Me and my brother purchased a renovated Georgian property in South Ockendon. Conveyancing lawyer represented me and National Westminster Bank. I did a free Land Registry search last week and I saw a couple of entries: the first freehold, the second leasehold with the matching address. I thought I was buying a freehold how can I check?
You should review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in South Ockendon and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the situation with the conveyancing solicitor who conducted the conveyancing.
I am looking for a leasehold apartment up to £305k and identified one round the corner in South Ockendon I like with open areas and station nearby, the downside is that it only has 61 years on the lease. I can't really find anything else in South Ockendon for this price, so just wondered if I would be making a grave error buying a short lease?
Should you require a mortgage the remaining unexpired lease term may be problematic. Reduce the price by the amount the lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of twenty four months you may ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this.
I have been advised by numerous property agents in South Ockendon to select a property lawyer using your seach tool. Is there a financial inducement for Estate Agents to market your lawyers ahead of a competitor’s?
We refuse to offer any referral fee for directing people our way. We found it would be just too difficult a fee because a client could think, ‘Why is the agent getting a kickback? Why am I not getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
Having had my offer accepted I require leasehold conveyancing in South Ockendon. Before I get started I want to be sure as to the remaining lease term.
If the lease is registered - and 99.9% are in South Ockendon - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I have attempted and failed to negotiate with my landlord to extend my lease without any joy. Can one apply to the Leasehold Valuation Tribunal? Can you recommend a South Ockendon conveyancing firm to help?
Where there is a missing landlord or if there is disagreement about what the lease extension should cost, under the relevant legislation it is possible to make an application to the LVT to assess the amount due.
An example of a Lease Extension decision for a South Ockendon flat is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case related to 1 flat. The remaining number of years on the lease was 57.5 years.
My intention is to acquire a ground floor flat in South Ockendon. Conveyancing lawyer has been waiting for, from the seller, building insurance documents. I was told today I was informed that the owner needs to forward the insurance schedule for the flat above as well. Why does my conveyancing practitioner need to check the insurance for the flat above? Is it really required? We have been waiting for the last month…
It is not impossible in leasehold conveyancing in South Ockendon to discover Conveyancing in South Ockendon in a minority of cases reveals that the lease provides for the tenant's to insure their individual flats rather than the freeholder insuring the entire block - which is clearly better. Do check with your conveyancing practitioner but it would seem that your conveyancing practitioner is looking to establish that the entire building is insured. Insuring your flat is no help when it comes to rebuilding after a fire if the other flat cannot be reconstructed for lack of insurance cover.