Our son-in-law is about to exchange on a new build apartment in Mortlake with a home loan from Skipton. His lawyer has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The document is intended to provide information to the main parties involved 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.
A colleague suggested that where I am purchasing in Mortlake I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is usually included in the estimate for your Mortlake conveyancing searches. It is not a small document of more than thirty pages, listing and detailing important information about Mortlake around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Mortlake Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Mortlake Education with maps and statistics, Local Amenities and other useful information about Mortlake.
I am buying my first flat in Mortlake with the aid of help to buy. The sellers would not budge the amount so I negotiated 6k of extras instead. The property agent advised me not disclose to my lawyer about this side-deal as it may adversely affect my loan with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I've recently found out that there is a flying freehold element on a property I have offered on two weeks back in what was supposed to be a quick, no chain conveyancing. Mortlake is the location of the property. Is there any advice you can give?
Flying freeholds in Mortlake are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Mortlake 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 Mortlake may ascertain 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 residence.
As co-executor for the will of my grandfather I am disposing of a residence in Swansea but reside in Mortlake. My conveyancer (approximately 260 miles from merequires that I sign a stat dec prior to completion. Can you recommend a conveyancing solicitor in Mortlake to witness this legal document for me?
strictly speaking you should not be required to have the documents witnessed by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will suffice regardless of whether they are Mortlake based
I have recently realised that I have Sixty One years left on my flat in Mortlake. I now wish to get lease extension but my freeholder is missing. What are my options?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. However, you will be required to prove that you or your lawyers have made all reasonable attempts to find the freeholder. On the whole an enquiry agent may be helpful to try and locate and to produce a report which can be used as evidence that the landlord is indeed missing. It is wise to seek advice from a property lawyer both on proving the landlord’s disappearance and the application to the County Court covering Mortlake.
I have attempted and failed to negotiate with my landlord to extend my lease without success. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Mortlake conveyancing firm to help?
if there is a absentee landlord or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to judgment on the price payable.
An example of a Freehold Enfranchisement case for a Mortlake premises is 19 St. Margarets Crescent in August 2010. the tribunal was of the view that the premium to be paid by the leaseholder for the freehold reversion was £51,983.00 This case related to 3 flats. The unexpired lease term was 66.25 years.