My grandson is purchasing a new build apartment in East Beckton with a mortgage from Santander. His conveyancer has said that there is 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 Santander 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 Santander conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
We note that you have a post code search directory identifying firms on the Nottingham conveyancing panel. Do companies pay you a commission if I instruct them for our own conveyancing in East Beckton?
We are a listing service only for law firms wishing to communicate if they are on the Nottingham conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in East Beckton.
Various internet forums that I have visited warn that are a common cause of hinderance in East Beckton house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) released conclusions of research by MoveWithUs that conveyancing searches do not figure amongst the most frequent causes of delays during the legal transfer of property. Local searches are not likely to feature in any delay in conveyancing in East Beckton.
How does conveyancing in East Beckton differ for new build properties?
Most buyers of new build residence in East Beckton approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is completed. This is because developers in East Beckton typically purchase 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 property lawyers 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 East Beckton or who has acted in the same development.
I am a negotiator for a reputable estate agent office in East Beckton where we have experienced a number of leasehold sales jeopardised due to leases having less than 80 years remaining. I have been given contradictory information from local East Beckton conveyancing solicitors. Please can you shed some light as to whether the seller of a flat can start the lease extension formalities for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I have tried to negotiate informally with with my landlord for a lease extension without any joy. Can I apply to the Leasehold Valuation Tribunal? Can you recommend a East Beckton conveyancing firm to represent me?
if there is a absentee freeholder or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to judgment on the amount due.
An example of a Lease Extension case for a East Beckton flat is 46 Credon Road in January 2014. On 11 September 2013 Deputy District Judge Price sitting at the Bow County Court made a vesting order that the freeholder surrender his lease and be granted a new lease of the Premises on such terms as may be determined by the First Tier Tribunal (Property Chamber).The appropriate sum as concluded by the Tribunal was £7225 This case affected 1 flat. The remaining number of years on the lease was 69.77 years.
I purchased a house in East Beckton last 26/4/2024 and to date it is still not registered with the Land Registry. It was part of a development site and my lawyer told me that it may take twelve months to register. I have spoken with HM Land Registry directly and they say that the original application was cancelled due to questions not being addressed in time. Do I need to be concerned?
It is your solicitor that you should contact in order to satisfy any concerns which have been raised as part of the registration process for your East Beckton property. Normal East Beckton conveyancing practice includes an undertaking on the part of the previous owner’s property lawyer that they will assist in resolving any question raised by HMLR so it may be a case of seeking to enforce that undertaking if necessary.