Our grandson is about to exchange on a house that has just been built in Waddon with a mortgage from Yorkshire BS. His lawyer has said that there is a delay in completing 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 Yorkshire BS conveyancing panel as a standard part of the process, and to the surveyor 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 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.
Are the Waddon conveyancing solicitors identified as being on the Leeds Building Society conveyancing panel, together with their details provided by Leeds Building Society?
Waddon conveyancing firms themselves provide us confirmation that they are on the Leeds Building Society conveyancing panel as opposed to being supplied with a list from Leeds Building Society directly.
It has been five months since my purchase conveyancing in Waddon took place. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I decided to have a survey completed on a property in Waddon prior to retaining solicitors. I have been told that there is a flying freehold element to the property. My surveyor has said that some mortgage companies tend not give a loan on such a property.
It varies from the lender to lender. Santander has different requirements for example to Halifax. Should you wish to telephone us we can look into this further via the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Waddon. Conveyancing may be slightly more expensive based on your lender's requirements.
I only have Sixty One years unexpired on my lease in Waddon. I am keen to get lease extension but my freeholder is absent. What are my options?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. However, you will be required to demonstrate that you have done all that could be expected to track down the freeholder. In some cases an enquiry agent would be helpful to carry out a search and to produce a report to be used as evidence that the landlord is indeed missing. It is wise to seek advice from a conveyancer in relation to devolving into the landlord’s disappearance and the vesting order request to the County Court overseeing Waddon.
Following years of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in Waddon. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Most certainly. We can put you in touch with a Waddon conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Waddon property is 29 Woodstock Road in April 2014. the Tribunal determined that the premiums to be paid into court in respect of the purchase of the freehold registered at HMLR under Title N0.SY3997 should be £7,217. This case affected 4 flats. The unexpired term as at the valuation date was 98 years.
Why am I unable to complete our conveyancing in Waddon on May bank holiday?
Because on completion the money will pass between the banks of the purchaser and seller's solicitor and at present this can only occur on a working day. So you can't complete on a weekend either.