My grandson is about to exchange on a house that has just been built in Walworth with a home loan from Santander. His conveyancer 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 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 Santander 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 Santander conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
When it comes to lenders such as Nottingham, do Walworth solicitors have to pay a fee to be on the conveyancing panel?
We are unaware of any mortgage company fees to register on their list of approved firms, although some do charge an administration charge to deal with the processing of the conveyancing panel application.
We have agreed to purchase a house in Walworth. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Principality be concerned?
As your lender is Principality your lawyer must check the formal instructions outlined in Part two of UK Finance Lenders’ Handbook for Principality. The CML Handbook sets out minimum specifications for solar panel roof-space leases, and lawyers are required to report to Principality where a lease fails to comply with these conditions. The specifications relate to the installation of panels on properties countrywide and is not limited to Walworth.
I have decided to exercise my right to buy my property in Walworth off the council. I have a mortgage agreed with Lloyds. Conveyancing is not something I have any knowledge of. 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 Lloyds, you will need to appoint a solicitor on the Lloyds conveyancing panel.
I am selling our house in Walworth and the buyers lawyers are claiming that there is a risk of it being constructed land that was not decontaminated. Any high street Walworth conveyancer would know this is not the case. For the life of me I don't know why the buyers instructed a factory type conveyancing outfit as opposed to a conveyancing solicitor in Walworth. Having lived in Walworth for 5 years we know that this is a non issue. Is it a good idea to get in touch with our local Authority to get confirmation that there is no issue.
It sounds as though you may have a conveyancing solicitor currently acting for you. What do they say? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
Yesterday I discovered that there is a flying freehold element on a house I put an offer in a fortnight ago in what should have been a straight forward, no chain conveyancing. Walworth is the location of the property. What do you suggest?
Flying freeholds in Walworth are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Walworth you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Walworth may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
Am I better off to appoint a Walworth conveyancing solicitor in close proximity to the house I am hoping to buy? An old friend can execute the legal formalities however his firm is located over three hundred miles away.
The benefit of a local Walworth conveyancing practice is that you can visit the firm to sign paperwork, deliver your ID and apply pressure on them if necessary. Having local Walworth know how is a benefit. However it's more important to get someone that will pull out all the stops for you. If other friends have instructed your friend and in the main were content that should outweigh using an unknown Walworth conveyancing solicitor solely due to them being round the corner.
Completion is due on our sale of a £375,000 flat in Walworth next week. The managing agents has quoted £312 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Walworth?
Walworth conveyancing on leasehold flats usually necessitates fees being levied by management companies :
-
Addressing pre-contract enquiries
Where consent is required before sale in Walworth
Supplying insurance information
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I am the registered owner of a first floor flat in Walworth. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the premium payable for a lease extension?
Where there is a absentee freeholder or if there is dispute about what the lease extension should cost, under the relevant statutes you can apply to the Leasehold Valuation Tribunal to determine the price payable.
An example of a Freehold Enfranchisement case for a Walworth property is 28 Valmar Road in June 2013. this was a case with an absentee freeholder. As a result the leaseholders applied to the Lambeth County Court for an order dispensing with the giving of a notice of claim. On 25 April 2013 District Judge Zimmels made a vesting order and directed that the matter should be transferred to this tribunal to determine the premium. The tribunal concluded on a figure of £1,125 This case was in relation to 3 flats. The number of years remaining on the existing lease(s) was 968 years.