Are there restrictive covenants that are commonly picked up as part of conveyancing in Pembroke Dock?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Pembroke Dock. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am looking for a flat up to £195,000 and identified one close by in Pembroke Dock I like with open areas and railway links in the vicinity, the downside is that it's only got 61 years unexpired on the lease. I can't really find anything else in Pembroke Dock for this price, so just wondered if I would be making a grave error buying a short lease?
If you need a mortgage the remaining unexpired lease term will likely be an issue. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of twenty four months you could request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.
In what way can the Landlord & Tenant Act 1954 impact my business offices in Pembroke Dock and how can your lawyers assist?
The 1954 Act provides protection to business tenants, granting the dueness to apply to court for a continuation of occupancy when the lease reaches an end. There are limited grounds where a landlord can refuse a lease renewal and the rules are involved. Fees are different for commercial conveyancing. Pembroke Dock is one of the many locations in which our lawyers are located