My son-in-law is purchasing a newly built flat in Arnos Grove with a home loan from Clydesdale. 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 Clydesdale 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 Clydesdale conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Please help - my lawyer advises that flying freehold insurance is necessary on my purchase. What is the level of cover for Arnos Grove conveyancing?
The right level of flying freehold indemnity insurance depends on your lender. It would differ for example between Nationwide Building Society and Leeds Building Society. Conveyancing lawyers as opposed to borrowers take out such policies.
Can you point me to a directory of Lloyds panel solicitors in Arnos Grove on the Building Society Association’s Website?
Unfortunately not yet. There is no such tool on the Council of Mortgage Lenders or Building Society Association sites. A small selection of mortgage companies make their panel listings visible over the internet. Where you are looking for a Arnos Grove solicitor on the Lloyds please use our facility.
I was told four weeks ago that my mortgage has been agreed to by Yorkshire BS. Is it usual for Yorkshire BS to only issue the offer once my solicitor in Arnos Grove is approved on their conveyancing panel? Yorkshire BS have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Yorkshire BS to deal with your lawyer's application to be on the Yorkshire BS conveyancing panel. There's no guarantee that your solicitor will be accepted.
My relative advised me that if I am buying in Arnos Grove I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is usually quoted for as part of the standard Arnos Grove conveyancing searches. It is a large document of more than thirty pages, listing and detailing significant information about Arnos Grove around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Arnos Grove Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Arnos Grove Education with plans and statistics, Local Amenities and other useful information about Arnos Grove.
I am buying my first flat in Arnos Grove with the aid of help to buy. The builders refused to move on the price so I negotiated £7000 of fixtures and fittings instead. The estate agent advised me not to tell my lawyer about this deal as it will impact my mortgage with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I am thinking of appointing a conveyancing solicitor in Arnos Grove for my house move. Is there any facility to see a firm’s record with the profession’s regulator?
One can search for presented Solicitor Regulator Association (SRA) decisions arising from inquisitions from 2008 onwards. Go to Check a solicitor's record. To find details about the period before 1 January 2008, or to check a solicitors history, ring 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, dial +44 (0)121 329 6800. The SRA sometimes monitor call for training purposes.
I’m about to sell my 2 bed flat in Arnos Grove. Conveyancing is yet to be initiated, however I have just received a half-yearly maintenance charge invoice – what should I do?
Your conveyancing lawyer is likely to suggest that you should clear the service charge as usual given that all rents and maintenance payments should be allotted as part of the financial calculations for completion monies, so you will be reimbursed by the buyer for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
We have reached the end of our tether in trying to purchase the freehold in Arnos Grove. Can this matter be resolved via the Leasehold Valuation Tribunal?
if there is a missing freeholder or where there is dispute about what the lease extension should cost, under the relevant statutes you can apply to the LVT to assess the amount due.
An example of a Freehold Enfranchisement case for a Arnos Grove flat is 23 Beaconsfield Road in July 2013. The Tribunals decided that the amount payable was £31,203 for the freehold. This case affected 2 flats. The unexpired term as at the valuation date was 70.31 years.