My nephew is in the process of securing a house that has just been built in Shefford with a mortgage from UBS. His lawyer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The form 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 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.
In what way does my ID and proof of funds have anything to do with my conveyancing in Shefford? What am I being asked for?
Shefford conveyancing solicitors and indeed property lawyers throughout the UK have a duty under money laundering regulations to verify the ID of any client with a view to satisfy themselves that clients are who they say they are.
Conveyancing clients will need to disclose two forms of certified ID; proof of ID (usually a Passport or Driving Licence) and proof of address (typically a Utility Bill less than 3 months old).
Evidence of source of monies is also necessary in accordance with the money laundering statutes as lawyers are duty bound to investigate that the funds you are utilising to purchase a property (whether it be the deposit for exchange or the full purchase monies if you are buying mortgage free) has originated from an acceptable source (such as an inheritance) rather than the fruits of criminal activity.
Should commercial conveyancing searches reveal impending roadworks that could impact a commercial estate in Shefford?
Its becoming the norm that commercial conveyancing solicitors in Shefford will perform a SiteSolutions Highways report as it reduces the time that conveyancers spend in investigating accurate data on highways that impact buildings and development assets in Shefford. The report provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Shefford.
For each commercial conveyancing transaction in Shefford it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately can result in delays to Shefford commercial conveyancing transactions as well as pose a risk to future plans for the site. These searches are not ordered for residential conveyancing in Shefford.
How does conveyancing in Shefford differ for newly converted properties?
Most buyers of new build or newly converted property in Shefford approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is finished. This is because new home sellers in Shefford typically buy the land, 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 property lawyers 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 Shefford or who has acted in the same development.
I am looking into buying my first house which is in Shefford and I am already nervous. I couldn't find anything specific about Shefford. Conveyancing will be needed in due course but do you know about the Shefford area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Shefford. In the meantime here are some basic statistics that we found
Can you provide any advice for leasehold conveyancing in Shefford from the perspective of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Shefford can be bypassed where you get in touch lawyers the minute you market your property and ask them to put together the leasehold documentation which will be required by the buyers’ representatives. If there is a history of conflict with your freeholder or managing agents it is essential that these are settled before the property is marketed. The buyers and their solicitors will be reluctant to purchase a flat where a dispute is unsettled. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is better to reveal the dispute as historic rather than ongoing. If you hold a share in a the Management Company, you should ensure that you hold the original share document. Organising a duplicate share certificate is often a time consuming process and frustrates many a Shefford home move. Where a duplicate share is required, you should approach the company director and secretary or managing agents (where relevant) for this sooner rather than later. If you have carried out any alterations to the residence would they have required Landlord’s approval? Have you, for example installed wooden flooring? Most leases in Shefford state that internal structural alterations or addition of wooden flooring necessitate a licence issued by the Landlord consenting to such alterations. Should you dont have the consents in place do not contact the landlord without checking with your solicitor first.
I own a ground floor flat in Shefford, conveyancing formalities finalised in 2008. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Shefford with an extended lease are worth £191,000. The average or mid-range amount of ground rent is £55 invoiced annually. The lease ceases on 21st October 2076
You have 53 years remaining on your lease the likely cost is going to be between £27,600 and £31,800 plus costs.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.