Our god-son is about to exchange on a new build apartment in Old Ford with a home loan from Aldermore. His lawyer has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
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 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.
Do the Building Society Association intend to launch a search tool with a view to list solicitors on the Earl Shilton BS conveyancing panel for example in Old Ford?
We are not aware of any intention on the part of the BSA to develop such a search facility.
Over the last few months I have been searching for a ground for flat up to £235,500 and identified one near me in Old Ford I like with amenity areas and station in the vicinity, however it only has 52 remaining years left on the lease. There is not much else in Old Ford suitable, so just wondered if I would be making a grave error purchasing a short lease?
If you require a home loan the shortness of the lease will be an issue. Discount the price by the expected lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of 2 years you could request that they start the process of the extension and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this.
Am I right to be suspicious that third parties that I am dealing with are recommending a web based conveyancing firm as opposed to a High Street Old Ford conveyancing company?
As with many service providers, often recommendations from family and friends can be extremely useful or valuable. Yet there are lots of players in a conveyancing transaction; estate agents, mortgage brokers and banks might all recommend lawyers to use. Sometimes the lawyers might be known to one of the organisations as experts in their field, but sometimes there may be a commercial relationship behind the endorsement. You have the right to appoint your preferred lawyer. Don't forget that the majority of banks specify a panel list of law firms you are obliged to use for the mortgage aspect of your house move.
In my capacity as executor for the will of my grandmother I am disposing of a residence in Monmouth but live in Old Ford. My solicitor (based 250 miles from mehas requested that I execute a statutory declaration ahead of completion. Could you suggest a conveyancing practitioner in Old Ford who can witness and place their company stamp on the document?
strictly speaking you should not be required to have the documents witnessed by a conveyancing solicitor. Normally any notary public or solicitor will do regardless of whether they are Old Ford based
What advice can you give us when it comes to finding a Old Ford conveyancing practice to carry out our lease extension conveyancing?
When appointing a conveyancer for lease extension works (regardless if they are a Old Ford conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggest that you make enquires with two or three firms including non Old Ford conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions might be of use:
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If they are not ALEP accredited then why not? Can they put you in touch with clients in Old Ford who can give a testimonial?
I have attempted and failed to negotiate with my landlord to extend my lease without any joy. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a Old Ford conveyancing firm to represent me?
Most definitely. We can put you in touch with a Old Ford conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Old Ford premises is 26 Rhondda Grove in June 2009. The net price payable by the leaseholders as determined by the Tribunal was £3,015.13. This comprised £11,300 premium for the reversion less £8,284.87 costs as ordered by the County Court.