Our son-in-law is in the process of securing a newly built flat in Tower Hill with a home loan from UBS. His lawyer 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 document is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the UBS 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 UBS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
When it comes to mortgage companies such as Barclays, do Tower Hill solicitors face a yearly amount to be on the conveyancing panel?
We are unaware of any mortgage company fees to register on their list of approved firms, although some do charge an administration fee to deal with the processing of the conveyancing panel submission.
My husband and I have organised the release of further monies on our home loan from Yorkshire BS as we want to conduct alterations to our house in Tower Hill. Are we obliged to appoint a nearby Tower Hill solicitor on the Yorkshire BS conveyancing panel to handle the paperwork?
Yorkshire BS would not normally appoint a member of their approved list of lawyers to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Yorkshire BS conveyancing panel.
I am selling my apartment. I had a double glazing fitted in September 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Virgin Money are being a right pain. The Tower Hill solicitor who is on the Virgin Money conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Virgin Money are insisting on a building regulation certificate. Why do Virgin Money have a conveyancing panel if they don't accept advice from them?
It is probably the case that Virgin Money have referred the matter to their valuer. The reason why Virgin Money may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
What does a local search tell me about the property we're purchasing in Tower Hill?
Tower Hill conveyancing often starts with the ordering local authority searches directly from your local Authority or through a personal search organisations such as Searchflow The local search plays a central part in most Tower Hill conveyancing purchase; as long as you wish to avoid any nasty once you have moved into your new home. The search should provide information on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic sections.
Completion is due on our sale of a £400,000 garden flat in Tower Hill next week. The management company has quoted £396 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Tower Hill?
For the majority of leasehold sales in Tower Hill conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
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Addressing pre-contract questions
Where consent is required before sale in Tower Hill
Supplying insurance information
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
My wife and I have hit a brick wall in negotiating a lease extension in Tower Hill. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Where there is a missing landlord or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to decide the price.
An example of a Freehold Enfranchisement case for a Tower Hill property is 1-41 Royal Tower Lodge 40 Cartwright Street in April 2013. the tribunal adding the agreed value of capitalised ground rents and the reversion the price to be paid for the freehold was £1,187,000 This case related to 41 flats. The unexpired residue of the current lease was 107 years.
Having used your search tool I can't find the lawyer I was hoping to instruct as being on the lender conveyancing panel. My lawyer has said that they are on the mortgage company approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the mortgage company conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the lender solicitor panel.