Is there a reason why leasehold purchase conveyancing in North East London is more expensive?
North East London leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
My relative suggested that if I am purchasing in North East London I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is usually included in the estimate for your North East London conveyancing searches. It is a large document of about 40 pages, listing and setting out important information about North East London around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the North East London Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, North East London Education with maps and statistics, Local Amenities and other useful information about North East London.
three months have gone by following my purchase conveyancing in North East London took place. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Due to the encouragement of my in-laws I had a survey completed on a property in North East London before instructing solicitors. I have been told that there is a flying freehold overhang to the property. The surveyor advised that some mortgage companies may not grant a loan on this type of premises.
It varies from the lender to lender. Santander has different requirements for example to Nationwide. If you contact us we can look into this further via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in North East London. Conveyancing will be smoother if you use a solicitor in North East London especially if they are accustomed to such properties in North East London.
How does the Landlord & Tenant Act 1954 impact my commercial property in North East London and how can your lawyers assist?
The particular law that you refer to provides a safeguard to commercial leaseholders, giving them the dueness to apply to court for a new tenancy and continue in occupation when the lease comes to an end. There are certain specified grounds that a landlord can refrain from granting a lease renewal and the rules are involved. Fees are different for commercial conveyancing. North East London is one of our hundreds of areas of the UK in which the firms we work with are based