My grandson is purchasing a newly built flat in Frant with a mortgage from Virgin Money. His conveyancer has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. Who needs to receive the form?
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 Virgin Money 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 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.
We are purchasing a house and need a conveyancing solicitor in Frant who is on the Barclays approved panel. Can you recommend a local firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Barclays . We don't recommend any particular firms conducting conveyancing in Frant.
My brother-in-law has suggested I instruct a conveyancing solicitor in Frant. I need to find out whether they are accepted on the Leeds Building Society conveyancing panel. Could you assist?
You should phone your lawyer and enquire whether they can act for the bank. Otherwise you should get in touch with Leeds Building Society who may be able to confirm.
Will our conveyancer be asking questions concerning flooding as part of the conveyancing in Frant.
The risk of flooding is if increasing concern for conveyancers dealing with homes in Frant. Some people will buy a property in Frant, fully expectant that at some time, it may be flooded. However, aside from the physical destruction, where a property is at risk of flooding, it may be difficult to get a mortgage, satisfactory insurance cover, or dispose of the premises. Steps can be carried out during the course of a house purchase to forewarn the buyer.
Solicitors are not best placed to give advice on flood risk, but there are a number of searches that can be initiated by the purchaser or by their solicitors which can give them a better appreciation of the risks in Frant. The standard completed inquiry forms given to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a usual inquiry of the seller to find out whether the premises has ever been flooded. If the premises has been flooded in past which is not notified by the seller, then a purchaser may issue a legal claim for losses resulting from an inaccurate answer. A purchaser’s lawyers will also order an environmental search. This should disclose if there is a recorded flood risk. If so, additional investigations should be conducted.
I am looking for a flat up to £235,500 and found one near me in Frant I like with a park and railway links in the vicinity, however it's only got 61 remaining years left on the lease. I can't really find anything else in Frant in this price bracket, so just wondered if I would be making a grave error buying a lease with such few years left?
If you need a home loan the remaining unexpired lease term may be a potential deal breaker. Discount the offer by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least 2 years you could ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this matter.
I’m about to sell my basement apartment in Frant. Conveyancing has not commenced, however I have just received a half-yearly maintenance charge demand – should I leave it to the buyer to sort out?
The sensible thing to do is clear the invoice as you normally would as all ground rent and maintenance invoices will be apportioned on completion, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
Frant Leasehold Conveyancing - A selection of Questions you should consider before Purchasing
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How many of the leaseholders are in arrears for their maintenance charge payments? Does the lease have onerous restrictions? How much is the yearly maintenance fee and ground rent?