My son is about to exchange on a newly built flat in Hampshire with a mortgage from Virgin Money. His lawyer has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
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 Virgin Money 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 Virgin Money conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
A friend pointed out to me me that in buying a property in Hampshire there could be various restrictions limiting what one can do in terms of external alterations to a property. Is this right?
We are aware of a number of properties in Hampshire which have some sort of restriction or requirement of consent to carry out external variations. Part of the conveyancing in Hampshire should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
We expect to receive a AIP from Yorkshire BS this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Yorkshire BS recommend any Hampshire solicitors on the Yorkshire BS conveyancing panel, or is it better to go independently?
You will need to appoint Hampshire solicitors independently although you'll need to choose one on the Yorkshire BS conveyancing panel. The solicitor represents both you and Yorkshire BS through the process.
I am due to exchange contracts on my apartment. I had a double glazing fitted in August 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Nationwide are being difficult. The Hampshire solicitor who is on the Nationwide conveyancing panel is recommending indemnity insurance as a solution but Nationwide are insisting on a building regulation certificate. Why do Nationwide have a conveyancing panel if they don't accept advice from them?
It is probably the case that Nationwide have referred the matter to their valuer. The reason why Nationwide may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I need some expedited conveyancing in Hampshire as I am faced with a deadline to complete inside 2 weeks. A home loan is not required. Can I decline from having conveyancing searches to save fees and time?
If.Given you are are a cash purchaser you have the choice not to have searches conducted although no law firm would advise that you don't. Drawing on our experience of conveyancing in Hampshire the following are instances of issues that can arise and therefore impact market value: Refused Planning Applications, Outstanding Fees, Outstanding Grants, Road Schemes,...
Are there restrictive covenants that are commonly identified as part of conveyancing in Hampshire?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Hampshire. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How do I use your search facility to find a conveyancing practitioner in Hampshire on the authorised to act for my bank?
First pick a mortgage company such as Lloyds TSB Bank, The Mortgage Works or TSB then specify your location such as Hampshire. Conveyancing firms in Hampshire and beyond should be identified.
I have recently realised that I have Seventy years left on my lease in Hampshire. I now want to extend my lease but my freeholder is can not be found. What should I do?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. However, you will be required to prove that you have made all reasonable attempts to track down the freeholder. On the whole an enquiry agent may be useful to conduct investigations and to produce an expert document which can be accepted by the court as evidence that the landlord is indeed missing. It is wise to seek advice from a property lawyer in relation to devolving into the landlord’s absence and the application to the County Court overseeing Hampshire.
I own a ground floor flat in Hampshire, conveyancing formalities finalised half a dozen years ago. Can you work out an approximate cost of a lease extension? Similar flats in Hampshire with an extended lease are worth £197,000. The average or mid-range amount of ground rent is £55 per annum. The lease runs out on 21st October 2080
With only 55 years unexpired we estimate the price of your lease extension to be between £31,400 and £36,200 as well as professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first getting professional advice.