Our grandson is in the process of securing a house that has just been built in Lickey End with a mortgage from Skipton. His conveyancer 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 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 surveyor 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.
I am helping my aunt sell her flat in Lickey End. Does the conveyancer commission the energy performance certificate or it is for me to see to?
After the demise of Home Packs, energy assessments was left as a required component of selling a house. An energy assessment must be to hand prior to the property being placed on the market. It is not something that lawyers normally organise. Where you are using a Lickey End conveyancing lawyer they may be able to arrange energy performance certificates given their relationships with long established local assessors
Does a directory service exist listing Nottingham panel conveyancers in Lickey End on the UK Finance Lenders’ Handbook Website?
No. There is no such facility on the Council of Mortgage Lenders or Building Society Association websites. Very few mortgage companies make their panel listings viewable over the internet. If you are looking for a Lickey End conveyancing practitioner on the Nottingham please make the most of our facility.
We had appointed conveyancers with offices in Lickey End on the Clydesdale solicitor approved list. They are now charging me a supplemental sum for the legal aspects of the Clydesdale mortgage. Is this a supplemental conveyancing fee set by Clydesdale?
As unfair as it may appear, as long as it’s in their Terms of Engagement or estimate then yes your property lawyer can levy a fee for this. This charge is not set by Clydesdale but by your Lickey End lawyer. Some firms on the Clydesdale panel will charge an ‘acting for lender’ fee and others do not.
Will our conveyancer be making enquiries concerning flooding during the conveyancing in Lickey End.
The risk of flooding is if increasing concern for conveyancers dealing with homes in Lickey End. There are those who acquire a property in Lickey End, fully expectant that at some time, it may be flooded. However, aside from the physical damage, if a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or sell the premises. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Lawyers are not best placed to offer advice on flood risk, but there are a number of checks that can be undertaken by the purchaser or on a buyer’s behalf which will figure out the risks in Lickey End. The standard completed inquiry forms given to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual inquiry of the seller to determine if the premises has suffered from flooding. If the premises has been flooded in past and is not disclosed by the owner, then a buyer may issue a compensation claim as a result of such an inaccurate reply. A purchaser’s lawyers should also order an enviro report. This should disclose whether there is any known flood risk. If so, additional inquiries should be carried out.
Me and my brother have a terraced Edwardian property in Lickey End. Conveyancing practitioner acted for me and Bank of Scotland. I did a free Land Registry search last week and I saw a couple of entries: the first freehold, another for leasehold with the matching property. I thought I was buying a freehold how can I check?
You should assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Lickey End and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the position with your conveyancing lawyer who conducted the conveyancing.
In scouring the world wide web for the term cheap conveyancing in Lickey End it shows results of numerous conveyancersin the vicinity. With so much choice what is the best way to find the right conveyancing solicitor for my move?
The ideal method of seeking the right conveyancer is via trusted testimonial, so ask friends and those you trust who have acquired a property in Lickey End or a local estate agent or financial adviser. Costs for conveyancing in Lickey End differ, so it's sensible to secure at least three estimates from different companies. Be sure to secure confirmation that the costs are guaranteed not to increase.
I am tempted by the attractive purchase price for a two apartments in Lickey End which have about forty five years remaining on the lease term. Do I need to be concerned?
There are no two ways about it. A leasehold flat in Lickey End is a wasting asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it adversely affects the marketability of the premises. For most purchasers and mortgage companies, leases with under 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Lickey End conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I purchased a split level flat in Lickey End, conveyancing was carried out in 2006. How much will my lease extension cost? Equivalent properties in Lickey End with over 90 years remaining are worth £202,000. The average or mid-range amount of ground rent is £60 per annum. The lease comes to an end on 21st October 2082
With just 56 years remaining on your lease we estimate the price of your lease extension to span between £29,500 and £34,000 as well as costs.
The figure above a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of detailed investigations. You should not use the figures in tribunal or court proceedings. There may be additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.