My god-son is buying a newly built flat in Chichester with a mortgage from Nationwide. His conveyancer has advised him of a delay in completing 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 involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Nationwide conveyancing panel as a standard part of the process, and to the valuer when asked. 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 Nationwide conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Do conveyancers request an advanced payment for conveyancing in Chichester?
If you are buying a property in Chichester your lawyer will ask you to provide them with funds to cover the the cost of the conveyancing searches. This will be the total of the cost of the conveyancing searches. When the deposit is payable against the total price then this will be asked for immediately in advance of contracts are exchanged. The closing balance that is due should be sent to your lawyer a few days prior to the completion date.
Are the BSA planning on creating a searchable register to list practices on the Norwich and Peterborough Building Society conveyancing panel for example in Chichester?
We have not been informed any plans on the part of the BSA to promote such a search facility.
I'm buying a new build house in Chichester with a mortgage from Barclays Direct. The developers refused to budge the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The property agent advised me not disclose to my conveyancer about this extras as it may impact my loan 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 need to instruct a conveyancing solicitor in Chichester for my home move. Is it possible to see a solicitor's complaints history with the profession’s regulator?
Anyone can find published Solicitor Regulator Association (SRA) determinations stemming from inquisitions from 2008 onwards. Go to Check a solicitor's record. To find information Pre 2008, or to check a firm's record, telephone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. International callers, use +44 (0)121 329 6800. The regulator could monitor telephone calls for training reasons.
I am on look out for some leasehold conveyancing in Chichester. Before diving in I want to be sure as to the number of years remaining on the lease.
If the lease is recorded at the land registry - and most are in Chichester - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I inherited a 2 bed flat in Chichester, conveyancing formalities finalised in 2006. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Chichester with a long lease are worth £192,000. The ground rent is £55 per annum. The lease ceases on 21st October 2079
With only 54 years left to run the likely cost is going to range between £32,300 and £37,400 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.