Our god-son is purchasing a new build apartment in Mitcham Junction with a mortgage from UBS. 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 purchase. 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 surveyor 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.
We are expecting a mortgage offer soon. The bank mentioned the home loan came with free conveyancing. Does this mean I have to use their panel conveyancer as I would much rather use a Mitcham Junction based conveyancing firm?
You should check but the the likelihood is that give you one of their panel conveyancers where you want the "fee-free" offer. Contact the bank and ask if they make available a cash alternative. In the past a few lenders offered a £250 cashback as an alternative in which case you could put that amount towards the cost for your conveyancing solicitor near Mitcham Junction.
I am the single beneficiary of my late father’s estate with all property in now in my sole name, including the house in Mitcham Junction. Conveyancing formalities meant that the Land Registry date was in March. I want to move. I understand that there is a Mortgage Lenders 6 month 'rule', which means that my proprietorship may be considered the same way as though I had purchased the house in March. Do I have to wait half a year to sell?
The Council of Mortgage Lenders’ handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be impacted by that. Most banks would take a practical view as this clause primarily exists to identify the purchase and immediately sell or the quick reselling of property.
We have a mortgage agreed in principle with Nottingham. Mitcham Junction conveyancing lawyers are selected. How long does it take for Nottingham to issue the offer to the conveyancing practitioner?
Some lenders take longer than others. Have Nottingham conducted the survey? Have you advised Nottingham as to your lawyers' details and checked that your lawyers are on the Nottingham conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I can not fathom if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Mitcham Junction bank branch on numerous occasions and was informed it wasn't a problem and they will lend. My Mitcham Junction conveyancing solicitor - who is on the mortgage company conveyancing panel- called to say that they refuse to lend in accordance with their published requirements. Who do I believe?
The conveyancer has to comply with the Council of Mortgage Lenders’ Handbook Part 2 conditions for your bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
My wife and I are planning on selling our home in Mitcham Junction and the buyers lawyers are claiming that there is a possibility that the property was built land that was not decontaminated. Any local lawyer would know that there is no such problem. It does beg the question why the purchasers are using an online conveyancing practice rather than a conveyancing solicitor in Mitcham Junction. Having lived in Mitcham Junction for three years we know that this is a non issue. Do we get in touch with our local Authority to seek clarification that there is no issue.
It would appear that you have a conveyancing solicitor already. Are they able to advise? You should check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
What are your top tips when it comes to appointing a Mitcham Junction conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a solicitor for your lease extension (regardless if they are a Mitcham Junction conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We suggest that you speak with several firms including non Mitcham Junction conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. The following questions might be of use:
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If the firm is not ALEP accredited then why not?
My wife and I have hit a brick wall in negotiating a lease extension in Mitcham Junction. Can this matter be resolved via the Leasehold Valuation Tribunal?
if there is a absentee freeholder or if there is dispute about what the lease extension should cost, under the relevant statutes it is possible to make an application to the LVT to arrive at the price.
An example of a Freehold Enfranchisement matter before the tribunal for a Mitcham Junction premises is 50 & 52 Southcroft Road in September 2013. The tribunals own valuation determined that the premium payable should be £29,000 This case was in relation to 2 flats. The number of years remaining on the existing lease(s) was 86.11 and 60.64.
My father purchased his flat in Mitcham Junction Six years ago. He has got wed, widowed and is now married again. He will be marketing the flat in a couple of months. I suspect that he will simply be need to provide a copy of the marriage certificates to the property lawyer but he is worried it could frustrate the home move. Should he instruct a conveyancer to update the Land Registry information for the property?
It is not absolutely necessary to bring up to date the register providing you have the evidence needed to demonstrate how the change of name has come about.
The buyer’s conveyancer will check the land registry entries and require evidence to establish the name change e.g. marriage documentation.