My grandson is about to exchange on a newly built flat in Kingswood with a home loan from HSBC. His lawyer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The form is intended to provide information to the main parties involved in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the HSBC 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 HSBC conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I own a freehold house in Kingswood but nevertheless invoiced for rent, why is this and what is this?
It is rare for properties in Kingswood and has limited impact for conveyancing in Kingswood but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the generation of new rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
I am purchasing a property and need a conveyancing solicitor in Kingswood who is on the Accord Mortgages Ltd solicitor. Can you recommend a local firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Accord Mortgages Ltd in certain locations such as Kingswood. We dont recommend any particular firm.
We have agreed to purchase a house in Kingswood. One unusual aspect is that the roof has a solar panel. Lloyds have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is Lloyds your lawyer must check the conveyancing requirements contained in Part 2 of UK Finance Lenders’ Handbook for Lloyds. The CML Handbook includes minimum conditions for solar panel roof-space leases, and solicitors are required to report to Lloyds where a lease fails to meet these requirements. The conditions relate to the installation of panels on properties in England and Wales and is not limited to Kingswood.
Planning on purchasing a apartment in Kingswood. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Virgin Money conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Kingswood conveyancer is on the Virgin Money conveyancing panel.
Our offer on a house in Kingswood has been accepted, but there is a chain. The vendors have put an offer on on an apartment, but it’s not yet agreed to, and are looking at other flats booked. I have chosen a nearby conveyancing solicitor in Kingswood. What should be my next step? When do I get the mortgage application with Santander going?
It is normal to have apprehensions where there is a chain as you are unlikely to want to incur costs prematurely (mortgage application is in the region of one thousand pounds, then valuation, Kingswood conveyancing search charges, etc). First, you must check that your property lawyer is on the Santander approved list. Concerning the subsequent phase this very much dictated by the specifics of your transaction, desire for the property and on the state of the market. During a buoyant market the majority of purchasers will apply for a home loan with Santander and arrange for the valuation and only if it was satisfactory would they ask their conveyancer to move forward with the conveyancing in Kingswood.
My husband and I are a fortnight into a freehold purchase having been directed to a firm by the estate agent to execute conveyancing in Kingswood. I am am very disappointed with the level of service. Could you you assist me in finding new solicitors?
They would need to be very poor to suggest replacing them. Has the mortgage been issued? If so you need to inform them of the new contact details and ensure the loan are re-sent. The solicitor ideally needs to be on the mortgage company panel to avoid added fees and frustration. So that should be your starting point. Our search tool can assist you in finding a bank approved conveyancer for your home move in Kingswood
I have recently realised that I have Sixty One years unexpired on my lease in Kingswood. I am keen to get lease extension but my freeholder is missing. What are my options?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. However, you will be required to prove that you have used your best endeavours to locate the landlord. In some cases an enquiry agent should be useful to conduct investigations and to produce a report which can be accepted by the court as evidence that the freeholder is indeed missing. It is advisable to get professional help from a conveyancer both on investigating the landlord’s absence and the application to the County Court covering Kingswood.
I am the registered owner of a 2 bed flat in Kingswood, conveyancing formalities finalised in 2006. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Kingswood with over 90 years remaining are worth £191,000. The ground rent is £55 invoiced every year. The lease terminates on 21st October 2075
With 53 years remaining on your lease the likely cost is going to range between £27,600 and £31,800 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.