My son-in-law is purchasing a newly built flat in Altrincham with a mortgage from Coventry BS. His lawyer has advised him of 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 Coventry 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 Coventry BS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
About to purchase a new build apartment in Altrincham. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below is a sample of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Altrincham
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Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Forfeiture - bankruptcy or liquidation must not apply under this provision. Please confirm the Lease plans are surveyor prepared. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in two weeks back in what should have been a quick, chain free conveyancing. Altrincham is the location of the property. What do you suggest?
Flying freeholds in Altrincham are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Altrincham you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Altrincham may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
My company is wishing to take over a lease of an office on the high street. Can you recommend conveyancers offering no-move-no costs for commercial conveyancing in Altrincham for less than 1500k?
We are happy to recommend firms who have an in-depth of experience of commercial conveyancing in Altrincham, including the sale and purchase of businesses as well as simply property. If you are looking to purchase or lease a shop, pub, restaurant, office, retail premises or a whole business we will put you in touch with the right lawyer. Regarding the charges this will depend on the structure and nuances of the proposed transaction. Please provide us with your contact information or phone so as to enable us to supply you with comprehensive commercial conveyancing calculation.
I've recently bought a leasehold property in Altrincham. Do I have any liability for service charges for periods before my ownership?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I am the registered owner of a 2 bed flat in Altrincham, conveyancing having been completed in 1995. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Altrincham with over 90 years remaining are worth £186,000. The ground rent is £55 invoiced every year. The lease finishes on 21st October 2076
With only 52 years unexpired the likely cost is going to span between £29,500 and £34,000 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.
I'm buying a bungalow in Altrincham. I have found my conveyancer's company on the CLC list, but I can't find my lawyer's name on the list. Is this a big problem?
Not every individual in the law firm must be listed by the regulator. As long there is a manager qualified to 'oversee' the conveyancing, the actual day-to-day activity can be conducted by unlicensed staff.