Our god-son is in the process of securing a newly built flat in Coulsdon with a home loan from UBS. His conveyancer has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
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 UBS conveyancing panel as a standard part of the process, and to the valuer when requested. 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 UBS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I own a freehold premises in Coulsdon but still charged rent, why is this and what is this?
It’s unusual for properties in Coulsdon and has limited impact for conveyancing in Coulsdon 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 date back hundreds of years, but the Rent Charge Act 1977 barred the generation of fresh rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
After looking at moneysavingexpert.com for an affordable solicitor in Coulsdon, many comment that I should use a CQS assured solicitor. Can you explain what CQS is?
The Conveyancing Quality Scheme (CQS) provides a kitemark for residential conveyancing practices issued by the Law Society. Membership achievement establishes a level of credibility for member firms with stakeholders (regulators, lenders, insurers and consumers) based upon: * the integrity of the senior responsible officer and other key conveyancing staff * the firm's adherence to good practice management standards * compliance with best practice conveyancing processes through the scheme protocol the standard includes numerous partnerships who execute conveyancing in Coulsdon.
How does conveyancing in Coulsdon differ for newly converted properties?
Most buyers of new build premises in Coulsdon come to us having been asked by the developer to sign contracts and commit to the purchase even before the premises is ready to move into. This is because builders in Coulsdon usually buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Coulsdon or who has acted in the same development.
Hoping to buy a property located in Coulsdon and I am already nervous. I couldn't find anything specific about Coulsdon. Conveyancing will be needed in due course but do you know about the Coulsdon area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Coulsdon. In the meantime here are some basic statistics that we found
What are your top tips when it comes to finding a Coulsdon conveyancing firm to deal with our lease extension?
If you are instructing a property lawyer for lease extension works (regardless if they are a Coulsdon conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We suggest that you speak with several firms including non Coulsdon conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions could be useful:
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How experienced is the practice with lease extension legislation? What are the charges for lease extension work?
Having spent months of correspondence we are unable to agree with our landlord on how much the lease extension should cost for our flat in Coulsdon. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
in cases where there is a missing freeholder or if there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to assess the price payable.
An example of a Freehold Enfranchisement case for a Coulsdon premises is 223 Brighton Road in September 2013. The premium payable for the acquisition freehold of the properties should be £10,934 (Ten thousand,nine hundred and thirty four pounds) This case affected 3 flats. The unexpired term as at the valuation date was 75 years.