Our god-son is buying a newly built flat in Hurstpierpoint with a mortgage from Aldermore. His conveyancer has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. Who needs to receive the form?
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 Aldermore 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 Aldermore conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I am close to exchanging contracts on the sale of our home in Hurstpierpoint and according to the buyers it appears that there is a possibility that the property was constructed land that was not decontaminated. Any high street Hurstpierpoint lawyer would know that there is no such problem. It does beg the question why the purchasers are using a national conveyancing practice rather than a conveyancing solicitor in Hurstpierpoint. Having lived in Hurstpierpoint for three years we know of no issue. Should we contact our local Authority to obtain clarification that the buyers are looking for.
It sounds as though you may have a conveyancing lawyer already. Are they able to advise? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
How does conveyancing in Hurstpierpoint differ for new build properties?
Most buyers of new build or newly converted property in Hurstpierpoint come to us having been asked by the developer to exchange contracts and commit to the purchase even before the property is constructed. This is because builders in Hurstpierpoint tend to buy 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 used to new build conveyancing in Hurstpierpoint or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a property I have offered on a fortnight ago in what should have been a simple, chain free conveyancing. Hurstpierpoint is where the house is located. What do you suggest?
Flying freeholds in Hurstpierpoint are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Hurstpierpoint you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Hurstpierpoint may decide 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.
I am thinking of appointing a conveyancing solicitor in Hurstpierpoint for my home move. Is it possible to review a solicitor's complaints history with the profession’s regulator?
Members of the public can read presented Solicitor Regulator Association (SRA) decisions stemming from investigations started on or after 1 January 2008. Visit Check a solicitor's record. For information Pre 2008, or to check a firm's record, phone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For non-uk callers, call +44 (0)121 329 6800. The regulator could monitor call for training requirements.
I am hoping to put an offer on a small detached house that appears to meet my requirements, at a reasonable figure which is making it all the more appealing. I have just found out that it's a leasehold as opposed to freehold. I would have thought that there are issues purchasing a leasehold house in Hurstpierpoint. Conveyancing solicitors have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Hurstpierpoint ?
Most houses in Hurstpierpoint are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area who can assist with the conveyancing process. We note that you are buying in Hurstpierpoint in which case you should be shopping around for a Hurstpierpoint conveyancing practitioner and be sure that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example requiring the freeholder’sconsent to conduct alterations. It may be necessary to pay a service charge towards the upkeep of the estate where the property is part of an estate. Your solicitor should appraise you on the various issues.
I bought a 1 bedroom flat in Hurstpierpoint, conveyancing was carried out half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Hurstpierpoint with a long lease are worth £192,000. The ground rent is £55 levied per year. The lease ends on 21st October 2079
You have 54 years remaining on your lease we estimate the premium for your lease extension to be between £32,300 and £37,400 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.