Our god-son is purchasing a house that has just been built in Putney with a mortgage from Aldermore. His conveyancer has advised him of 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 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 Aldermore 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 Aldermore 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 selling our flat in Putney. Does my conveyancing practitioner have to be on the Yorkshire BS conveyancing panel in order to deal with repayment of my mortgage?
Ordinarily, even if your lawyer is not on the Yorkshire BS conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently currently.
I have been told that property searches are a common cause of delay in Putney house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) has noted the findings of research by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of hindrances in the conveyancing process. Local searches are unlikely to be the root cause of holding up conveyancing in Putney.
I purchased my flat on 14 August and my personal details is not yet on the land registry website. Any reason for this? My conveyancing solicitor in Putney advises it will be dealt with inside ten days. Are transfers in Putney uniquely lengthy to register?
As far as conveyancing in Putney is concerned, registration is no quicker or slower than the rest of England and Wales. As opposed to being determined by geographic area, timescales can adjust subject to the party submitting the application, whether it is in order and if the Land registry have to notify any third parties. As of today roughly 80% of such applications are fully addressed within 12 days but occasionally there can be protracted delays. Registration occurs after the buyer is living at the property so post completion formalities is not usually top priority but if it is urgent that the the registration takes place urgently then you or your lawyers could communicate with the Registry to express the reasoning for the application to be prioritised.
I've recently found out that there is a flying freehold element on a property I put an offer in a fortnight ago in what should have been a straight forward, no chain conveyancing. Putney is where the house is located. Can you offer any guidance?
Flying freeholds in Putney are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Putney you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Putney may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
We are 14 days into a freehold purchase having been referred to conveyancers by the selling agent to do our conveyancing in Putney. We are not happy. Can you you assist me in finding new conveyancers?
They would have to be very poor in order to consider diss instructing them. Has the mortgage offer been sent? In the event that it has you will need to advise them of the new contact details and get the loan are re-sent. The conveyancer should be on the mortgage company approved list to avoid supplemental costs and frustration. That should be your starting point. Our search tool will help you find a lender approved lawyer for your home move in Putney