I was notified yesterday by my broker that my Ryde solicitor is not on the bank Solicitor panel. How can I be sure that this is correct?
Your first step should be to contact your Ryde lawyer directly. You lawyer should notify you what has happened. If they are not on the panel they could put your in touch with solicitors on the approved list of lawyers for your lender.
Our grandson is in the process of securing a house that has just been built in Ryde with a home loan from RBS. His lawyer has said that there is 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 engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the RBS 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 RBS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
My relative recommended that if I am purchasing in Ryde I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is sometimes included in the estimate for your Ryde conveyancing searches. It is not a small report of about 40 pages, listing and detailing significant information about Ryde around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Ryde Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Ryde Education with maps and statistics, Local Amenities and other useful information concerning Ryde.
My wife and I purchased a 4 bedroom Edwardian property in Ryde. Conveyancing lawyer acted for me and Birmingham Midshires. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: the first freehold, the second leasehold under the matching property. If a house is not a freehold shouldn't I have been informed?
You should review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Ryde and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the position with your conveyancing lawyer who conducted the purchase.
I'm buying a new build house in Ryde with a loan from Skipton Building Society. The developers would not move on the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The estate agent suggested that I not to tell my solicitor about the extras as it could affect my mortgage with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
If all goes to plan we aim to complete our sale of a £275,000 maisonette in Ryde in nine days. The managing agents has quoted £336 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Ryde?
Ryde conveyancing on leasehold apartments nine out of ten times involves fees being raised by freeholders :
Completing pre-exchange enquiries
Where consent is required before sale in Ryde
Supplying insurance information
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
Ryde Leasehold Conveyancing - Examples of Questions you should consider Prior to buying
Is the freehold owned collectively by the tenants? For most Ryde leaseholds the outlay for major works tend not to be included within maintenance charges, albeit that a few managing agents in Ryde ask leasehold owners to pay into a sinking fund and this is used to offset against larger repairs or maintenance. Best to be warned if redecorating or some other major work is anticipated to be shared amongst the leaseholders and will materially impact the level of the maintenance costs or require a one off invoice.