Our son-in-law is buying a newly built flat in Merton Park with a mortgage from Santander. His conveyancer 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 Santander 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 Santander conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
What will a local search tell me about the house we're purchasing in Merton Park?
Merton Park conveyancing often starts with the applying for local authority searches directly from your local Authority or through a personal search organisations for example Onsearch The local search is essential in every Merton Park conveyancing purchase; that is if you wish to avoid any nasty surprises after you move into your property. The search will reveal information on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic headings.
Do I need to be suspicious that brokers that I am dealing with are encouraging me to use a nationwide conveyancing firm rather than a local Merton Park conveyancing firm?
As is the case with many professional services, often recommendations from family and friends can be worth their weight in gold. Nevertheless there are lots of people with a vested interest in a conveyancing matter; estate agents, financial adviser and lenders may recommend solicitors to use. On occasion the conveyancers might be known to one of the organisations as one of the best in their field, but sometimes there exists a commercial relationship behind the endorsement. You are free to choose your own lawyer. You need to be aware that many mortgage providers specify a panel list of law firms you have to use for the mortgage related work in your conveyancing.
My step-father has recommend that I appoint his lawyers for conveyancing in Merton Park. Should I find my own solicitor?
Much as we are happy to recommend a Merton Park conveyancing lawyer the best way to find a conveyancing solicitor is to seek feedback from friends or family who have experience in using the firm that you are considering.
I've recently bought a leasehold flat in Merton Park. Am I liable to pay service charges relating to a period prior to my ownership?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I am the registered owner of a two-bedroom flat in Merton Park. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the amount payable for the purchase of the freehold?
in cases where there is a missing freeholder or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the First-tier Tribunal (Property Chamber) to arrive at the price.
An example of a Lease Extension case for a Merton Park residence is 14 Nutwell Street in January 2014. The premium payable for the acquisition of a new lease of the subject premises was in the sum of £30,523 This case related to 1 flat. The unexpired term as at the valuation date was 62.94 years.
What is the distinction between surveying and conveyancing in Merton Park?
Conveyancing - in Merton Park or anywhere in England and Wales - is the legal term given to transferring legal title of property from one person to another. It involves the checking of the title. Whether buying or selling, you should be aware of anything affecting the property such as proposals by government departments, illegal buildings, or outstanding rates. The conveyancer should conduct the appropriate searches and inquiries on the property. Surveying relates to the structure of a property itself. A surveyor will look at a house, flat and any outbuildings you are purchasing and will help you discover the condition of the building and, if there are problems, give you leverage for negotiating the buying price down or asking the vendor to fix the defects prior to you complete your move.