Our god-son is about to exchange on a house that has just been built in Brook Green with a mortgage from RBS. His conveyancer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The document is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the RBS conveyancing panel as a standard part of the process, and to the surveyor 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 RBS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
What does my ID and proof of funds have anything to do with my conveyancing in Brook Green? What am I being asked for?
In order to comply with Money Laundering Regulations any Brook Green conveyancing firm will require evidence of your identity in all conveyancing transactions. This is usually dealt with by provision of a passport and an original bank statement or utility account evidencing where you reside.
Under Money Laundering Regulations, conveyancers are obliged by law to validate not simply the ID of conveyancing clients but also the source of the money that they receive in respect of any matter. An unwillingness to disclose this may result in your solicitor cancelling their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your conveyancers are duty bound to make a disclosure to the appropriate authorities should they believe that any monies received by them may contravene the Money Laundering Regulations.
We are selling our house in Brook Green and according to the buyers it appears that there is a risk of it being constructed on contaminated land. A high street Brook Green conveyancer would know that there is no such problem. It does beg the question why the purchasers are using an internet conveyancing practice rather than a conveyancing solicitor in Brook Green. Having lived in Brook Green for three years we know of no issue. Is it a good idea to get in touch with our local Authority to get clarification need.
It would appear that you have a conveyancing lawyer already. Are they able to advise? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
Over the last few months I have been searching for a flat up to £235,500 and found one close by in Brook Green I like with a park and transport links in the vicinity, however it's only got 51 years unexpired on the lease. There is not much else in Brook Green in this price bracket, so just wondered if I would be making a grave error acquiring a short lease?
If you require a home loan the remaining unexpired lease term may be problematic. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of twenty four months you may request that they start the process of the extension and pass 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 speak to your conveyancing solicitor about this.
Taking into account that I will soon part with £400,000 on 3 bedroom house in Brook Green I wish to talk to a solicitor concerning thehouse move in advance of appointing the firm. Is this something that you can arrange?
Absolutely - it is our preference to talk to you we do not take any clients on without you first talking to the lawyer due to be doing your property ownership legalities in Brook Green.There is no ‘factory style conveyancing’ - each client is an important person, not a file reference. The solicitors that we put you in touch with believe that the figure you are quoted for residential conveyancing in Brook Green should be the amount on the final invoice that you are charged.
I've recently bought a leasehold flat in Brook Green. Am I liable to pay service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I am the leaseholder of a ground floor flat in Brook Green. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the sum due for a lease extension?
Absolutely. We can put you in touch with a Brook Green conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Brook Green flat is 83 Sinclair Road in September 2010. The decision of the Tribunal was that the price to be paid by the Applicant to the Respondent for the freehold interest in the Property was the sum of £93,650 This case affected 4 flats. The unexpired residue of the current lease was 70.58 years.