My grandson is about to exchange on a newly built flat in Edgware with a home loan from Barclays. His conveyancer has said that there is a delay in completing 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 involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Barclays 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 Barclays conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I have recentlyfound out that Wolstenholmes have closed. They conducted my conveyancing in Edgware for a purchase of a leasehold flat 12 months ago. How can I be sure that my home is in my name in the name of the previous owner?
The easiest method to check if the premises is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Edgware conveyancing specialists.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on two weeks back in what should have been a straight forward, chain free conveyancing. Edgware is where the house is located. What do you suggest?
Flying freeholds in Edgware are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Edgware you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Edgware may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
How easy is it to switch conveyancer as I have to retain a firm on the The Mortgage Works conveyancing list. I had appointed a local conveyancing solicitor in Edgware five minutes from me but the firm is not approved by The Mortgage Works
We will our best to assist in finding you a conveyancing solicitor in Edgware on the The Mortgage Works panel. Please note that the solicitors that we list do not pay us a referral fee if you instruct them and are authorised and regulated by the Solicitors Regulation Authority who regulate all conveyancing solicitors in Edgware. In utilising the find a conveyancing solicitor tool on this website, you can compare and instruct different solicitors and conveyancers both nationally and in Edgware.
I've recently bought a leasehold property in Edgware. Am I liable to pay service charges for periods before my ownership?
Where the service charge has already been demanded from the previous owner 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. It is an essential part 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 proprietor of a ground floor flat in Edgware. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the sum payable for the purchase of the freehold?
in cases where there is a missing landlord 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 LVT to make a decision on the price payable.
An example of a Lease Extension matter before the tribunal for a Edgware residence is Ground Floor Maisonette 17 Milton Road in January 2014. The Tribunal determined the premium payable by the Applicant to the should be £13,299 This case was in relation to 1 flat. The unexpired lease term was 71.73 years.
My step-son is just in the process of moving house, he had his mortgage in principle. When the seller agreed the offer on the flat we rang the bank to progress the mortgage application. I was disappointed to hear that mortgage companies do not accept all conveyancing practitioner, they must be on their panel, is this correct?
Lenders ordinarily imposes restrictions either the type or the number of conveyancing practices on their panel. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that lenders have no responsibility for the quality of advice provided by any Edgware property lawyer on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Probably not.