Our son-in-law is buying a new build apartment in Havering with a mortgage from Leeds Building Society. His solicitor has said that there is a delay in completing the ‘Disclosure of Incentive Form’. Who needs to receive the form?
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 Leeds Building Society 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 Leeds Building Society conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Will lawyers ask for an advanced payment when it comes to conveyancing in Havering?
If you are buying a property in Havering your lawyer will request that you to provide them with funds to cover the search fees. Ordinarily this is needed to cover the fees of the conveyancing searches. When the down payment is as part of the purchase price then this will be needed shortly prior to exchange of contracts. The closing balance that is needed should be transferred shortly before completion.
Can I be sure that the Havering conveyancing solicitor on the Clydesdale panel is any good?
When it comes to conveyancing in Havering getting recommendations is a good starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advocate that you speak with the solicitor conducting your transaction.
I have decided to exercise my right to buy my property in Havering off the council. I have a mortgage offer with Kent Reliance. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Kent Reliance, you will need to appoint a solicitor on the Kent Reliance conveyancing panel.
It is not clear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Havering bank branch on a couple of occasions and was told it does not affect the mortgage offer and they would lend. My Havering conveyancing solicitor - who is on the lender conveyancing panel- called to say that they would not lend in accordance with their published requirements. I have no idea who is right.
The property lawyer has to comply with the Council of Mortgage Lenders’ Handbook Part 2 conditions for your lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
How do I use your search facility to select a conveyancing practitioner in Havering on the approved list for my mortgage?
First choose a bank such as Birmingham Midshires, Coventry Building Society or Alliance & Leicester then type in your location a common one being Havering. Conveyancing firms in Havering and further afield will then be shown.
Estate agents have just been given the go-ahead to market my 2 bed apartment in Havering. Conveyancing is yet to be initiated, but I have just had a half-yearly service charge invoice – Do I pay up?
The sensible thing to do is clear the maintenance contribution as usual given that all ground rent and maintenance charges should 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.
I have attempted and failed to negotiate with my landlord for a lease extension without any joy. Can a leaseholder apply to the Leasehold Valuation Tribunal? Can you recommend a Havering conveyancing firm to act on my behalf?
if there is a absentee landlord or if there is disagreement about the premium for a lease extension, under the relevant statutes it is possible to make an application to the First-tier Tribunal (Property Chamber) to assess the price.
An example of a Lease Extension matter before the tribunal for a Havering residence is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case related to 1 flat. The unexpired term was 57.5 years.
I have been told by many estate agents to expect six to eight weeks for Havering conveyancing to complete.This was four weeks ago. The paperwork was only forwarded from the vendors lawyer last week so now does it countdown?
You should be realistic concerning timing. Moving home in Havering usually takes about two months. This timeframe is not because lawyer are slow and deliberately delay matters. The amount of money involved in buying any residence is so high, the buyer’s solicitor having to raise a wide range of questions, searches and supplemental checks to protect the buyer and their mortgage company (if there is to be a mortgage) from expensive, avoidable problems. These checks involves getting information from an array of different parties, including other conveyancing practitioner, local councils, private companies, lenders. Many of these are well organised. Plenty are not. Finally, no matter how quickly your conveyancing practitioner do their job, if the people you are purchasing from or are selling to aren't ready, nothing can move forward until they are.