I've recently found out that there is a flying freehold issue on a property I have offered on two weeks back in what should have been a quick, chain free conveyancing. Kingsland is where the house is located. Can you shed any light on this issue?
Flying freeholds in Kingsland are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Kingsland you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Kingsland may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
In what way does the Landlord & Tenant Act 1954 affect my commercial offices in Kingsland and how can you help?
The particular law that you refer to gives protection to business leaseholders, giving them the legal entitlement to make a request to court for a continuation of occupancy when the lease reaches an end. There are limited grounds that a landlord can refrain from granting a lease renewal and the rules are complex. Fees are different for commercial conveyancing. Kingsland is one of the numerous locations in which our lawyers have offices
Am I better off to choose a Kingsland conveyancing solicitor based in the vicinity that I am purchasing? We have a good friend who can carry out the legal formalities but her office is over three hundred kilometers away.
The benefit of a local Kingsland conveyancing firm is that you can attend the office to sign documents, present your identification documents and pester them if necessary. They will also have local knowledge which is a benefit. That being said nothing is more important than finding someone that will pull out all the stops for you. If if people you trust instructed your friend and they were impressed that must outweigh using an unknown Kingsland conveyancing solicitor just because they are local.
After months of dialogue we cannot agree with our landlord on how much the lease extension should cost for our flat in Kingsland. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
You certainly can. We are happy to put you in touch with a Kingsland conveyancing firm who can help.
An example of a Lease Extension decision for a Kingsland premises is 5C Stoke Newington Road in April 2010. the Tribunal therefore concludes that the premium to be paid for the extended lease is £700.00 This case related to 1 flat. The number of years remaining on the existing lease(s) was 80.5 years.
What are the frequently found defects that you witness in leases for Kingsland properties?
Leasehold conveyancing in Kingsland is not unique. Most leases are unique and drafting errors can result in certain provisions are missing. The following missing provisions could result in a defective lease:
Insurance obligations A provision for the recovery of money spent for the benefit of another party.
You could encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, Chelsea Building Society, and Bank of Ireland all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, forcing the buyer to withdraw.
I purchased a house in Kingsland last 23/4/2018 and to date it is still not registered with the Land Registry. It is part of a development site and my conveyancing practitioner told me that it can take twelve months to complete the registration formalities. I have contacted HM Land Registry directly and they say that the initial application was cancelled due to questions not being addressed in time. What can I do?
It is your conveyancer that you should get in touch with in order to satisfy any concerns which have been raised as part of the registration process for your Kingsland property. Normal Kingsland conveyancing practice includes an undertaking on the part of the seller's conveyancer that they will assist in resolving any requisition raised by HMLR so it may be a case of seeking to enforce that undertaking if necessary.