Our god-son is buying a new build apartment in New Covent Garden with a home loan from RBS. His lawyer has advised him of a delay in receiving 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 engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the RBS 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 RBS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Will my conveyancing lawyers need to check that the building insurance for my purchase of a house in New Covent Garden. My lender is Tesco Bank
Tesco Bank have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 20/2/2019, the requirements read as follows :
Is it possible to switch solicitor as I have to find one who is on the HSBC Bank conveyancing list. I instructed a high street conveyancing solicitor in New Covent Garden five minutes from me but she is not accepted by HSBC Bank
We will our best to assist in finding you a conveyancing solicitor in New Covent Garden on the HSBC Bank panel. Please note that the law firms that we on the directory do not pay us fee if you instruct them and are regulated by the SRA who regulate all conveyancing solicitors in New Covent Garden. In making use of search facility on this page, you can compare and instruct different solicitors and conveyancers both nationally and in New Covent Garden.
I am on look out for some leasehold conveyancing in New Covent Garden. Before diving in I want to be sure as to the remaining lease term.
If the lease is recorded at the land registry - and 99.9% are in New Covent Garden - then the leasehold title will always include the short particulars 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 New Covent Garden, conveyancing formalities finalised half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Similar flats in New Covent Garden with an extended lease are worth £265,000. The ground rent is £50 charged once a year. The lease finishes on 21st October 2095
With just 76 years left to run we estimate the price of your lease extension to range between £8,600 and £9,800 plus costs.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.
Are you able to shed any light on the aspects of conveyancing dealt with by New Covent Garden conveyancing practices?
On the whole New Covent Garden conveyancing companies manage to provide various assistance to home and land proprietors, sellers, first time buyers, landlords and leaseholders which may include:
Residential sale conveyancing in New Covent Garden or wider afield
Property purchase conveyancing in New Covent Garden and beyond
Grant and Assignment of Leases New Covent Garden conveyancing for property forfeited by a lender Residential conveyancing using Islamic Mortgages Remortgaging arrangements