Our son-in-law is in the process of securing a newly built flat in Kettering with a mortgage from TSB. His conveyancer has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The form 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 TSB 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 TSB conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Why is leasehold purchase conveyancing in Kettering costs more?
Kettering leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
I am expecting a AIP from Nottingham this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Nottingham recommend any Kettering solicitors on the Nottingham conveyancing panel, or is it better to go independently?
You will need to appoint Kettering solicitors independently although you'll need to choose one on the Nottingham conveyancing panel. The solicitor represents both you and Nottingham through the process.
I have decided to exercise my right to buy my property in Kettering off the council. I have a mortgage offer with Barclays. 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 use 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 Barclays, you will need to appoint a solicitor on the Barclays conveyancing panel.
I recently had an offer accepted on an apartment in Kettering. My financial adviser pressured me to appoint their conveyancer. I paid an on account payment of £225. A few days later, the property lawyer called me sheepishly admitting that they were not on the Coventry BS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Coventry BS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I'm buying my first flat in Kettering benefiting from help to buy. The sellers would not reduce the amount so I negotiated 6k of extras instead. The house builders rep advised me not reveal to my lawyer about this deal as it would jeopardize my mortgage with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
My business partner and I are intending to lease a unit on the high street. Can you recommend solicitors offering no-move-no charges for non-domestic conveyancing in Kettering for less than £2000?
We are happy to recommend firms who have an in-depth of experience of commercial conveyancing in Kettering, including the sale and acquisition of businesses as well as simply premises. If you are hoping to acquire or sell a shop, pub, restaurant, office, retail premises or a whole business we will find you the right solicitor. Regarding the charges these will vary based on the structure and complexity of the proposed transaction. Let us have your details or email so as to enable us to supply you with a detailed commercial conveyancing quote.
All being well we will complete our sale of a £150,000 maisonette in Kettering next Thursday. The management company has quoted £348 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Kettering?
Kettering conveyancing on leasehold maisonettes nine out of ten times results in administration charges raised by managing agents :
-
Completing conveyancing due diligence enquiries
Where consent is required before sale in Kettering
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
Leasehold Conveyancing in Kettering - Examples of Queries Prior to buying
-
Most Kettering leasehold apartments will be liable to pay a service charge for maintenance of the building levied on behalf of the freeholder. If you buy the flat you will have to meet this liability, usually in instalments during the year. This may differ from a few hundred pounds to thousands of pounds for buildings with lifts and large communal grounds. There will also be a ground rent to be met yearly, ordinarily this is not a exorbitant amount, say around £25-£75 but you need to enquire as sometimes it can be surprisingly expensive. Who are the managing agents? Are there any major works in the near future that will likely increase the maintenance costs?