Our god-son is in the process of securing a house that has just been built in Finedon with a mortgage from Yorkshire BS. His conveyancer has advised him of 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 engaged 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 am about to put a bid on a leasehold property in Finedon. The property agents tell me that it is normal for flats in Finedon to have less than 75 years left on the lease. I am taking out a loan with Virgin. Is this going to be a problem if the lease has Seventy One years unexpired.
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are obtaining a mortgage then your lender may insist that the lease be extended before competition. Virgin have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 20/12/2024 the requirements read as follows :
I require expedited conveyancing in Finedon as I am under a deadline to sign on the dotted line in less than 3 weeks. Fortunately I do not require a mortgage. Can I decline from having conveyancing searches to save money and time?
If.Given you are not taking a home loan you have the choice not to have searches conducted although no solicitor would recommend that you don't. With plenty of history conveyancing in Finedon the following are examples of issues that can appear and adversely impact future mortgageability: Enforcement Notices, Overdue Fees, Outstanding Grants, Unadopted Roads,...
I have justbecome aware that Stirling Law have been shut down. They conducted my conveyancing in Finedon for a purchase of a freehold house 18 months ago. How can I be sure that the property is not still registered in the name of the previous owner?
The quickest way to see if the property is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Finedon conveyancing specialists.
Back In 2006, I bought a leasehold house in Finedon. Conveyancing and Yorkshire Building Society mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1992. The conveyancing practitioner in Finedon who acted for me is not around. Do I pay?
First contact HMLR to make sure that this person is indeed the new freeholder. It is not necessary to instruct a Finedon 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 legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I inherited a 1 bedroom flat in Finedon, conveyancing having been completed April 2010. How much will my lease extension cost? Corresponding flats in Finedon with a long lease are worth £255,000. The ground rent is £45 invoiced annually. The lease runs out on 21st October 2097
You have 73 years unexpired the likely cost is going to range between £8,600 and £9,800 as well as legals.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more detailed investigations. Do not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.