Our god-son is buying a newly built flat in Ealing with a home loan from TSB. His conveyancer has said that there is a delay in receiving 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 TSB conveyancing panel as a standard part of the process, and to the surveyor 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 TSB conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Finally the sale completed on my house in Ealing last February but my buyer keeps telephoning daily to moan that his solicitor is waiting to hear from mine. What are the post completion sale formalities following completion?
Post completion of your disposal your lawyer should send the transfer deeds and all additional paperwork to the buyer’s solicitors. Where relevant, your lawyer must also send confirmation that the legal charge in favour of the lender has been discharged to the purchasers lawyers. There is unlikely to be post completion requirements peculiar conveyancing in Ealing.
I require quick conveyancing in Ealing as I am faced with a deadline to exchange contracts inside one month. Fortunately I do not require a mortgage. Is it possible to avoid the conveyancing searches to save fees and time?
As you are are a cash buyer you have the choice not to have searches conducted although no solicitor would suggest that you don't. Drawing on years of experience of conveyancing in Ealing the following are instances of issues that can appear and therefore impact the marketability of the property: Enforcement Notices, Overdue Fees, Overdue Grants, Road Schemes,...
How does conveyancing in Ealing differ for newly converted properties?
Most buyers of new build or newly converted property in Ealing contact us having been asked by the builder to exchange contracts and commit to the purchase even before the house is built. This is because developers in Ealing tend to buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Ealing or who has acted in the same development.
I today plan to offer on a house that appears to meet my requirements, at a reasonable figure which is making it all the more appealing. I have since discovered that it's a leasehold as opposed to freehold. I am assuming that there are issues purchasing a leasehold house in Ealing. Conveyancing solicitors have not yet been appointed. Will they explain the issues?
The majority of houses in Ealing are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area who can assist with the conveyancing process. We note that you are buying in Ealing so you should seriously consider shopping around for a Ealing conveyancing solicitor and check that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example requiring the landlord’spermission to conduct changes to the property. You may also be required to pay a service charge towards the upkeep of the communal areas where the house is part of an estate. Your conveyancer will report to you on the legal implications.
I am the proprietor of a first floor flat in Ealing. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the sum payable for the purchase of the freehold?
Absolutely. We are happy to put you in touch with a Ealing conveyancing firm who can help.
An example of a Lease Extension case for a Ealing flat is Flat 4 38 The Mall in April 2014. the Tribunal held that the premium payable for the lease extension to be £25,451 This case related to 1 flat. The number of years remaining on the existing lease(s) was 68.7 years.
We are about to exchange buying a house in Ealing but as a result of damage from the recent storms I have agreed compensation from the current proprietors of four thousand pounds taking the form of a reduction in the price. This was going to be dealt with as part of the conveyancing process yet the lender will not agree to this. Why were they approached?
Any property lawyer listed on the bank approved list is obliged to inform the bank of any amendments to the purchase price. If you were to refuse your lawyer to disclose the reduction to your lender then they would need to discontinue representing you and the lender.