Our god-son is purchasing a house that has just been built in Charterhouse with a home loan from Nottingham. His conveyancer has said that there is 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 Nottingham conveyancing panel as a standard part of the process, and to the surveyor 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 Nottingham conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
We are getting a further advance on our home loan from Lloyds as we wish to carry out alterations to our property in Charterhouse. Do we need to appoint a bricks and mortar Charterhouse solicitor on the Lloyds conveyancing panel to handle the legals?
Lloyds don't usually require a member of their approved list of lawyers to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Lloyds conveyancing panel.
Planning on purchasing a maisonette in Charterhouse. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the RBS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Charterhouse conveyancer is on the RBS conveyancing panel.
I've digested plenty of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Charterhouse solicitor - who is on the UBS conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
UBS will need an independent valuation of the property. Your lawyer will not arrange this. Usually UBS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Charterhouse surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Despite weeks of looking the Title Certificate and documents to my house can not be found. The conveyancers who did the conveyancing in Charterhouse 5 years ago have long since closed. Will I be able to sell the house?
Assuming the title is registered the details of your proprietorship will be held by the Land Registry under a Title Number. It is easy to conduct a search at the Land Registry, find your house and obtain up to date copies of the Registered Entries for a small fee. If the title is Leasehold then the Land Registry will in most cases hold a certified duplicate of the Registered Lease and again, a copy can be obtained for a small fee.
How does conveyancing in Charterhouse differ for new build properties?
Most buyers of new build premises in Charterhouse contact us having been asked by the seller to exchange contracts and commit to the purchase even before the residence is built. This is because builders in Charterhouse tend to purchase the real estate, 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 conveyancers 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 Charterhouse or who has acted in the same development.
I opted to have a survey carried out on a property in Charterhouse ahead of appointing lawyers. I have been informed that there is a flying freehold aspect to the house. Our surveyor has said that some lenders tend refuse to give a mortgage on this type of house.
It depends who your proposed lender is. Lloyds has different requirements from Nationwide. Should you wish to telephone us we can investigate further with the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Charterhouse. Conveyancing will be smoother if you use a solicitor in Charterhouse especially if they regularly deal with such properties in Charterhouse.
I've found a house that seems to tick a lot of boxes, at a reasonable price which is making it more attractive. I have subsequently discovered that the title is leasehold rather than freehold. I would have thought that there are issues buying a leasehold house in Charterhouse. Conveyancing solicitors have are soon to be appointed. Will they explain the issues?
The majority of houses in Charterhouse are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Charterhouse so you should seriously consider looking for a Charterhouse conveyancing solicitor and be sure that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. Being a tenant you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as obtaining the freeholder’sconsent to conduct alterations. It may be necessary to pay a contribution towards the maintenance of the communal areas where the house is part of an estate. Your conveyancer should advise you fully on all the issues.
I own a ground-floor 1960’s flat in Charterhouse. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the premium due for a lease extension?
Absolutely. We can put you in touch with a Charterhouse conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Charterhouse premises is Flat 89 Trinity Court Grays Inn Road in February 2013. the Tribunal found that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 to the Leasehold Reform, Housing and Urban Development Act 1993 should be £36,229. This case related to 1 flat. The unexpired term as at the valuation date was 66.8 years.