Our god-son is buying a new build apartment in Hartlepool with a mortgage from UBS. His lawyer 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 involved 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 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 UBS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Should commercial conveyancing searches disclose planned roadworks that may impact a commercial property in Hartlepool?
Its becoming the norm that commercial conveyancing solicitors in Hartlepool will execute a SiteSolutions Highways report as it dramatically cuts the time that conveyancers invest in researching accurate data on highways that impact buildings and development assets in Hartlepool. The search result sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Hartlepool.
For every commercial conveyancing transaction in Hartlepool it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately can result in delays to Hartlepool commercial conveyancing transactions as well as present a risk to future intentions for the site. These searches are not carried out for domestic conveyancing in Hartlepool.
4 months have elapsed following my purchase conveyancing in Hartlepool concluded. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am looking for a flat up to £245,000 and identified one close by in Hartlepool I like with open areas and railway links nearby, the downside is that it's only got 61 years on the lease. There is not much else in Hartlepool for this price, so just wondered if I would be making a mistake acquiring a short lease?
Should you require a mortgage the remaining unexpired lease term will likely be an issue. Discount the offer by the amount the 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 could ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.
I am thinking of appointing a conveyancing lawyer in Hartlepool for my house move. Can I check a firm’s record with the legal regulator?
One can review presented Solicitor Regulator Association (SRA) decisions arising from inquisitions from 2008 onwards. Go to Check a solicitor's record. For records about the period before 1 January 2008, or to check a solicitors record, ring 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For non-uk callers, use +44 (0)121 329 6800. The regulator may recorded call for training purposes.
Planning to complete next month on a basement flat in Hartlepool. Conveyancing solicitors inform me that they report fully next week. What should I be looking out for?
Your report on title for your leasehold conveyancing in Hartlepool should include some of the following:
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The physical extent of the premises. This might be the property itself but could also include a attic or basement if applicable. Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice? What you can do if a neighbour breaches a clause of their lease? Details of the parties to the lease, e.g. these could be the lessee, head lessor, landlord The length of the lease term. You should receive guidance as what happens when the lease expires, and aware of the importance of the 80 year mark
I own a 1st floor flat in Hartlepool, conveyancing formalities finalised May 2010. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Hartlepool with over 90 years remaining are worth £255,000. The ground rent is £45 levied per year. The lease finishes on 21st October 2098
With only 73 years unexpired we estimate the premium for your lease extension to range between £8,600 and £9,800 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.