I have just been advised by my broker that my Downe solicitor is not on the bank Solicitor panel. What can I do to be sure that this is correct?
Your first step should be to call your Downe lawyer directly. It is reasonable to expect your lawyer to notify you what has happened. If they are not on the panel they may be able to suggest a Downe conveyancing firm that is on the approved list of lawyers for your lender.
Our god-son is in the process of securing a new build apartment in Downe with a mortgage from Santander. His lawyer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The document 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 Santander 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 Santander conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
We just had an offer accepted to buy with Earl Shilton BS. We have called around locally but cant to find a Downe conveyancing firm on the Earl Shilton BS panel. Please you help?
You should take advantage of the search tool on this web page. Pick the building society and type Downe or your preferred area and you will discover numerous solicitors based in Downe or near you.
I am buying a new build apartment in Downe. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below are examples of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Downe
The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Please supply a car parking plan. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Forfeiture - bankruptcy or liquidation must not apply under this provision. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal.
I today plan to offer on a house that appears to meet my requirements, at a reasonable price which is making it more attractive. I have subsequently found out that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Downe. Conveyancing advisers have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in Downe ?
Most houses in Downe are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area who can assist with the conveyancing process. it is apparent that you are purchasing in Downe in which case you should be looking for a Downe conveyancing solicitor and check that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. As 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 changes to the property. It may be necessary to pay a maintenance charge towards the maintenance of the estate where the property is part of an estate. Your conveyancer will report to you on the legal implications.
We have reached the end of our tether in trying to purchase the freehold in Downe. Can this matter be resolved via the Leasehold Valuation Tribunal?
Where there is a missing landlord or if there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the First-tier Tribunal (Property Chamber) to make a decision on the price.
An example of a Lease Extension case for a Downe residence is 1 Southlands Court Southlands Road in September 2013. The Leasehold Valuation Tribunal determined that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 was £30,541 This case was in relation to 1 flat. The unexpired lease term was 50.57 years.
Should I be worried if there is a problem with one of the searches for our conveyancing in Downe?
On the whole, almost all concerns arising from Downe conveyancing search responses can be handled prior to completion or title insurance can be obtained. You should note that although you intend on acquiring the premises and may be content to accept the search results, your lender may not, and when all said and done they have the word say.