My wife and I have a 4 bedroom Victorian property in Canning Town. Conveyancing practitioner represented me and Barnsley Building Society. I did a free Land Registry search last week and there are a couple of entries: one for freehold, another for leasehold under the matching address. I'd like to know for sure, how can I find out??
You should assess 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 owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Canning Town and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the situation with the conveyancing lawyer who conducted the work.
I am buying a new build house in Canning Town with the aid of help to buy. The sellers would not budge the price so I negotiated £7000 of extras instead. The property agent suggested that I not disclose to my conveyancer about this deal as it will adversely affect my mortgage with Santander. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I am looking for a ground for flat up to £245,000 and found one close by in Canning Town I like with amenity areas and railway links nearby, however it only has 49 years on the lease. There is not much else in Canning Town for this price, so just wondered if I would be making a mistake buying a short lease?
If you need a home loan the remaining unexpired lease term may be a potential deal breaker. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least twenty four months you may ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor about this.
I need to retain a conveyancing solicitor for sale conveyancing in Canning Town. I have chance upon a site which appears to be the perfect answer If there is a chance to get all formalities completed via web that would be preferable. Should I be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I am looking at a couple of maisonettes in Canning Town both have about 50 years unexpired on the leases. Will this present a problem?
A lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease shortens the marketability of the lease decreases and results in it becoming more costly to extend the lease. This is why it is generally wise to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease because mortgage lenders may be unwilling to lend money on properties of this type. Lease extension can be a protracted process. We advise that you seek professional help from a conveyancer and surveyor with experience in this area.
I inherited a second floor flat in Canning Town. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the sum payable for a lease extension?
Absolutely. We can put you in touch with a Canning Town conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Canning Town residence is 46 Credon Road in January 2014. On 11 September 2013 Deputy District Judge Price sitting at the Bow County Court made a vesting order that the freeholder surrender his lease and be granted a new lease of the Premises on such terms as may be determined by the First Tier Tribunal (Property Chamber).The appropriate sum as concluded by the Tribunal was £7225 This case affected 1 flat. The unexpired lease term was 69.77 years.
We yesterday found out that one of the directors of the law firm acting on the purchase conveyancing in Canning Town is is the mother of the vendor. Is this acceptable?
As long as no conflict arises this is permitted. If you are needing a mortgage then the lender may have a say as many mortgage companies have specific instructions concerning this. For example for Royal Bank of Scotland as of 4/7/2020, the requirements read as follows :