My grandson is buying a new build apartment in St Luke's with a mortgage from Yorkshire BS. His lawyer has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The form is intended to provide information to the main parties involved in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Yorkshire BS 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 Yorkshire BS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I need some fast conveyancing in St Luke's as I am under a deadline to sign on the dotted line inside 2 weeks. A mortgage is not required. Is it possible to decline from having conveyancing searches to save money and time?
As you are not getting a mortgage you have the choice not to have searches carried out although no law firm would recommend that you don't. With lots of history conveyancing in St Luke's the following are instances of what can appear and therefore impact future saleability: Enforcement Notices, Overdue Fees, Outstanding Grants, Railway Schemes,...
Despite weeks of looking the Title Certificate and documents to my house are lost. The conveyancers who conducted the conveyancing in St Luke's 5 years ago have long since closed. What do I do?
In today’s world there are copies made of almost everything, and your lawyer should know exactly where to locate all the relevant paperwork so you may buy or sell your house without a hitch. Where duplicates are not available, your conveyancer may be able to arrange cover in the form of insurance or indemnities protecting you against possible claims on the premises.
I am looking for a leasehold apartment up to £235,500 and found one near me in St Luke's I like with a park and railway links nearby, the downside is that it's only got 61 remaining years left on the lease. I can't really find anything else in St Luke's in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you need a home loan the shortness of the lease will likely be an issue. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of 2 years you can ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this matter.
We are one month into a freehold purchase having been directed to solicitors by the estate agent to execute conveyancing in St Luke's. I am am very frustrated with the level of service. Could you help me find new lawyers?
They would need to be really bad to suggest diss instructing them. Has your mortgage been issued? In the event that it has you will need to make them aware of the new contact details and get the mortgage documents are re-issued. Your new conveyancer should be on the lenders panel to avoid escalating expenses and delays. That should be your starting point. The find a solicitor tool can help you find a bank approved conveyancer for your conveyancing in St Luke's
I am a negotiator for a busy estate agency in St Luke's where we see a few flat sales derailed as a result of leases having less than 80 years remaining. I have been given conflicting advice from local St Luke's conveyancing solicitors. Could you clarify whether the vendor of a flat can instigate the lease extension process for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
My wife and I have hit a brick wall in trying to reach an agreement for a lease extension in St Luke's. Can this matter be resolved via the Leasehold Valuation Tribunal?
Absolutely. We can put you in touch with a St Luke's conveyancing firm who can help.
An example of a Lease Extension case for a St Luke's premises is 137 & 139 Haberdasher Street in December 2013. The Tribunal determines in accordance with section 48 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 that the premium for the extended lease for each Property should be £12,350.00. This case was in relation to 2 flats. The unexpired lease term was 72.39 years.