Our god-son is buying a newly built flat in Biggleswade with a mortgage from Nationwide. His conveyancer has advised him of 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 document 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 Nationwide conveyancing panel as a standard part of the process, and to the valuer 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 Nationwide conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Do I need to take out insurance to cover chancel repairs when buying a residence in Biggleswade?
Unless a prior purchase of the house completed post 12 October 2013 you may take it that lawyers handling conveyancing in Biggleswade to continue to recommend a chancel search and or insurance against a claim.
I have recentlybecome aware that Arc property Solicitors have closed. They conducted my conveyancing in Biggleswade for a purchase of a leasehold flat 9 months ago. How can I check that my home is not still registered in the name of the previous owner?
The quickest method to see if the property is registered to you, 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 Biggleswade conveyancing specialists.
How does conveyancing in Biggleswade differ for newly converted properties?
Most buyers of new build or newly converted property in Biggleswade contact us having been asked by the builder to exchange contracts and commit to the purchase even before the residence is finished. This is because developers in Biggleswade usually 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 Biggleswade or who has acted in the same development.
I have been on the look out for a leasehold apartment up to £235,500 and identified one close by in Biggleswade I like with a park and transport links nearby, however it only has 61 years on the lease. I can't really find anything else in Biggleswade suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you require a home loan that many years will likely be a potential deal breaker. Discount the price by the expected lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of 2 years you may ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this matter.
Is it true that a Biggleswade conveyancing firm taken to court by a client for failing to conduct the right conveyancing searches?
Our attention has not be brought to such a Biggleswade conveyancing claim but according to a recent report, a couple buying a home in Cumbria successfully won a claim against their lawyer due to development permission to erect a wind farm failing to be identified in conveyancing searches.
If you are buying in Biggleswade It is important that your conveyancer conduct all Biggleswade conveyancing searches necessary making sure that you have relevant and current information before acquiring a property.