Should our lawyer be making enquiries concerning flooding as part of the conveyancing in South Hackney.
Flooding is a growing risk for conveyancers dealing with homes in South Hackney. Plenty of people will acquire a house in South Hackney, fully expectant that at some time, it may be flooded. However, leaving to one side the physical damage, where a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or dispose of the premises. There are steps that can be taken during the course of a property purchase to forewarn the purchaser.
Conveyancers are not qualified to give advice on flood risk, however there are a various searches that can be carried out by the buyer or by their conveyancers which will figure out the risks in South Hackney. The standard information sent to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) incorporates a usual question of the owner to discover if the premises has suffered from flooding. In the event that flooding has previously occurred and is not revealed by the seller, then a buyer may bring a claim for damages stemming from an incorrect answer. A buyer’s lawyers should also commission an environmental report. This should indicate whether there is a recorded flood risk. If so, additional inquiries will need to be conducted.
It has been 4 months following my purchase conveyancing in South Hackney took place. I have checked the Land Registry website which shows that I paid £200,000 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 residence 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.
Over the last few months I have been searching for a ground for flat up to £305k and identified one close by in South Hackney I like with open areas and station in the vicinity, however it's only got 51 years on the lease. I can't really find anything else in South Hackney for this price, so just wondered if I would be making a mistake buying a lease with such few years left?
If you need a mortgage 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 current owner has owned the property for a minimum of 2 years you could request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this matter.
In what way does the Landlord & Tenant Act 1954 impact my business property in South Hackney and how can you help?
The particular law that you refer to affords protection to business lessees, giving them the right to apply to court for a continuation of occupancy when the lease comes to an end. There are limited grounds where a landlord can refrain from granting a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing practices who use the act to your advantage and handle your commercial conveyancing in South Hackney
Am I best advised to use a South Hackney conveyancing solicitor in close proximity to the house I am buying? I have an old university friend who can carry out the legal work but her office is a couple of hundredkilometers drive away.
The primary upside of using a local South Hackney conveyancing practice is that you can visit the firm to sign documents, hand in your ID and pester them where appropriate. They will also have local insight which is a benefit. That being said it's more important to get someone that will pull out all the stops for you. If you know people who used your friend and in the main were content that should trump using an unknown South Hackney conveyancing solicitor just because they are South Hackney based.
If all goes to plan we aim to complete our sale of a £225,000 maisonette in South Hackney in just under a week. The management company has quoted £396 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge such fees for a flat conveyance in South Hackney?
For most leasehold sales in South Hackney conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
Addressing pre-contract enquiries
Where consent is required before sale in South Hackney
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I have had difficulty in trying to purchase the freehold in South Hackney. Can the Leasehold Valuation Tribunal adjudicate on premiums?
You certainly can. We are happy to put you in touch with a South Hackney conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a South Hackney flat is 150 Amhurst Road in December 2013. The tribunal concluded that the premium to be paid by the applicant for the enfranchisement of the subject property was £43,500. This case was in relation to 4 flats. The unexpired lease term was 90 (or thereabouts).