Our grandson is about to exchange on a newly built flat in Edenbridge with a mortgage from Santander. His conveyancer 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 involved 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 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 Santander conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
How do I investigate if the solicitor carrying out my conveyancing in Edenbridge is on the mortgage lender’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for Birmingham Midshires thus paying £175.00 in additional legal fees.
You should make the most of the find a lender approved solicitor tool on this site. Pick the mortgage company and type ‘Edenbridge’ or your location and you will discover numerous conveyancers offices in Edenbridge or nearest you.
Is it simple use the search tool to find a conveyancing practitioner in Edenbridge on the authorised to act for my mortgage?
Step one is to choose a mortgage company such as Accord Mortgages Ltd, Virgin Money or Alliance & Leicester then type in your preferred area e.g. Edenbridge. Conveyancing practices in Edenbridge and beyond should be shown.
My husband and I are new to the buying process - had an offer accepted, but the estate agent advised that the owners will only move forward if we appoint the agent's chosen lawyers as they want an ‘expedited deal’. Our preferred option is to instruct a local conveyancer accustomed to conveyancing in Edenbridge
It is improbable the vendors are behind this. If they require ‘a quick sale', turning down a genuine purchaser is is going to put the whole deal at risk. Speak to the owners direct and make the point that (a)you are genuine buyers (b)you are ready to go, with mortgage lined up © you are chain free (d) you intend to proceed fast (e)but you will continue to use your preferred Edenbridge conveyancing solicitors - rather thanthe ones that will earn the negotiator at the agency a commission or hit his conveyancing targets pre-set by corporate headquarters.
Do you have any top tips for leasehold conveyancing in Edenbridge from the perspective of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Edenbridge can be bypassed where you get in touch lawyers the minute your agents start marketing the property and request that they start to put together the leasehold information which will be required by the buyers’ solicitors. In the event that you altered the property did you need the Landlord’s consent? In particular have you installed wooden flooring? Edenbridge leases often stipulate that internal structural alterations or installing wooden flooring necessitate a licence issued by the Landlord acquiescing to such changes. If you fail to have the consents in place you should not communicate with the landlord without checking with your solicitor first. If you have had any disputes with your freeholder or managing agents it is essential that these are resolved prior to the flat being put on the market. The purchasers and their solicitors will be nervous about purchasing a flat where a dispute is ongoing. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is better to present the dispute as historic rather than ongoing. You may think that you are aware of the number of years left on your lease but you should verify this by asking your conveyancers. A purchaser's lawyer will not be happy to advise their client to to exchange contracts if the lease term is below 80 years. In the circumstances it is important at an as soon as possible that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.
Edenbridge Leasehold Conveyancing - Examples of Questions you should ask before Purchasing
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Who manages the block? The answer will be helpful as a) areas could cause problems for the building as the common areas may start to deteriorate where repairs are not paid for b) if the leasehold owners have an issue with the running of the building you will wish to have full disclosure It would be prudent to find out as much as possible about the company managing the building as they can either make life much easier or uncomfortable. Being a leasehold owner you will be in the clutches of the managing agents both financially and when it comes to practical matters such as the tidiness of the common parts. You should not be shy to ask prospective neighbours what they think of them. On a final note, investigate as to the dates that the service fees are due to the appropriate party and precisely what it includes.
I'm purchasing a flat in Edenbridge. I can find my conveyancer's company on the Law Society's list, but I can't find my lawyer's name as listed on the regulator's website. Is this a big problem?
Not every individual in the practice must be listed by the regulator. As long there is a manager qualified to 'oversee' the transaction, the actual day-to-day activity can be conducted by unqualified staff.