My son is buying a house that has just been built in Biddulph with a mortgage from Santander. His lawyer has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
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 Santander 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 Santander conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Please explain the implications if my solicitor is removed from the Aldermore Conveyancing panel ahead of completing my conveyancing in Biddulph?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
My friend suggested that where I am purchasing in Biddulph I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is occasionally quoted for as part of the standard Biddulph conveyancing searches. It is a large report of about 40 pages, listing and setting out significant information about Biddulph around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Biddulph Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful information concerning Biddulph.
I have recentlybeen informed that Stirling Law have closed. They conducted my conveyancing in Biddulph for a purchase of a leasehold flat 10 months ago. How can I check that the property is in my name in the name of the former proprietor?
The easiest way to check if the property is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Biddulph conveyancing specialists.
Due to the encouragement of my in-laws I had a survey completed on a house in Biddulph prior to instructing conveyancers. I have been informed that there is a flying freehold element to the house. My surveyor advised that some banks tend not grant a mortgage on a flying freehold property.
It depends who your proposed lender is. Santander has different requirements for example to Halifax. If you call us we can look into this further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Biddulph. Conveyancing may be slightly more expensive based on your lender's requirements.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £325,000 flat in Biddulph in just under a week. The managing agents has quoted £408 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Biddulph?
Biddulph conveyancing on leasehold flats often requires the purchaser’s conveyancer sending enquiries for the landlord to answer. Although the landlord is not legally bound to respond to these enquiries most will be willing to assist. They are entitled to invoice a reasonable administration fee for answering questions or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is over three hundred pounds, in some situations it exceeds £800. The management information fee invoiced by the landlord must be accompanied by a synopsis of entitlements and obligations in respect of administration fees, otherwise the charge is technically not due. Reality however dictates that you have no choice but to pay whatever is requested of you should you wish to exchange contracts with the buyer.
Biddulph Leasehold Conveyancing - Sample of Questions you should ask Prior to Purchasing
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The answer will be important as a) areas can result in problems in the block as the communal areas may begin to deteriorate if services are not paid for b) if the leasehold owners have an issue with the running of the building you will need to have all the details Does this lease have in excess of 80 years left? What is the service charge and ground rent on the flat?