Our son-in-law is purchasing a new build apartment in Alnwick with a mortgage from Aldermore. His conveyancer has advised him of 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 involved in the transaction. 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 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 Aldermore conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
What does my ID and proof of funds have anything to do with my conveyancing in Alnwick? Is this really necessary?
It is indeed that case that the requirement set out by your solicitor has nothing to do with conveyancing in Alnwick. Nowadays you will not be able to complete any conveyancing process if you have not supplying evidence of your identity. Ordinarily this takes the form of a either your passport or driving licence and a council tax bill. Please note that if you are providing your driving licence as evidence of identification it needs to be both the paper section and photo card part, one is not acceptable in the absence of the other.
Evidence of your source of monies is required in accordance with the Money Laundering Regulations. You should not be offended when you are asked to produce this as your conveyancing solicitor must have this information on file. Your Alnwick conveyancing solicitor will require evidence of proof of funds prior to accepting any monies from you into their client account and they may also ask further queries regarding the source of monies.
We are downsizing from our property in Alnwick and the buyers lawyers are claiming that there is a risk of it being built on contaminated land. Any high street Alnwick lawyer would know this is not the case. For the life of me I don't know why the buyers are using a factory type conveyancing outfit rather than a conveyancing solicitor in Alnwick. We have lived in Alnwick for 5 years we know of no issue. Should we contact our local Authority to obtain clarification that there is no issue.
It would appear that you have a conveyancing lawyer currently acting for you. What do they say? You must 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 health insurance to cover that same sickness)
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in two weeks back in what should have been a simple, chain free conveyancing. Alnwick is the location of the property. Is there any guidance you can give?
Flying freeholds in Alnwick are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Alnwick you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Alnwick may decide 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 property.
I have recently realised that I have Fifty years left on my flat in Alnwick. I need to get lease extension but my landlord is absent. What options are available to me?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. You will be obliged to prove that you or your lawyers have used your best endeavours to find the lessor. On the whole a specialist should be helpful to try and locate and prepare a report which can be accepted by the court as evidence that the freeholder is indeed missing. It is wise to seek advice from a conveyancer in relation to investigating the landlord’s disappearance and the application to the County Court covering Alnwick.
Alnwick Conveyancing for Leasehold Flats - A selection of Questions you should ask before Purchasing
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The prefered form of lease arrangement is a share of the freehold. In this situation the lessees enjoy control and although a managing agent is often employed if it is larger than a house conversion, the managing agent retained by the leaseholders. Is the freehold owned collectively by the tenants? On the whole the outlay for major works are not built into the maintenance charges, albeit that a few managing agents in Alnwick obliged leasehold owners to pay into a reserve fund and this is used to offset against major repairs or maintenance.
I have been told by numerous friends that it can take up to two months for Alnwick conveyancing to complete.This was four weeks ago. The paperwork was only received to my lawyer a few days ago so now does it countdown?
Don't count on moving on a certain date until contracts are exchanged. Whatever promises the people you are purchasing from or selling to make, or your conveyancer gives don't count on them. More frustration is caused to clients trying to move home by false assurances than any other factor when it comes to conveyancing in Alnwick.