Our nephew is about to exchange on a newly built flat in Parsons Green with a home loan from Santander. His lawyer has advised him of a delay in completing the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
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 Santander 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 Santander conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I have a decision in principle. The lender mentioned the home loan came with free conveyancing. Does this mean I have to appoint their panel lawyer as I would much rather appoint a local conveyancing solicitor in Parsons Green?
You should check but the the probability is that appoint one of their panel conveyancers should you want the "fee-free" incentive. Call the mortgage company to explore if they allow a monetary alternative. It is not unheard for a lender to give a £250 cashback as a further option in which case that money can go towards your preferred conveyancing solicitor near Parsons Green.
We are getting the release of further monies on our home loan from RBS as we wish to carry out renovations to our home in Parsons Green. Do we need to appoint a local Parsons Green solicitor on the RBS conveyancing panel to handle the paperwork?
RBS don't usually appoint a member of their approved list of lawyers to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the RBS list.
I am buying a property in Parsons Green. A rare aspect is that the roof has a solar panel. Aldermore 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 you are obtaining a mortgage with Aldermore your lawyer must check the conveyancing requirements contained in Section two of UK Finance Lenders’ Handbook for Aldermore. The CML Handbook stipulates minimum specifications for solar panel roof-space leases, and conveyancing practitioners are required to report to Aldermore where a lease fails to comply with these conditions. The requirements relate to the installation of panels on properties countrywide and is not limited to Parsons Green.
I have decided to exercise my right to buy my property in Parsons Green off the council. I have a mortgage offer with Nottingham. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Nottingham, you will need to appoint a solicitor on the Nottingham conveyancing panel.
Are there restrictive covenants that are commonly picked up during conveyancing in Parsons Green?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Parsons Green. 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…’
I own a leasehold house in Parsons Green. Conveyancing and Skipton Building Society mortgage went though with no issue. A letter has just been received from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1993. The conveyancing practitioner in Parsons Green who acted for me is not around. What should I do?
The first thing you should do is contact the Land Registry to make sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. You do not need to instruct a Parsons Green conveyancing firm to do this as it can be done on-line for £3. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Despite our best efforts, we have been unsuccessful in seeking a lease extension in Parsons Green. Can this matter be resolved via the Leasehold Valuation Tribunal?
in cases where there is a missing freeholder or if there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to arrive at the sum to be paid.
An example of a Freehold Enfranchisement decision for a Parsons Green property is 66 and 66a Wardo Avenue in November 2012. The Tribunal determined that the sum of £8,048 is payable by the Applicants in respect of the price for the freehold of the property This case affected 2 flats. The unexpired lease term was 93 years and 162 years.
Being a tenant I am liable for a maintenance fee for my appartment in Parsons Green. Due to redundancy and other issues I fell into arrears with payments. I negotiated a payment schedule but there is still three thousand pounds currently due.
I am under pressure to dispose of the property and I am nervous that this may hold me back if I have to settle the amount due first. I'd like to sell up and subsequently pay them back with the completion monies - is this practicable?
It would be wise to check with the property lawyer handling your Parsons Green conveyancing but one option could be to arrange for the arrears to be transferred to the buyers. The final price due would be reduced to reflect the amount of debt they assume. They could then pay the fees after completion of the purchase.