you could recover possession potentially. You are content with this?
Thanks. Based on what you say you will require a common law tenancy which is registerable as it is more than 7 years in length. There is a danger stamp duty may be chargeable under the same which you need to be careful of. What rent do you envisage?
I will be paying £1,000 per month
Thanks. Would you bear with me for a few moments while I perform the calculation.
OK the net value is under the SDLT threshold on the above figures so SDLT is not an issue.
With your permission I will give you some contacts for solicitors that should be able to assist with this. May I proceed?
Certainly. Just a moment if you would....
Hi sorry I didn't see your reply, just scrolled down.
Please solicitors name would be great
Naptherns 01253 622 305 should be able to assist with this as should...
Lynda Myers 0844(NNN) NNN-NNNN/p>
Thanks that is great I will give them a call
If you find that neither of the above will act for you please let me know and I will give you some further details a little further afield who will be able to assist.
If you have no further questions for now I should be very grateful if you would kindly take a moment to rate my service to you today. Your feedback is important to me. If there is anything else I can help with though please reply back to me though.
Will do and thank you