Our son is about to exchange on a house that has just been built in Battersea with a mortgage from Leeds Building Society. His conveyancer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The form 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 Leeds Building Society conveyancing panel as a standard part of the process, and to the valuer 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 Leeds Building Society conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
In what way does my ID and proof of funds have anything to do with my conveyancing in Battersea? Why is this being asked of me?
To satisfy the Money Laundering Regulations any Battersea conveyancing firm will require evidence of your identity in all conveyancing matters. This is usually satisfied by provision of a passport and an original bank statement or utility bill evidencing your correct address.
In accordance with Money Laundering Regulations, conveyancers are obliged by law to investigate not just the ID of conveyancing clients but also the origin of fund that they receive in respect of any matter. Refusal to disclose this will lead to your solicitor cancelling their retainer with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your conveyancers will have an obligation to make a disclosure to the appropriate authorities should they believe that any monies received by them may contravene the Anti-terror and anti-money-laundering rules.
I am looking for a leasehold apartment up to £235,500 and identified one round the corner in Battersea I like with a park and transport links nearby, the downside is that it's only got 51 years unexpired on the lease. I can't really find anything else in Battersea in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you need a home loan the remaining unexpired lease term will likely be a potential deal breaker. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for a minimum of twenty four months you can ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer about this.
I am selling my house. My previous lawyers has retired. I would be grateful for any recommendation of a conveyancing firm. Im based in Battersea if that affects matters.
Please use our search tool to help you choose a solicitor for your conveyancing in Battersea. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move runs smoothly.
I would like to let out my leasehold apartment in Battersea. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?
The lease governs the relationship between the landlord and you the leaseholder; specifically, it will say if subletting is not allowed, or permitted but only subject to certain caveats. The rule is that if the lease contains no specific ban or restriction, subletting is allowed. The majority of leases in Battersea do not prevent an absolute prevention of subletting – such a provision would undoubtedly devalue the flat. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly sending a copy of the tenancy agreement.
Despite our best endeavours, we have been unsuccessful in trying to purchase the freehold in Battersea. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most definitely. We are happy to put you in touch with a Battersea conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Battersea premises is 150A Albert Palace Mansions Lurline Gardens in July 2013. The Tribunal determined that the premium payable for the new lease of the subject property was £42,069 This case was in relation to 1 flat. The number of years remaining on the existing lease(s) was 57.06 years.
Is it true that a Battersea conveyancing company taken to court by a client for failing to conduct the right conveyancing searches?
Our attention has not be brought to such a Battersea conveyancing claim but it has been reported that, clients buying a house elsewhere in England successfully sued their conveyancing practitioner due to development permission to construct a wind farm not being picked up in conveyancing searches.
If you are purchasing in Battersea It is important that your lawyer conduct all Battersea conveyancing searches required to ensure you have relevant and current information before acquiring a home in Battersea.