Our nephew is purchasing a newly built flat in Drybrook with a mortgage from Aldermore. His lawyer 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 transaction. Therefore, it will be provided to your son’s lawyer who should be on the Aldermore 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 Aldermore conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Have completed on a a semi-detached house in Drybrook , What is the estimated time for the Land Registry to register my proprietorship? My Drybrook conveyancing solicitor has been painfully slow, so I want to be sure the registration is dealt with.
As far as conveyancing in Drybrook registration is no faster or slower than the rest of the country. Rather than based on location, timescales can adjust according to who lodges the application, whether it is in order and if the Land registry communicate with any other parties. At present in the region of three quarters of such applications are fully addressed in less than three weeks but some can be subject to longer hold-ups. Registration takes place after the new owner has moved in to the premises thus an expedited registration is not always top priority yet if there is a degree of urgency associated with the registration then you or your conveyancer can contact the land registry and explain the circumstances.
I decided to have a survey done on a property in Drybrook before instructing conveyancers. I have been advised that there is a flying freehold element to the property. Our surveyor has said that some banks will not grant a mortgage on such a house.
It depends who your proposed lender is. Lloyds has different instructions for example to Halifax. If you contact us we can look into this further via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Drybrook. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Drybrook to see if the conveyancing costs will increase in light of this.
I am in need of some leasehold conveyancing in Drybrook. Before diving in I would like to find out the remaining lease term.
Assuming the lease is recorded at the land registry - and almost all are in Drybrook - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I invested in buying a 1 bedroom flat in Drybrook, conveyancing having been completed half a dozen years ago. Can you work out an approximate cost of a lease extension? Similar properties in Drybrook with over 90 years remaining are worth £186,000. The average or mid-range amount of ground rent is £55 per annum. The lease terminates on 21st October 2073
With only 53 years remaining on your lease the likely cost is going to be between £27,600 and £31,800 as well as costs.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.
My cousin is buying a studio flat in Drybrook. He was given a quote by the lawyer connected to the selling agents and it came to £1275 . It was eight years ago I sold and purchased a house and the bill was £500. Have charges really gone up that much?
We would recommend that you call 3 or 4 local Drybrook conveyancing firms seeking prices. You should base your selection not solely on cost, but on promptness and on how comprehensive the response was.