My god-son is purchasing a newly built flat in Handforth with a home loan from Barclays. His lawyer 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 Barclays 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 Barclays conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Should my solicitor be raising questions about flooding during the conveyancing in Handforth.
Flooding is a growing risk for lawyers dealing with homes in Handforth. There are those who purchase a property in Handforth, completely aware that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, where a property is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or dispose of the premises. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Lawyers are not best placed to offer advice on flood risk, but there are a number of searches that can be carried out by the buyer or by their solicitors which can give them a better appreciation of the risks in Handforth. The conventional set of completed inquiry forms sent to a purchaser’s solicitor (where the Conveyancing Protocol is adopted) contains a usual inquiry of the seller to find out whether the premises has historically flooded. If the property has been flooded in past and is not notified by the seller, then a purchaser may bring a compensation claim as a result of such an incorrect response. The buyer’s solicitors will also order an enviro report. This will indicate if there is a recorded flood risk. If so, additional investigations should be initiated.
Over the last few months I have been searching for a leasehold apartment up to £195,000 and found one round the corner in Handforth I like with amenity areas and station nearby, the downside is that it only has 51 remaining years left on the lease. There is not much else in Handforth suitable, so just wondered if I would be making a mistake buying a short lease?
If you need a mortgage the shortness of the lease will be an issue. Discount the offer by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the premises for a minimum of twenty four months you could ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this matter.
How do I use the search facility to choose a conveyancing practitioner in Handforth on the authorised to act for my mortgage?
Step one is to select a mortgage company such as Nationwide Building Society, The Mortgage Works or Platform Home Loans Ltd then type in your preferred area a common one being Handforth. Conveyancing practices in Handforth and beyond should be listed.
Is it best to appoint a Handforth conveyancing solicitor based in the area that I am purchasing? An old friend can execute the legal work however his firm is located approximately 350miles away.
The benefit of a high street Handforth conveyancing firm is that you can drop in to sign documents, deliver your ID and pester them where appropriate. Having local Handforth know how is a plus. However it's more important to get someone that will do a good and efficient job. If if people you trust instructed your friend and the majority were impressed that should trump using an unknown Handforth conveyancing lawyer just because they are round the corner.
I am purchasing a flat and need a conveyancing solicitor in Handforth who is on the mortgage company approved panel. Could you point me in the right direction as regards a Handforth solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for the mortgage company who conduct conveyancing in Handforth. We dont recommend any particular firm.