Our god-son is about to exchange on a new build apartment in Kings Langley with a mortgage from . His solicitor has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The document 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 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 conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
My partner and I are selling our home in Kings Langley and the buyers lawyers are claiming that there is a risk of it being built on contaminated land. Any high street Kings Langley conveyancer would know that there is no such problem. For the life of me I don't know why the purchasers are using a nationwide conveyancing outfit as opposed to a conveyancing solicitor in Kings Langley. Having lived in Kings Langley for six years we know that this is a non issue. Is it a good idea to contact our local Authority to obtain clarification that the buyers are looking for.
It sounds as though you may have a conveyancing solicitor already. Are they able to advise? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
Are there restrictive covenants that are commonly identified as part of conveyancing in Kings Langley?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Kings Langley. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Over the last few months I have been searching for a flat up to £195,000 and identified one round the corner in Kings Langley I like with open areas and station in the vicinity, however it's only got 52 years on the lease. There is not much else in Kings Langley suitable, so just wondered if I would be making a mistake acquiring a short lease?
Should you need a home loan the remaining unexpired lease term may be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least twenty four months you could ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this matter.
I inherited a studio flat in Kings Langley, conveyancing having been completed 3 years ago. Can you work out an approximate cost of a lease extension? Corresponding properties in Kings Langley with an extended lease are worth £165,000. The ground rent is £45 levied per year. The lease ends on 21st October 50
With 50 years unexpired we estimate the price of your lease extension to range between £36,100 and £41,800 as well as costs.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.