My son is about to exchange on a house that has just been built in Hampton Wick with a home loan from Barclays. His lawyer has advised him of a delay in completing 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 Barclays conveyancing panel as a standard part of the process, and to the valuer 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 Barclays conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
It has been four months since my purchase conveyancing in Hampton Wick took place. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
The estate agent has sent us the confirmation of our purchase of a new build flat in Hampton Wick. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here are examples of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Hampton Wick
Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease.
I am thinking of appointing a conveyancing lawyer in Hampton Wick for my purchase. Can I review a firm’s record with the profession’s regulator?
One may find presented Solicitor Regulator Association (SRA) determinations stemming from investigations from 2008 onwards. Visit Check a solicitor's record. For information Pre 2008, or to check a solicitors history, ring 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, use +44 (0)121 329 6800. The SRA sometimes recorded call for training requirements.
Do you have any advice for leasehold conveyancing in Hampton Wick with the purpose of expediting the sale process?
- Much of the frustration in leasehold conveyancing in Hampton Wick can be reduced where you get in touch lawyers as soon as you market your property and request that they start to collate the leasehold documentation which will be required by the purchasers’ conveyancers. You may think that you are aware of the number of years left on your lease but you should verify this via your conveyancers. A buyer’s lawyer will be unlikely to recommend their client to where the lease term is under 80 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale. Some Hampton Wick leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their lawyers. If you have carried out any alterations to the property would they have required Landlord’s approval? Have you, for example installed wooden flooring? Most leases in Hampton Wick state that internal structural alterations or laying down wooden flooring necessitate a licence issued by the Landlord acquiescing to such alterations. If you dont have the paperwork in place do not contact the landlord without contacting your conveyancer in advance.
Notwithstanding our best endeavours, we have been unsuccessful in trying to purchase the freehold in Hampton Wick. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Most certainly. We are happy to put you in touch with a Hampton Wick conveyancing firm who can help.
An example of a Lease Extension case for a Hampton Wick premises is Flat D 15 Claremont Gardens in September 2013. TheTribunal determined in accordance with section48 and Schedule13 of the Leasehold Reform,Housing and Urban Development Act 1993 that the premium for the extended lease should be fourteen thousand one hundred and eighty seven pounds (£14,187.00) This case related to 1 flat.