My son-in-law is purchasing a newly built flat in Glastonbury with a home loan from Kent Reliance. His conveyancer has advised him of a delay in completing the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The form 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 Kent Reliance conveyancing panel as a standard part of the process, and to the valuer 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 Kent Reliance conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Just had an offer accepted on a new build apartment in Glastonbury. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here is a sample of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Glastonbury
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The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. There must be mutual enforceability of lessee’s covenants. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please confirm the Lease plans are architect prepared.
Due to the guidance of my in-laws I had a survey completed on a property in Glastonbury before appointing lawyers. I have been informed that there is a flying freehold aspect to the property. My surveyor has said that some banks tend refuse to grant a loan on this type of house.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Birmingham Midshires. If you e-mail us we can investigate further with the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Glastonbury. Conveyancing will be smoother if you use a solicitor in Glastonbury especially if they are accustomed to such properties in Glastonbury.
My father-in-law has suggested that I use his conveyancing solicitors in Glastonbury. Do I follow his recommendation?
No doubt the ideal way to find a conveyancing solicitor is to have guidance from friends or family who have experience in using the firm you're considering.
My wife and I purchased a leasehold house in Glastonbury. Conveyancing and HSBC Bank mortgage went though with no issue. A letter has just been received from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1992. The conveyancing practitioner in Glastonbury who acted for me is not around. Do I pay?
The first thing you should do is make enquiries of the Land Registry 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 Glastonbury conveyancing practitioner to do this as you can do this on the Land Registry website for £3. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am the registered owner of a 2 bed flat in Glastonbury, conveyancing was carried out June 2006. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Glastonbury with an extended lease are worth £185,000. The average or mid-range amount of ground rent is £65 invoiced every year. The lease expires on 21st October 2086
With only 60 years unexpired we estimate the price of your lease extension to range between £20,000 and £23,000 as well as professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to provide the actual costs without more detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.