My son is in the process of securing a new build apartment in Ardleigh Green with a home loan from Aldermore. 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 involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Aldermore 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 Aldermore conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
As I am unsure how the conveyancing process works what is the most important piece of guidance you can give me regarding purchase conveyancing in Ardleigh Green?
You may not hear this from too many lawyers but conveyancing in Ardleigh Green and elsewhere in England and Wales is often a confrontational experience. In other words, when it comes to conveyancing there exists lots of room for confrontation between you and others involved in the legal transfer of property. E.g., the vendor, selling agent and on occasion the mortgage company. Appointing a solicitor for your conveyancing in Ardleigh Green is a critical decision as your conveyancer is your adviser, and is the SOLE party in the process whose interest is to protect your best interests and to keep you safe.
On occasion a third party with a vested interest will attempt to convince you that it is in your interests to do things their way. For instance, the selling agent may claim to be helping by claiming that your lawyer is dragging his heels. Or your mortgage broker may try to convince you to do take action that is contrary to your lawyers recommendation. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
My wife and I are buying a property in Ardleigh Green. It might be a silly question but how we can trust a lawyer? At some point we have to deposit our life savings into their account. What protection do we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
My husband and I have arranged the release of further monies on our home loan from Barclays as we intend to conduct alterations to our property in Ardleigh Green. Do we need to select a bricks and mortar Ardleigh Green solicitor on the Barclays conveyancing panel to handle the paperwork?
Barclays don't usually instruct a member of their approved list of lawyers to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Barclays list.
I am selling my apartment. I had a double glazing fitted in February 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Nationwide are being a right pain. The Ardleigh Green solicitor who is on the Nationwide conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Nationwide are insisting on a building regulation certificate. Why do Nationwide have a conveyancing panel if they don't accept advice from them?
It is probably the case that Nationwide have referred the matter to their valuer. The reason why Nationwide 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.
How does conveyancing in Ardleigh Green differ for new build properties?
Most buyers of new build residence in Ardleigh Green contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the house is finished. This is because house builders in Ardleigh Green typically buy the land, 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 property lawyers 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 used to new build conveyancing in Ardleigh Green or who has acted in the same development.
I am attracted to a couple of maisonettes in Ardleigh Green both have in the region of forty five years unexpired on the lease term. Do I need to be concerned?
There is no doubt about it. A leasehold flat in Ardleigh Green is a wasting asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it adversely affects the salability of the premises. The majority of buyers and mortgage companies, leases with under eighty years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property 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 premises 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 Ardleigh Green conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend 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.
I am the leaseholder of a first floor flat in Ardleigh Green. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the sum due for a lease extension?
You certainly can. We can put you in touch with a Ardleigh Green conveyancing firm who can help.
An example of a Lease Extension case for a Ardleigh Green premises is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case was in relation to 1 flat. The unexpired term as at the valuation date was 57.5 years.
We recently become aware that one of the partners of the solicitors undertaking the purchase conveyancing in Ardleigh Green is an aunty of the owners that we are purchasing from. Is this allowed?
On the basis that no conflict arises this is permitted. Where you are obtaining mortgage finance then the bank may have a say as many banks have specific requirements concerning this. For example for Yorkshire Building Society as of 16/4/2021, the requirements read as follows :
* there is no conflict of interest and none arises during the transaction
* the firm is a partnership
* the conveyancer acting is not the borrower or a member of the borrower's immediate family