Our god-son is buying a newly built flat in Ash with a home loan from Yorkshire BS. His conveyancer has advised him of a delay in completing the ‘Disclosure of Incentive Form’. Who needs to receive the form?
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 Yorkshire BS conveyancing panel as a standard part of the process, and to the surveyor when requested. 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 Yorkshire BS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Are the Ash conveyancing solicitors identified as being on the UBS conveyancing panel, together with their details provided by UBS?
Ash conveyancing firms themselves provide us confirmation that they are on the UBS conveyancing panel as opposed to being supplied with a list from UBS directly.
I had intended to instruct a property lawyer in Ash for our house purchase. Our broker has since notified us that our mortgage lenders Chelsea Building Society won't deal with them. Why is this not regarded as unduly restrictive?
Pre- 2008 most banks had a different appetite for risk. Almost all Ash conveyancing firms would have been on many bank panels. The FSA in 2010 carried out a thematic investigation into mortgage fraud which come to the conclusion: know the conveyancing solicitors dealt with. Consequently, lenders are increasingly seeing more information from law firms relating to their operations and their employees as well as establishing certain criteria such a completing on a minimum volume of transactions. Many Ash conveyancing firms that have been excluded from lender panels have Unblemished track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Ash is one of the many areas where the solicitors showing on our search results are are authorised to act for Chelsea Building Society.
The deeds to my home are lost. The lawyers who conducted the conveyancing in Ash 5 years ago are no longer around. Will I be able to sell the house?
You no longer need to have the physical deeds to establish that you are the registered proprietor of land or premises, given that the Land Registry have everything they need in a digital format.
I have been on the look out for a ground for flat up to £195,000 and identified one round the corner in Ash I like with open areas and railway links nearby, the downside is that it only has 49 remaining years left on the lease. I can't really find anything else in Ash for this price, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you require a home loan that many years will likely be an issue. Reduce the price by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least 2 years you could request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this matter.
18 days into a sale of a flat in Ash. Conveyancing is fine but we have been asked to pay an extortionate amount by the freeholder. To date we have issued a cheque for £268 for a leasehold management pack and then another £118 for responses to queries supplied by the purchaser's property lawyer.
You will not have control over the extent of the bill for this information but the average costs for the information for Ash leasehold property is £355. For Ash conveyancing sales it is usual for the vendor to pay for these costs. The freeholder or their agents are under no statutory obligation to answer these questions most will agree to do so - albeit often at high prices out of proportion to the work involved. Regretfully there is no statute that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to supply answers.