Our grandson is about to exchange on a new build apartment in Astwood Bank with a mortgage from Leeds Building Society. His conveyancer has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The document is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Leeds Building Society 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 Leeds Building Society conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
As I am unsure how the conveyancing bit works what is the most important advice you can impart concerning purchase conveyancing in Astwood Bank?
Not many law firms shout this from the rooftops but conveyancing in Astwood Bank or throughout Worcestershire is an adversarial experience. In other words, when it comes to conveyancing there is an abundance of room for confrontation between you and other parties involved in the ownership transfer. For example, the seller, selling agent and on occasion the bank. Selecting a solicitor for your conveyancing in Astwood Bank is a critical decision as your conveyancer is your adviser, and is the SOLE person in the transaction whose responsibility is to act in your best interests and to keep you safe.
There is a definite ongoing adversarial element to conveyancing- someone has to be at fault for the process taking so long. You must always trust your lawyer above all other parties when it comes to the legal transfer of property.
I have recentlyfound out that Arc property Solicitors have been shut down. They conducted my conveyancing in Astwood Bank for a purchase of a leasehold apartment 18 months ago. How can I check that my home is not still registered in the name of the former proprietor?
The easiest method to see if the property is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Astwood Bank conveyancing specialists.
I opted to have a survey carried out on a property in Astwood Bank in advance of retaining conveyancers. I have been told that there is a flying freehold overhang to the house. My surveyor advised that some lenders tend not grant a mortgage on this type of house.
It depends who your proposed lender is. HSBC has different requirements from Nationwide. Should you wish to telephone us we can check via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Astwood Bank. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Astwood Bank to see if the conveyancing costs will increase in light of this.
Should I instruct a Astwood Bank conveyancing practitioner based in the vicinity that I am purchasing? An old friend can carry out the legal formalities but her office is 400kilometers drive away.
The primary upside of using a high street Astwood Bank conveyancing firm is that you can drop in to sign paperwork, present your identification documents and apply pressure on them where appropriate. Having local Astwood Bank know how is a bonus. However nothing is more important than finding someone that will do a good and efficient job. If other friends have used your friend and the majority were happy that should trump using an unknown Astwood Bank conveyancing lawyer just because they are local.
I’m about to sell my 2 bed flat in Astwood Bank. Conveyancing lawyers have not yet been instructed, however I have recently received a yearly maintenance charge invoice – Do I pay up?
The sensible thing to do is discharge the maintenance contribution as usual because all rents and service invoices will be allotted as part of the financial calculations for completion monies, so you will be reimbursed by the purchaser for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
Astwood Bank Leasehold Conveyancing - Examples of Questions you should consider Prior to Purchasing
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Who is in charge of the building? You should be aware if it is no more than 80 years it will impact the salability of the flat. Check with your mortgage company that they are content with residual term of the lease. A short lease means that you will almost definitely require a lease extension at some point and you need to have some idea of how much this will be. Remember, in most cases you would need to own the premises for two years before you are legally able to carry out a lease extension. Does the lease include onerous restrictions?