Our son-in-law is in the process of securing a new build apartment in Lakenham with a home loan from Yorkshire BS. 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 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 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 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.
What is the first thing I need to know regarding purchase conveyancing in Lakenham?
Not many law firms shout this from the rooftops but conveyancing in Lakenham or throughout England and Wales is often a confrontational experience. Put another way, when it comes to conveyancing there exists plenty of opportunity for conflict between you and other parties involved in the legal transfer of property. E.g., the seller, selling agent and on occasion a bank. Selecting a law firm for your conveyancing in Lakenham an important selection as your conveyancer is your adviser, and is the ONE party in the process whose interest is to act in your legal interests and to keep you safe.
There is a definite increase of a "blame" culture- someone has to be blamed for the process being so protracted. You your first instinct should be to trust your conveyancer above all other players when it comes to the legal assignment of property.
My grandmother passed away last year and as sole heir and executor I was left the house in Lakenham. The house had a small mortgage left on it of around £8000. I want to transfer the title deeds into my name whilst I re-mortgage to Nottingham, pay off the mortgage. Is this possible?
If you plan to re-mortgage then Nottingham will require that you use a conveyancer on the Nottingham conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Nottingham conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Nottingham mortgage is registered as a charge at the Land Registry.
I used Action Conveyancing a few years ago for my conveyancing in Lakenham. Now, I need the files but the law firm is no longer operating. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Lakenham of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I have been on the look out for a flat up to £305k and identified one close by in Lakenham I like with amenity areas and railway links in the vicinity, however it's only got 49 years unexpired on the lease. There is not much else in Lakenham for this price, so just wondered if I would be making a mistake buying a short lease?
Should you need a home loan the shortness of the lease will likely be a potential deal breaker. Discount the offer by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least twenty four months you could request that they start the process of the extension and then assign it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this matter.
Last August I purchased a leasehold house in Lakenham. Do I have any liability for service charges for periods before my ownership?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Lakenham Conveyancing for Leasehold Flats - A selection of Questions you should consider Prior to Purchasing
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Is anyone aware of any major works on the horizon that will increase the service fees? Does the lease contain onerous restrictions? Are any of leasehold owners in dispute over their service charge liability?