My son is about to exchange on a house that has just been built in Blackburn with a home loan from TSB. His conveyancer has advised him of a delay in completing the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The document is intended to provide information to the main parties engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the TSB conveyancing panel as a standard part of the process, and to the valuer when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the TSB conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I purchased a freehold residence in Blackburn yet pay rent, why is this and what is this?
It is rare for properties in Blackburn and has limited impact for conveyancing in Blackburn but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the creation of fresh rentcharges post 1977.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
Various online forums that I have come across warn that are a common reason for delay in Blackburn house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published determinations of research by MoveWithUs that conveyancing searches do not feature within the most frequent causes of delays in the conveyancing process. Searches are not likely to feature in any holding up conveyancing in Blackburn.
About to purchase a new build apartment in Blackburn. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below is a sample of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Blackburn
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Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Please supply a car parking plan. Please supply evidence that the form of Lease proposed has been approved by the Land Registry.
I'm refinancing my existing house to a buy to let mortgage with The Royal Bank of Scotland and I will use the rest of the raised equity as a down payment on another property. The area we are interested in is Blackburn. Will your solicitors be able to act for both sets of lenders and link together the two deals?
Make use of our search tool on this page to be sure that the lawyers are on the relevant lender panels. Assuming that they are your solicitor will be able to connect the two conveyancing matters but you should have a chat with you solicitor and make apparent your expectations and needs.
I am intending to let out my leasehold flat in Blackburn. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Some leases for properties in Blackburn do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to see references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.
Leasehold Conveyancing in Blackburn - Sample of Questions you should consider before Purchasing
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Plenty Blackburn leasehold flats will incur a service bill for maintenance of the building set on behalf of the landlord. If you acquire the property you will have to pay this charge, usually in instalments accross the year. This can vary from several hundred pounds to thousands of pounds for blocks with lifts and large common grounds. In all probability there will be a rentcharge for you to pay yearly, this is usually not a exorbitant sum, say about £25-£75 but you should to check it because occasionally it could be many hundreds of pounds. Is there a share of the freehold? Best to be warned if fixing the lift or some other significant cost is due shortly to be shared amongst the leaseholders and will dramatically impact the level of the service costs or result in a one off payment.