My son-in-law is about to exchange on a new build apartment in Highbury with a home loan from Leeds Building Society. His solicitor has advised him of 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 purchase. 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 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 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.
I note that there are debates on Chancel Insurance on online forums. Do I need chancel insurance when purchasing a residence in Highbury? or Apparently there is historic law that means some house owners residing in a parish church boundary may be liable to contribute towards repairs towards the chancel in proximity to the church. Is this relevant for conveyancing in Highbury?
Unless a prior purchase of the house completed post 12 October 2013 you can take it that lawyers carrying out conveyancing in Highbury to remain encouraging a chancel search and or insurance against a claim.
Over the last few months I have been searching for a flat up to £245,000 and identified one round the corner in Highbury I like with open areas and station in the vicinity, the downside is that it only has 51 remaining years left on the lease. There is not much else in Highbury suitable, so just wondered if I would be making a grave error buying a short lease?
If you require a mortgage the remaining unexpired lease term will be an issue. Discount the offer by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least 2 years you may ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the current lease with a zero ground rent applied. You should consult your conveyancing lawyer regarding this matter.
I'm refinancing my existing property to a buy to let loan with Barclays and I will use the rest of the raised equity towards a second house. The location we are talking about is Highbury. Will your solicitors be able to act for both sets of lenders and link together the conveyances?
Do use our search tool on this page to be sure that the lawyers are on the relevant lender panels. On the basis that they are the conveyancer will be able to simultaneously deal with the two transactions but you should have a chat with you solicitor and specify your expectations and needs.
I am thinking of appointing a conveyancing lawyer in Highbury for my house move. Is it possible to check a firm’s complaints history with the legal regulator?
Anyone can read documented Solicitor Regulator Association (SRA) determinations resulting from investigations started on or after Jan 2008. Visit Check a solicitor's record. For records about the period before 1 January 2008, or to check a solicitors history, phone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, dial +44 (0)121 329 6800. The regulator sometimes monitor telephone calls for training reasons.
Should I cancel the direct debit for my mortgage with Nottingham once a completion date for my home sale in Highbury has been set?
No, you should keep meeting any mortgage sums to Nottingham pending the mortgage being redeemed on completion as part of your Highbury conveyancing.