My god-son is about to exchange on a house that has just been built in Newington with a home loan from Coventry BS. His solicitor has advised him of a delay in receiving 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 purchase. Therefore, it will be provided to your son’s lawyer who should be on the Coventry BS 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 Coventry BS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Various web forums that I have visited warn that are the number one cause of stalling in Newington conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the determinations of research by MoveWithUs that conveyancing searches do not feature within the top 10 causes of hindrances during the legal transfer of property. Local searches are unlikely to be the root cause of slowing down conveyancing in Newington.
Are there restrictive covenants that are commonly identified as part of conveyancing in Newington?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Newington. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How can the Landlord & Tenant Act 1954 affect my business premises in Newington and how can your lawyers assist?
The 1954 Act affords protection to commercial tenants, giving them the right to apply to court for a continuation of occupancy when the lease comes to an end. There are limited grounds where a landlord can refrain from granting a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing solicitors who use the act to your advantage and help with commercial conveyancing in Newington
My husband and I are new on the property ladder - agreed a price, yet the selling agent told us that the vendor will only proceed if we appoint their chosen conveyancers as they want an ‘expedited deal’. Our preferred option is to instruct a local solicitor who is accustomed to conveyancing in Newington
We suspect that the owner is unaware of this requirement. If they require ‘a quick sale', turning down a genuine purchaser is likely to cause more damage than good. Speak to the owners direct and make sure they understand (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)however you intend to instruct your own,trusted Newington conveyancing lawyers - not the ones that will earn their estate agent a commission or meet his conveyancing thresholds demanded by corporate headquarters.
I only have Seventy years remaining on my lease in Newington. I am keen to get lease extension but my freeholder is can not be found. What are my options?
If you meet the appropriate requirements, 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 Court. You will be obliged to demonstrate that you or your lawyers have done all that could be expected to find the lessor. In some cases an enquiry agent should be helpful to carry out a search and prepare a report to be accepted by the court as evidence that the landlord can not be located. It is wise to seek advice from a property lawyer both on proving the landlord’s disappearance and the vesting order request to the County Court overseeing Newington.
We have reached the end of our tether in trying to reach an agreement for a lease extension in Newington. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Absolutely. We are happy to put you in touch with a Newington conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Newington residence is 1-41 Royal Tower Lodge 40 Cartwright Street in April 2013. the tribunal adding the agreed value of capitalised ground rents and the reversion the price to be paid for the freehold was £1,187,000 This case affected 41 flats. The remaining number of years on the lease was 107 years.