Our son-in-law is in the process of securing a house that has just been built in Brighouse with a home loan from Virgin Money. 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 document is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Virgin Money 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 Virgin Money conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Despite weeks of looking the Title Certificate and documents to our property are lost. The lawyers who dealt with the conveyancing in Brighouse 5 years ago have long since closed. What are my options?
These day there are duplicates made of almost everything, and your lawyer should know exactly where to look for all the relevant documentation so you may purchase or sell your property without any difficulty. Where copies can’t be found, your lawyer may be able to arrange cover in the form of insurance or indemnities against future claims on your property.
How does conveyancing in Brighouse differ for new build properties?
Most buyers of new build premises in Brighouse come to us having been asked by the developer to exchange contracts and commit to the purchase even before the property is finished. This is because builders in Brighouse tend to acquire 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 conveyancing solicitors 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 Brighouse or who has acted in the same development.
I have been on the look out for a leasehold apartment up to £305k and identified one round the corner in Brighouse I like with amenity areas and transport links nearby, the downside is that it only has 51 years on the lease. I can't really find anything else in Brighouse for this price, so just wondered if I would be making a mistake acquiring a short lease?
If you require a home loan the remaining unexpired lease term will likely be a potential deal breaker. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of 2 years you can ask them to commence the lease extension formalities and pass 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 lawyer about this matter.
I'm remortgaging my primary home to a BTL mortgage with Leeds Building Society and I will use the ballance of the raised equity as a deposit on another house. The neighborhood we are interested in is Brighouse. Will your conveyancers be able to act for both sets of mortgage companies and tie in the conveyances?
Do use our search tool on this page to ensure that the lawyers are approved by both mortgage companies. On the basis that they are the solicitor should be able to connect the two transactions but you should have a chat with you conveyancer and communicate your desired outcome and needs.
I am attracted to a couple of flats in Brighouse both have about fifty years left on the lease term. Will this present a problem?
A lease is a right to use the property for a period of time. As a lease gets shorter the value of the lease decreases and results in it becoming more costly to acquire a lease extension. This is why it is often a good idea to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this arena.
Leasehold Conveyancing in Brighouse - Sample of Queries before Purchasing
Is the freehold owned collectively by the leaseholders? This question is useful as a) areas can result in problems in the block as the communal areas may begin to deteriorate if services remain unpaid b) if the leasehold owners have an issue with the managing agents you will want to have complete disclosure