My nephew is in the process of securing a house that has just been built in Leamington Spa with a mortgage from RBS. His solicitor has said that there is a delay in receiving 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 engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the RBS 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 RBS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
My aunt passed away 10 months ago and as sole heir and executor I was left the property in Leamington Spa. The house had a small mortgage left on it of around £4500. I want to transfer the title deeds into my name whilst I re-mortgage to Barclays, pay off the mortgage. Is this possible?
If you intend to re-mortgage then Barclays will require that you use a conveyancer on the Barclays conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Barclays conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Barclays mortgage is registered as a charge at the Land Registry.
Are there restrictive covenants that are commonly identified during conveyancing in Leamington Spa?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Leamington Spa. 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…’
I am buying a new build apartment in Leamington Spa. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below is a sample of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Leamington Spa
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Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Please supply a car parking plan. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified.
Due to the guidance of my in-laws I had a survey completed on a house in Leamington Spa in advance of retaining solicitors. I have been informed that there is a flying freehold element to the property. My surveyor has said that some banks may not issue a loan on this type of house.
It depends who your proposed lender is. Bank of Scotland has different requirements from Halifax. If you call us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Leamington Spa. Conveyancing may be slightly more expensive based on your lender's requirements.
Can you offer any advice when it comes to finding a Leamington Spa conveyancing practice to deal with our lease extension?
If you are instructing a property lawyer for your lease extension (regardless if they are a Leamington Spa conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Leamington Spa conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions might be useful:
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How experienced is the firm with lease extension legislation?
Leamington Spa Conveyancing for Leasehold Flats - Sample of Questions you should ask Prior to Purchasing
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Does the lease have onerous restrictions? What is the annual maintenance fee and ground rent? You will want to find out as much as you can concerning the managing agents as they will either make your living at the property much simpler or a lot more difficult. Being a leasehold owner you are often at the mercy of the managing agents both financially and when it comes to practical issues such as the upkeep of the common parts. You should not be shy to ask other people whether they are happy with their management. On a final note, investigate as to the dates that you are obliged pay the service charge to the managing agents and specifically what it includes.