My grandson is purchasing a newly built flat in Kirkheaton with a mortgage from Coventry BS. His conveyancer has said that there is 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 involved in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Coventry BS 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 Coventry BS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I am the registered owner of a freehold house in Kirkheaton but nevertheless invoiced for rent, why is this and what is this?
It’s unusual for properties in Kirkheaton and has limited impact for conveyancing in Kirkheaton 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 date back many centuries, but the Rent Charge Act 1977 barred the establishment of new rentcharges post 1977.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Kirkheaton. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here are examples of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Kirkheaton
Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? There must be mutual enforceability of lessee’s covenants. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal.
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. Kirkheaton is where the house is located. Can you shed any light on this issue?
Flying freeholds in Kirkheaton are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Kirkheaton you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Kirkheaton 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 property.
I have recently realised that I have Fifty years left on my flat in Kirkheaton. I am keen to get lease extension but my landlord is missing. What should I do?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. You will be obliged to prove that you or your lawyers have used your best endeavours to find the lessor. For most situations an enquiry agent should be useful to conduct investigations and to produce a report to be used as evidence that the landlord is indeed missing. It is wise to seek advice from a conveyancer in relation to proving the landlord’s absence and the vesting order request to the County Court covering Kirkheaton.
I am the registered owner of a split level flat in Kirkheaton, conveyancing having been completed 9 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar flats in Kirkheaton with an extended lease are worth £201,000. The ground rent is £45 levied per year. The lease finishes on 21st October 2083
With 65 years left to run we estimate the price of your lease extension to range between £13,300 and £15,400 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.