Our son is purchasing a newly built flat in Kings Langley with a mortgage from Skipton. His solicitor 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 transaction. Therefore, it will be provided to your son’s lawyer who should be on the Skipton 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 Skipton conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Various web forums that I have come across warn that are a common reason for delay in Kings Langley house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published conclusions of research by MoveWithUs that conveyancing searches do not figure within the most frequent causes of delays during the legal transfer of property. Searches are unlikely to be the root cause of holding up conveyancing in Kings Langley.
I have todayfound out that Arc property Solicitors have been shut down. They carried out my conveyancing in Kings Langley for a purchase of a leasehold apartment 12 months ago. How can I be sure that the property is in my name in the name of the previous owner?
The quickest 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 Kings Langley conveyancing specialists.
Due to the advice of my in-laws I had a survey completed on a property in Kings Langley prior to retaining lawyers. I have been told that there is a flying freehold overhang to the property. The surveyor has said that some lenders may refuse to give a loan on such a house.
It depends who your proposed lender is. Santander has different instructions for example to Halifax. Should you wish to telephone us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Kings Langley. Conveyancing will be smoother if you use a solicitor in Kings Langley especially if they regularly deal with such properties in Kings Langley.
Completion is due on the sale of our £300,000 garden flat in Kings Langley next Wednesday. The managing agents has quoted £420 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Kings Langley?
Kings Langley conveyancing on leasehold apartments normally involves the purchaser’s conveyancer submitting enquiries for the landlord to answer. Although the landlord is under no legal obligation to answer such questions most will be content to do so. They may invoice a reasonable charge for responding to enquiries or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is £350, in some cases it exceeds £800. The management information fee levied by the landlord must be sent together with a synopsis of entitlements and obligations in relation to administration charges, without which the invoice is technically not due. In reality one has no option but to pay whatever is demanded should you wish to exchange contracts with the buyer.
I bought a 1 bedroom flat in Kings Langley, conveyancing was carried out half a dozen years ago. How much will my lease extension cost? Similar properties in Kings Langley with over 90 years remaining are worth £181,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease comes to an end on 21st October 2075
With 51 years left to run we estimate the price of your lease extension to be between £30,400 and £35,200 plus legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.
Why do I have to provide my solicitor with numerous items of ID ahead of starting selling or purchasing a property in Kings Langley?
Kings Langley lawyers are required by the Law Society, Solicitors Regulation Authority, the Land Registry and current AML legislation to certify that the have checked the identity of their clients. It is also sometimes a condition of your lender where you are taking a mortgage. In addition they have to complete various forms, particularly those relating to Land Tax and need to have details such as your full names, national insurance number and DOB.