Our god-son is buying a new build apartment in Market Deeping with a home loan from UBS. His conveyancer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The form 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 UBS conveyancing panel as a standard part of the process, and to the valuer when asked. 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 UBS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
What is your number one tip for finding a conveyancing solicitor in Market Deeping
We would encourage you not to go for the cheapest Market Deeping conveyancing fees. You really do get what you’re paying for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
How can we tell if a Market Deeping conveyancing solicitor on the UBS panel is any good?
When it comes to conveyancing in Market Deeping obtaining 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 carrying out your transaction.
I have today made my last payment due on my mortgage with Coventry BS. I assume I don't need a Market Deeping conveyancing practitioner on the Coventry BS panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Coventry BS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Coventry BS mortgage from the register. Coventry BS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Coventry BS has sent the Land Registry the discharge electronically, and
- Coventry BS has instructed the Land Registry to do so
How does conveyancing in Market Deeping differ for new build properties?
Most buyers of new build premises in Market Deeping come to us having been asked by the seller to sign contracts and commit to the purchase even before the property is ready to move into. This is because house builders in Market Deeping usually buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Market Deeping or who has acted in the same development.
I have been on the look out for a leasehold apartment up to £245,000 and identified one round the corner in Market Deeping I like with open areas and railway links nearby, however it's only got 61 years on the lease. There is not much else in Market Deeping for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you need a home loan that many years may be problematic. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of 2 years you may ask them to start the process of the extension and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.
How does the Landlord & Tenant Act 1954 impact my commercial offices in Market Deeping and how can your lawyers assist?
The particular law that you refer to affords protection to commercial tenants, giving them the a statutory right to apply to court for a continuation of occupancy at the end of the lease term. There are certain specified grounds where a landlord can refuse a lease renewal and the rules are involved. Fees are different for commercial conveyancing. Market Deeping is one of our hundreds of locations in which the firms we work with are based
I purchased a flat in Market Deeping last 6/9/2024 and to date it is still not recorded with HMLR. It is part of a new estate and my property lawyer told me that it can take 12 months to complete the registration formalities. I have contacted HM Land Registry directly and they say that the original application was cancelled due to failure to reply to requisitions. Do I need to be concerned?
get in touch with your solicitor - if you are not getting sensible responses, look up their firm’s complaints process and amplify your problem to a Complaints Manager. Registrations for Market Deeping conveyancing are not known to be especially complex.