Our nephew is purchasing a new build apartment in Knowle with a home loan from Yorkshire BS. His solicitor has said that there is 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 Yorkshire BS 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 Yorkshire BS 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 4 bedroom Georgian house in Knowle. Conveyancing solicitor represented me and Bank of Ireland. I did a free Land Registry search last week and there are two entries: the first freehold, another for leasehold under the matching property. If a house is not a freehold shouldn't I have been informed?
You should read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Knowle and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the situation with your conveyancing solicitor who carried out the work.
The estate agent has sent us the confirmation of our purchase of a new build flat in Knowle. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below are examples of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Knowle
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Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Forfeiture - bankruptcy or liquidation must not apply under this provision. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Please supply a car parking plan. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified.
I'm converting the mortgage on my primary house to a BTL mortgage with Accord Mortgages Ltd and I will use the ballance of the raised equity as a down payment on another property. The location we are looking at is Knowle. Will your lawyers be able to act for both sets of mortgage companies and tie in the conveyances?
Make use of our search tool on this page to be sure that the solicitors are approved by both mortgage companies. Assuming that they are your lawyer will be able to tie up the two conveyancing matters but you should talk with you solicitor and communicate your expectations and needs.
Having checked my lease I have discovered that there are only Sixty One years left on my flat in Knowle. I now wish to extend my lease but my freeholder is can not be found. What options are available to me?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. You will be obliged to demonstrate that you or your lawyers have made all reasonable attempts to find the landlord. In some cases a specialist should be useful to try and locate and prepare an expert document 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 disappearance and the vesting order request to the County Court overseeing Knowle.
I am the registered owner of a studio flat in Knowle, conveyancing was carried out in 2002. How much will my lease extension cost? Similar flats in Knowle with over 90 years remaining are worth £185,000. The ground rent is £65 invoiced annually. The lease finishes on 21st October 2086
With just 60 years unexpired the likely cost is going to range between £20,000 and £23,000 plus costs.
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 comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.
Would local authority consent be necessary to split a single dwelling into a couple of flats in Knowle? This has occurred to a house adjacent to my home in Knowle and was ignorant of the conversion until it was complete.
Planning permission is required for splitting a single house in Knowle into apartments but possibly not for reverting back to single dwelling-house so, simply put, yes.