My son-in-law is buying a newly built flat in Shenley with a mortgage from Nottingham. His conveyancer has said that there is 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 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 Nottingham 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 Nottingham conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
The Shenley conveyancing lawyers that just started acting on my purchase in Shenley have suddenly closed. I only went with them because I had to have a lawyer on the Nationwide conveyancing panel and my previous Shenley lawyer was not. I gave my credit card details for them to take £195 for searches. What should be my next steps?
Assuming that you have an Estate Agent in the equation then inform them immediately so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Nationwide conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to help.
I am currently in the process of buying my council flat in Shenley. I have a mortgage offer with Coventry BS. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Coventry BS, you will need to appoint a solicitor on the Coventry BS conveyancing panel.
I am due to exchange contracts on my house. I had a double glazing fitted in January 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Yorkshire BS are being a right pain. The Shenley solicitor who is on the Yorkshire BS conveyancing panel is recommending indemnity insurance as a solution but Yorkshire BS are requiring a building regulation certificate. Why do Yorkshire BS have a conveyancing panel if they don't accept advice from them?
It is probably the case that Yorkshire BS have referred the matter to their valuer. The reason why Yorkshire BS may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Co-operative have agreed my home loan in principle, my bid on a apartment in Shenley has been accepted, what happens next?
Your estate agent will wish to be informed of your conveyancing practitioner's details (ensure that the conveyancing practitioners are on the lender’s approved list). Call up Co-operative or the broker and finalise any outstanding documentation. Co-operative will sellect a valuer who will get in contact with the selling agent or vendor to book an appointment. Once carried out (assuming no problems) it takes about a week to receive the mortgage offer. Co-operative will send the offer to you and your conveyancers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Shenley.
I understand that there are debates on Chancel Insurance on online forums. Am I compelled to take this when purchasing a house in Shenley? or Apparently there is historic law that means some homeowners residing in a parish church boundary may be liable to contribute towards repairs towards the chancel in proximity to the church. Is this appropriate for conveyancing in Shenley?
Unless a previous acquisition of the premises completed after 12 October 2013 you can take it that conveyancing practitioners handling conveyancing in Shenley to remain encouraging a chancel search and or insurance against a claim.
Just had an offer accepted on a new build flat in Shenley. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here is a sample of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Shenley
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The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. There must be mutual enforceability of lessee’s covenants. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Forfeiture - bankruptcy or liquidation must not apply under this provision.
I am looking for a flat up to £195,000 and found one close by in Shenley I like with a park and railway links in the vicinity, the downside is that it's only got 52 years on the lease. I can't really find anything else in Shenley suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you require a home loan the remaining unexpired lease term will likely be problematic. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of twenty four months you can ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this.