My son is about to exchange on a house that has just been built in Lower Morden with a home loan from Virgin Money. His lawyer has said that there is a delay in completing 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 engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Virgin Money 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 Virgin Money conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Why do I have to pay up front for my conveyancing in Lower Morden?
Where you are retaining lawyers for conveyancing in Lower Morden your lawyer will request that you place them with funds to cover the search fees. Generally this is asked for to cover the fees of the conveyancing searches. If any down payment is as part of the sale price then this will be asked for immediately prior to contracts are exchanged. The final balance that is needed should be transferred shortly before completion.
I am helping my sister sell her property in Lower Morden. Does the solicitor arrange an energy assessment or it is for the seller to see to?
After the abolition of Home Packs, EPC’s was kept a required part of selling a property. An energy assessment must be commissioned before the property is put on the market. It is not something that lawyers ordinarily arrange. If you are using a Lower Morden conveyancing lawyer they might help arrange energy assessments given their relationships with reputable local energy assessors
When it comes to lenders such as Nottingham, do Lower Morden conveyancers face a yearly amount to be on the list of approved solicitors?
We are unaware of any mortgage company fees to be on their list of approved firms, although some do charge an administration fee to deal with the processing of the conveyancing panel submission.
I have a mortgage with Santander for my property in Lower Morden. Conveyancing was finalised 12 months ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Santander?
Your original mortgage agreement with Santander will provide that you need their approval prior to letting out your property as this is likely to be a breach of Santander’s mortgage conditions. It may be that Santander will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Santander directly. It should not be necessary to do this via a Santander conveyancing panel firm.
Should commercial conveyancing searches reveal impending roadworks that could affect a commercial premises in Lower Morden?
Its becoming the norm that commercial conveyancing solicitors in Lower Morden will carry out a SiteSolutions Highways report as it reduces the time that conveyancers invest in researching accurate data on highways that impact buildings and development assets in Lower Morden. The search result provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Lower Morden.
For every commercial conveyancing transaction in Lower Morden it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately could result in delays to Lower Morden commercial conveyancing transactions as well as pose a risk to future plans for the site. These searches are not carried out for residential conveyancing in Lower Morden.
I have todayfound out that Arc property Solicitors have been shut down. They conducted my conveyancing in Lower Morden for a purchase of a leasehold flat 18 months ago. How can I be sure that my home is in my name in the name of the former proprietor?
The easiest way to check if the property is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Lower Morden conveyancing specialists.
I am in need of some leasehold conveyancing in Lower Morden. Before diving in I require certainty as to the number of years remaining on the lease.
If the lease is registered - and almost all are in Lower Morden - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Having spent years of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in Lower Morden. Can we issue an application to the Residential Property Tribunal Service?
in cases where there is a missing landlord or if there is disagreement about what the lease extension should cost, under the relevant legislation it is possible to make an application to the Leasehold Valuation Tribunal to calculate the price.
An example of a Lease Extension case for a Lower Morden residence is 33 The Maisonettes Alberta Avenue in June 2014. the Tribunal decided that the premium payable for the grant of a new lease be the sum of £20,680 (Twenty Thousand six hundred and eighty pounds). This case affected 1 flat. The unexpired term as at the valuation date was 60.43 years.