Our god-son is purchasing a new build apartment in Hayling Island with a home loan from Santander. His lawyer has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
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 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 Santander 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 a couple who are buying a 2 bedroom apartment in Hayling Island with a residential mortgage from Platform Home Loans Ltd.We have a Hayling Island conveyancing solicitor but Platform Home Loans Ltd advised that he's not on their "panel". It seems we are left with no choice but to instruct a Platform Home Loans Ltd panel firm or keep our high street solicitor and pay for a Platform Home Loans Ltd panel lawyer to act for them. This seems very unfair; is there anything we can do?
No, not really. The mortgage issued to you is subject to its terms and conditions, one of which will be that solicitors must be on the Platform Home Loans Ltd approved list. Until recently, most mortgage companies had large numbers of solicitors on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for Platform Home Loans Ltd
I am buying a house and the solicitor has raised the issue of Chancel Repair for which the property may be obligated to contribute to given it’s proximity to the area of such a church. She has mentioned insurance. Is this strictly required for conveyancing in Hayling Island
Unless a previous acquisition of the property completed after 12 October 2013 you could expect solicitors conducting conveyancing in Hayling Island to remain encouraging a chancel search and or insurance against a claim.
Are there restrictive covenants that are commonly picked up during conveyancing in Hayling Island?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Hayling Island. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am looking for a ground for flat up to £245,000 and found one close by in Hayling Island I like with a park and railway links in the vicinity, however it only has 51 remaining years left on the lease. I can't really find anything else in Hayling Island suitable, so just wondered if I would be making a grave error acquiring a short lease?
Should you need a mortgage that many years will likely be a potential deal breaker. Reduce the price by the expected lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of twenty four months you could ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this.
In what way can the Landlord & Tenant Act 1954 impact my business property in Hayling Island and how can you help?
The particular law that you refer to affords protection to commercial leaseholders, granting the right to apply to court for a new tenancy and continue in occupation when the lease reaches an end. There are certain specified grounds that a landlord can refuse a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing practices who use the act for protection and assist with commercial conveyancing in Hayling Island