Our son is buying a new build apartment in Exminster with a home loan from Coventry BS. 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 form 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 Coventry BS 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 Coventry BS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
We see that you have a search directory identifying firms on the UBS conveyancing panel. Do companies pay you a commission if I appoint them for our conveyancing in Exminster?
We are a listing service only for law firms wishing to communicate if they are on the UBS conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Exminster.
Me and my brother purchased a semi-detached Victorian property in Exminster. Conveyancing lawyer acted for me and Bank of Ireland. I did a free Land Registry search last week and there are a couple of entries: the first freehold, another for leasehold under the matching property. I'd like to know for sure, how can I find out??
You need to review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Exminster and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the position with your conveyancing practitioner who completed the work.
Over the last few months I have been searching for a leasehold apartment up to £305k and identified one near me in Exminster I like with amenity areas and railway links nearby, the downside is that it's only got 51 years unexpired on the lease. I can't really find anything else in Exminster suitable, so just wondered if I would be making a mistake purchasing a short lease?
If you need a home loan the remaining unexpired lease term will be a potential deal breaker. Discount the price by the expected lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of 2 years you may ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should consult your conveyancing solicitor about this.
How can the Landlord & Tenant Act 1954 impact my commercial property in Exminster and how can your lawyers assist?
The 1954 Act gives protection to business tenants, granting the dueness to make a request to court for a new tenancy and remain in occupation at the end of the lease term. There are limited grounds that a landlord can refuse a lease renewal and the rules are complicated. Fees are different for commercial conveyancing. Exminster is one of our hundreds of locations in which the firms we work with are based
I am buying a leasehold apartment in Exminster. Conveyancing quotes are coming in at around £two thousand. Is that reasonable?
The average cost last year for conveyancing in Exminster was £1,419 not including Stamp Duty and HM Land Registry charges.