My nephew is purchasing a newly built flat in Shenley with a mortgage from HSBC. His conveyancer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The form 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 HSBC 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 HSBC conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Can you explain why leasehold purchase conveyancing in Shenley costs more?
The conveyancing fees on a leasehold premises in Shenley is inevitably greater than on a freehold acquisition or disposal. This is because there is an amount of extra work necessary in communicating with the freeholder and managing agents to collate the information about whether the rent and maintenance fee have been cleared and whether there are any large sums expected to be spent in the foreseeable future on repairs or maintenance of the building.
Can I be sure that the Shenley conveyancing solicitor on the Kent Reliance panel is any good?
When it comes to conveyancing in Shenley getting recommendations is a good start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advocate that you speak with the lawyer handling your transaction.
I am selling my flat. I had a double glazing fitted in August 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Skipton are being pedantic. The Shenley solicitor who is on the Skipton conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Skipton are insisting on a building regulation certificate. Why do Skipton have a conveyancing panel if they don't accept advice from them?
It is probably the case that Skipton have referred the matter to their valuer. The reason why Skipton may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Our sealed bid on a property in Shenley has been accepted, the sellers do however have a tied purchase. The sellers have offered on a flat, however it’s not yet agreed to, and are looking at other flats booked. I have instructed a bricks and mortar conveyancing solicitor in Shenley. What do I do now? At what stage should I apply for the mortgage with Coventry BS?
It is normal to have anxieties where there is a chain as you are unlikely to want to incur expenses too early (home loan application is approx £1k, then valuation, Shenley conveyancing search costs, etc). The first thing to do is ensure that your conveyancer is on the Coventry BS conveyancing panel. As to the subsequent phase this very much depends on the specifics of your transaction, motivation for the property and on the state of the market. In a rising market the majority of home buyers would apply for the mortgage with Coventry BS and pay for the valuation and only if it comes back ok would they pay their property lawyer to move forward with searches.
I've recently found out that there is a flying freehold element on a house I put an offer in last month in what was supposed to be a straight forward, no chain conveyancing. Shenley is the location of the property. Can you offer any advice?
Flying freeholds in Shenley are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Shenley you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Shenley 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 premises.
I need to retain a conveyancing solicitor for remortgage conveyancing in Shenley. I happened to discover a site which looks to be the perfect answer If it is possible to get all the legals completed via email that would be ideal. Do I need to be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
My wife and I may need to let out our Shenley ground floor flat for a while due to a career opportunity. We instructed a Shenley conveyancing practice in 2002 but they have since shut and we did not think at the time get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
Your lease dictates relations between the freeholder and you the flat owner; in particular, it will set out if subletting is banned, or permitted but only subject to certain caveats. The rule is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in Shenley do not prevent subletting altogether – such a clause would undoubtedly devalue the flat. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly supplying a duplicate of the sublease.
Despite our best efforts, we have been unsuccessful in negotiating a lease extension in Shenley. Can the Leasehold Valuation Tribunal adjudicate on premiums?
You certainly can. We can put you in touch with a Shenley conveyancing firm who can help.
An example of a Lease Extension decision for a Shenley premises is Ground Floor Maisonette 17 Milton Road in January 2014. The Tribunal determined the premium payable by the Applicant to the should be £13,299 This case was in relation to 1 flat. The unexpired term was 71.73 years.