Our grandson is in the process of securing a newly built flat in Glenfield with a home loan from Santander. His solicitor has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
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 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.
I own a freehold premises in Glenfield yet invoiced for rent, why is this and what is this?
It is rare for properties in Glenfield and has limited impact for conveyancing in Glenfield but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the generation of fresh rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.
If you had a top tip for selecting a conveyancing solicitor in Glenfield what would it be?
It would be unwise to be tempted by the lowest Glenfield conveyancing fees. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
We are purchasing a terrace house in Glenfield. We would like to an extension at the rear at the property.Will the conveyancing process involve investigations to determine if these alterations were previously refused?
Your conveyancer should review the registered title as conveyancing in Glenfield can occasionally identify restrictions in the title deeds which prohibit categories of changes or require the consent of another owner. Certain additions require local authority planning consent and approval in compliance with building regulations. Some areas are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. You should check these things with a surveyor ahead of any purchase.
My lawyer has informed me that absentee landlord insurance is needed on my purchase. What is the level of cover for Glenfield conveyancing?
The right level of absentee landlord indemnity insurance depends on who your lender is. It would differ for example between Accord Mortgages Ltd and Bank of Scotland. Conveyancing lawyers as opposed to borrowers take out such policies.
I am buying a property and the conveyancer has raised the issue of Chancel Repair to which the property may be liable given it’s proximity to the area of such a church. He has recommended insurance. Is this really required for conveyancing in Glenfield
Unless a previous purchase of the premises completed post 12 October 2013 you could expect conveyancing practitioners carrying out conveyancing in Glenfield to continue to advocate a chancel search and or chancel repair liability insurance.
I'm converting the mortgage on my current home to a buy to let mortgage with HSBC Bank and intend to use the remaining equity as a down payment on a second house. The location we are talking about is Glenfield. Will your lawyers be able to act for the two mortgage companies and link together the conveyances?
Make use of our comparison tool on this page to check that the lawyers are approved by both mortgage companies. Assuming that they are your solicitor should be able to connect the two transactions but you should talk with you lawyer and make clear your desired outcome and requirements.
Is it true that a Glenfield conveyancing practice taken to court by clients for not carrying out comprehensive conveyancing investigations?
We are not aware of such a Glenfield conveyancing matter but it has been reported that, a couple acquiring a house elsewhere in England successfully won a claim against their solicitor due to development plans to erect a wind farm failing to be identified in conveyancing searches.
If you are buying in Glenfield It is important that your conveyancing practitioner purchase all Glenfield conveyancing searches necessary making sure that you have accurate and current information before buying a property.