Our son-in-law is purchasing a newly built flat in Waltham with a home loan from UBS. His solicitor has said that there is 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 transaction. Therefore, it will be provided to your son’s lawyer who should be on the UBS 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 UBS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
My flat in Waltham is up for sale and I have a buyer. Does my lawyer have to be required to be on the Barclays conveyancing panel in order to deal with the discharge of my mortgage?
Ordinarily, even if your lawyer is not on the Barclays conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their conditions fairly frequently currently.
There is lots of information on this site about conveyancing in Waltham but what is your top tip for appointing the right conveyancer in Waltham
It would be unwise to be seduced by the lowest Waltham conveyancing costs illustration. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in advance.
We are aiming to move property in August. Does my conveyancing solicitor call the removal company on the day of completion. Incidentally, can you recommend a removal company in Waltham. Conveyancing solicitor was organised prior to coming across this website.
On the afternoon of completion you will need to collect the keys from your property agent but this should only take place after the vendors lawyers inform the agent that they acknowledge receipt of the completion payment and the keys can be given over. Subsequently you will need to inform the removal company that you are ready to move in. As a matter of policy we do not suggest a particular removal company but can assist you in locating a conveyancing in Waltham or a solicitor with expertise in conveyancing in Waltham.
I have decided to exercise my right to buy my property in Waltham off the council. I have a mortgage offer with RBS. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with RBS, you will need to appoint a solicitor on the RBS conveyancing panel.
Will my lawyer be raising enquiries concerning flooding as part of the conveyancing in Waltham.
The risk of flooding is if increasing concern for solicitors dealing with homes in Waltham. There are those who purchase a property in Waltham, completely expectant that at some time, it may be flooded. However, aside from the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or sell the property. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Lawyers are not best placed to give advice on flood risk, but there are a various searches that may be initiated by the buyer or on a buyer’s behalf which will figure out the risks in Waltham. The conventional set of information sent to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) contains a standard question of the vendor to discover if the premises has ever been flooded. If flooding has previously occurred which is not disclosed by the owner, then a purchaser may issue a compensation claim as a result of such an incorrect reply. A purchaser’s lawyers will also carry out an environmental report. This will indicate if there is a recorded flood risk. If so, further investigations will need to be conducted.
I am looking for a flat up to £245,000 and identified one close by in Waltham I like with a park and transport links nearby, however it's only got 52 years on the lease. There is not much else in Waltham suitable, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you require a mortgage the remaining unexpired lease term will likely be a potential deal breaker. Discount the offer by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of twenty four months you could request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should consult your conveyancing solicitor concerning this.
Back In 2002, I bought a leasehold house in Waltham. Conveyancing and Santander mortgage are in place. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1994. The conveyancing practitioner in Waltham who previously acted has long since retired. What should I do?
First make enquiries of HMLR to make sure that the individual purporting to own the freehold is in fact the new freeholder. There is no need to incur the fees of a Waltham conveyancing practitioner to do this as it can be done on-line for less than a fiver. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am the registered owner of a basement flat in Waltham, conveyancing having been completed 7 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Waltham with an extended lease are worth £202,000. The ground rent is £60 charged once a year. The lease finishes on 21st October 2082
With just 57 years unexpired we estimate the price of your lease extension to span between £28,500 and £33,000 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use the figures in tribunal or court proceedings. There may be other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.