My god-son is purchasing a new build apartment in West Drayton with a home loan from HSBC. His conveyancer has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The document is intended to provide information to the main parties involved in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the HSBC 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 HSBC conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I purchased a freehold property in West Drayton but still pay rent, why is this and what is this?
It’s unusual for properties in West Drayton and has limited impact for conveyancing in West Drayton but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the establishment of new rentcharges post 1977.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
We have agreed to purchase a house in West Drayton. An unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Coventry BS be concerned?
As you are obtaining a mortgage with Coventry BS your lawyer must comply with the formal instructions contained in Part two of UK Finance Lenders’ Handbook for Coventry BS. The CML Handbook sets out minimum conditions for solar panel roof-space leases, and solicitors are required to report to Coventry BS where a lease fails to comply with these conditions. The conditions relate to the installation of panels on properties in England and Wales and is not limited to West Drayton.
My wife and I are at the point of viewing flats in West Drayton and I am now considering a potential offer. Is it wise to have a conveyancer on ‘stand by’? I will be getting a home loan with Leeds Building Society.
It would be sensible to instigate your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their contact information on to the estate agent. As you are obtaining a mortgage with Leeds Building Society, make sure you remember to check that your lawyer is on the Leeds Building Society conveyancing panel.
After what seems like an age I have had an offer on an apartment in West Drayton agreed to, but there is a chain. The owners have offered on somewhere, but it’s not been accepted yet, and have viewings of other apartments booked. I have chosen a nearby conveyancing solicitor in West Drayton. What should be my next step? At what stage should I apply for the mortgage with UBS?
It is normal to have anxieties where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is in the region of £1k, then valuation, West Drayton conveyancing search fees, etc). The first thing to do is check that your solicitor is on the UBS conveyancing panel. Regarding the next steps this very much depends on the specifics of your case, attraction to the property and on the state of the market. In a rising market the majority of home buyers would apply for a home loan with UBS and arrange for the valuation and only if it comes back ok would they ask their lawyer to proceed with searches.
How does conveyancing in West Drayton differ for newly converted properties?
Most buyers of new build property in West Drayton approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is ready to move into. This is because house builders in West Drayton usually buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in West Drayton or who has acted in the same development.
Is it possible to transfer to a new conveyancer as I have to choose one who is on the Nationwide Building Society conveyancing list. I was using a local conveyancing solicitor in West Drayton round the corner but he is not approved by Nationwide Building Society
It would be our pleasure to help you select a conveyancing solicitor in West Drayton on the Nationwide Building Society panel. Please note that the conveyancers that we on the directory do not pay us a referral fee if you instruct them and are fully regulated by the Solicitors Regulation Authority who regulate all conveyancing solicitors in West Drayton. In making use of the find a conveyancing solicitor tool on this website, you can scrutinise charges for conveyancing solicitors in West Drayton and throughout England and Wales.
Estate agents have just been given the go-ahead to market my ground floor apartment in West Drayton. Conveyancing is yet to be initiated, however I have recently had a quarterly service charge demand – what should I do?
It best that you clear the invoice as normal because all ground rent and service charges should be allotted as part of the financial calculations for completion monies, so you will be reimbursed by the purchaser for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I am the registered owner of a a ground floor purpose built flat in West Drayton. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the sum due for a lease extension?
You certainly can. We are happy to put you in touch with a West Drayton conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a West Drayton property is 164 Nestles Avenue in October 2013. The tribunal agreed with the proposed price of £20,158 for the freehold and determined that that sum is the amount to be paid into court This case related to 2 flats. The unexpired term as at the valuation date was 69 years.