Our son is buying a new build apartment in Mudeford with a home loan from Principality. His conveyancer has advised him of 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 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 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 Principality conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
It has been 2 months since my purchase conveyancing in Mudeford completed. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I opted to have a survey completed on a property in Mudeford before appointing solicitors. I have been advised that there is a flying freehold overhang to the property. My surveyor has said that some mortgage companies tend refuse to grant a loan on such a home.
It depends who your proposed lender is. Lloyds has different instructions for example to Halifax. If you e-mail us we can check via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Mudeford. Conveyancing will be smoother if you use a solicitor in Mudeford especially if they are acquainted with such properties in Mudeford.
I need to instruct a conveyancing practitioner in Mudeford for my home move. Can I review a firm’s complaints history with the legal regulator?
Members of the public can find published Solicitor Regulator Association (SRA) determinations arising from investigations started on or after 1 January 2008. Go to Check a solicitor's record. For details Pre 2008, or to check a solicitors history, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, call +44 (0)121 329 6800. The SRA could monitor call for training purposes.
If all goes to plan we aim to complete the sale of our £250,000 maisonette in Mudeford in 8 days. The landlords agents has quoted £348 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Mudeford?
Mudeford conveyancing on leasehold maisonettes often necessitates the buyer’s lawyer submitting questions for the landlord to answer. Although the landlord is not legally bound to respond to such questions most will be willing to assist. They are at liberty to charge a reasonable administration fee for responding to questions or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is over three hundred pounds, in some transactions it is above £800. The management information fee required by the landlord must be sent together with a summary of rights and obligations in relation to administration fees, otherwise the invoice is not strictly payable. In reality one has no option but to pay whatever is requested of you if you want to sell the property.
I acquired a leasehold flat in Mudeford, conveyancing was carried out in 2008. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable flats in Mudeford with a long lease are worth £227,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease expires on 21st October 2093
With only 72 years left to run we estimate the price of your lease extension to be between £9,500 and £11,000 plus costs.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.
To what extent are Mudeford conveyancing solicitors duty bound by the Law Society to issue transparent conveyancing figures?
Contained within the Solicitors Code of Conduct are prescriptive rules and regulations as to how the Solicitors Regulation Authority (SRA) allow solicitors to publicise their charges to clients.The Law Society have a practice note giving advice on how to publicise transparent charges to avoid breaching any such rule. Practice notes are not legal advice issued by the Law Society and is not intended as the only standard of good practice a conveyancing solicitor should adhere to. The Practice Note does, however, represent the Law Society’s perspective of acceptable practice for publicising conveyancing charges, and accordingly it’s a recommended read for any solicitor or conveyancer in Mudeford or across England and Wales.