Our son is buying a house that has just been built in Burnham Market with a home loan from Yorkshire BS. His solicitor has said that there is a delay in receiving 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 engaged 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.
When it comes to lenders such as Clydesdale, do Burnham Market solicitors face a fee to be on the list of approved solicitors?
We are not aware of any bank fees to be on their panel, although some do levy an administration fee to deal with the processing of the conveyancing panel application.
I am currently in the process of buying my council flat in Burnham Market. I have a mortgage agreed with Santander. Conveyancing is not something I have any knowledge of. 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 Santander, you will need to appoint a solicitor on the Santander conveyancing panel.
I am selling my house. I had a double glazing fitted in May 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, RBS are being difficult. The Burnham Market solicitor who is on the RBS conveyancing panel is saying indemnity insurance will be fine but RBS are requiring a building regulation certificate. Why do RBS have a conveyancing panel if they don't accept advice from them?
It is probably the case that RBS have referred the matter to their valuer. The reason why RBS 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.
About to purchase a new build flat in Burnham Market. 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 conveyancing.
Set out below are examples of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Burnham Market
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Forfeiture - bankruptcy or liquidation must not apply under this provision. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?
My husband and I are new on the property ladder - had an offer accepted, but the agent advised that the vendor will only issue a contract if we use their preferred solicitors as they want an ‘expedited deal’. My instinct tells me that we should use a family solicitor who is familiar with conveyancing in Burnham Market
We suspect that the seller is unaware of this request. If they desire ‘a quick sale', turning down a motivated buyer is is going to put the whole deal at risk. Speak to the vendors direct and make the point that (a)you are keen to buy (b)you are ready to progress, with finances in place © you are unencumbered (d) you wish to move quickly (e)but you will continue to instruct your own,trusted Burnham Market conveyancing solicitors - rather thanthe ones that will earn their negotiator at the agency a commission or hit his conveyancing figures pre-set by senior management.
We expect to complete our sale of a £325,000 garden flat in Burnham Market in nine days. The managing agents has quoted £420 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Burnham Market?
Burnham Market conveyancing on leasehold apartments often involves the purchaser’s lawyer sending enquiries for the landlord to address. Although the landlord is not legally bound to respond to these enquiries most will be willing to assist. They are at liberty to charge a reasonable charge for answering questions or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is over three hundred pounds, in some situations it is above £800. The management information fee required by the landlord must be sent together with a synopsis of entitlements and obligations in respect of administration charges, otherwise the charge is not strictly payable. Reality however dictates that you have little option but to pay whatever is demanded should you wish to complete the sale of your home.
I bought a garden flat in Burnham Market, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent flats in Burnham Market with over 90 years remaining are worth £179,000. The ground rent is £65 per annum. The lease terminates on 21st October 2083
You have 57 years remaining on your lease we estimate the premium for your lease extension to span between £26,600 and £30,800 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.
I acquired a property in Burnham Market last 31/10/2024 and to date it is still not registered with HMLR. It was part of a development site and my solicitor told me that it may take 12 months to complete the registration formalities. I have spoken with the Land Registry directly and they have informed me the original application was cancelled due to failure to reply to requisitions. Should I be concerned?
It is your conveyancing practitioner that you should contact in order to satisfy any questions which have arisen as part of the registration process for your Burnham Market property. Normal Burnham Market conveyancing practice includes an undertaking on the part of the vendor’s conveyancer that they will help resolve any requisition raised by HMLR so it may be a case of taking action to enforce that undertaking in some way.