My god-son is purchasing a newly built flat in Hadley Wood with a mortgage from Principality. His conveyancer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
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 Principality 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 Principality conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
As someone not used to conveyancing in Hadley Wood what is your top tip you can give me concerning the home moving process in Hadley Wood
You may not hear this from too many lawyers but conveyancing in Hadley Wood and elsewhere in England and Wales is an adversarial process. Put another way, when it comes to conveyancing there is an abundance of opportunity for friction between you and other parties involved in the ownership transfer. For example, the vendor, property agent and sometimes the bank. Appointing a lawyer for your conveyancing in Hadley Wood an important selection as your conveyancer is your adviser, and is the SOLE person in the legal process whose responsibility is to act in your best interests and to protect you.
We are witnessing a distinct emergence of a "blame" culture- someone must be blamed for the process taking so long. We recommend that you your first instinct should be to trust your conveyancer ahead of all other parties in the conveyancing process.
I'm buying my first flat in Hadley Wood with a mortgage from Accord Mortgages Ltd. The developers refused to reduce the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative suggested that I not disclose to my solicitor about the side-deal as it may impact my loan with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I am selling my property. My former lawyers have shut. It would be helpful to have a recommendation of a conveyancing firm. Im based in Hadley Wood if that makes things easier.
You should use our search tool to help you find a solicitor for your conveyancing in Hadley Wood. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move goes with a minimum of fuss.
My husband and I are novice buyers - had an offer accepted, yet the agent has warned us that the vendor will only issue a contract if we use their recommended lawyers as they are insisting on a ‘quick sale’. We would rather use a high street solicitor with experience of conveyancing in Hadley Wood
We suspect that the owner is unaware of this demand. Should the vendor desire ‘a quick sale', turning down a genuine purchaser is likely to cause more damage than good. Contact the vendors directly and explain that (a)you are serious purchasers (b)you are excited to move forward, with mortgage lined up © you do not need to sell (d) you wish to move quickly (e)but you are going to appoint your preferred Hadley Wood conveyancing solicitors - not the ones that will provide their negotiator at the agency a kickback or achieve conveyancing targets pre-set by head office.
Can you provide any advice for leasehold conveyancing in Hadley Wood with the aim of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Hadley Wood can be bypassed if you appoint lawyers as soon as you market your property and request that they start to put together the leasehold documentation needed by the buyers’ representatives. If there is a history of any disputes with your freeholder or managing agents it is very important that these are settled before the property is marketed. The buyers and their solicitors will be nervous about purchasing a flat where there is an ongoing dispute. You will have to accept that you will have to pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as over as opposed to ongoing. If you are supposed to have a share in the freehold, you should ensure that you have the original share document. Obtaining a duplicate share certificate is often a time consuming formality and frustrates many a Hadley Wood conveyancing transaction. If a duplicate share certificate is necessary, you should approach the company officers or managing agents (where applicable) for this as soon as possible. The majority of freeholders or managing agents in Hadley Wood charge for providing management packs for a leasehold property. You or your lawyers should discover the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Hadley Wood. You may think that you are aware of the number of years remaining on your lease but you should double-check by asking your conveyancers. A buyer’s conveyancer will not be happy to advise their client to where the lease term is below 75 years. It is therefore important at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.
After months of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in Hadley Wood. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Absolutely. We are happy to put you in touch with a Hadley Wood conveyancing firm who can help.
An example of a Lease Extension decision for a Hadley Wood property is Flat 2 2 Netherfield Road in April 2010. The Tribunale held that premium payable for a 90 year extension to the existing Lease should be £7,705. This case affected 1 flat. The remaining number of years on the lease was 76 years.