My grandson is about to exchange on a house that has just been built in Turnham Green with a mortgage from RBS. His solicitor has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. Who needs to receive the form?
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 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 RBS 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 looking to buy a flat and need a conveyancing solicitor in Turnham Green who is on the The Mortgage Works solicitor. Could you point me in the right direction as regards a solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for The Mortgage Works in certain locations such as Turnham Green. We dont recommend any particular firm.
How does conveyancing in Turnham Green differ for new build properties?
Most buyers of new build premises in Turnham Green approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is constructed. This is because builders in Turnham Green usually acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Turnham Green or who has acted in the same development.
My step-father has recommend that I instruct his conveyancing solicitors in Turnham Green. Should I find my own conveyancer?
No doubt the ideal way to choose a conveyancing practitioner is to seek feedback from friends or family who have actually used the firm you're contemplating using.
I am tempted by the attractive purchase price for a couple of apartments in Turnham Green both have about 50 years unexpired on the lease term. Do I need to be concerned?
There are no two ways about it. A leasehold flat in Turnham Green is a wasting asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it adversely affects the marketability of the property. The majority of buyers and banks, leases with less than eighty years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Turnham Green conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Having spent months of correspondence we are unable to agree with our landlord on how much the lease extension should cost for our flat in Turnham Green. Can we issue an application to the Residential Property Tribunal Service?
Most certainly. We can put you in touch with a Turnham Green conveyancing firm who can help.
An example of a Lease Extension case for a Turnham Green premises is Flat 1 30 Ennismore Avenue in September 2010. the Tribunal adopted and arrived at a premium for the lease extension of £29, 900 This case related to 1 flat. The number of years remaining on the existing lease(s) was 68.34 years.