Our son-in-law is purchasing a newly built flat in Coedpoeth with a mortgage from UBS. 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 involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the UBS conveyancing panel as a standard part of the process, and to the surveyor 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 UBS 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 Coedpoeth? Is this really necessary?
You are right in the requirement set out by your solicitor has nothing to do with conveyancing in Coedpoeth. However these days you will not be able to proceed with any conveyancing deal if you have not providing evidence of your identity. This usually takes the form of a either your passport or driving licence and a bank statement. Please note that if you are supplying your driving licence as proof of identification it must be both the paper section and photo card part, one is not sufficient in the absence of the other.
Verification of your origin of money is mandated in accordance with the Money Laundering Regulations. Don’t be offended when when this is requested of you as your lawyer must have this information on record. Your Coedpoeth conveyancing practitioner will require evidence of proof of funds before they are able to accept any monies from you into their client account and they will also ask further queries concerning the source of funds.
What is the difference between a licensed conveyancer and conveyancing solicitor in Coedpoeth
There are two types of lawyers who can perform conveyancing in Coedpoeth namely licenced conveyancers or solicitors. The two can administer the legal services that required to complete the disposal or acquisition of property. They are both required to perform Coedpoeth conveyancing to the same quality and guidelines so you can be sure that your conveyancing will be properly conducted and that the requirements and steps will be accurately attended to.
I am due to exchange contracts on my apartment. I had a double glazing fitted in September 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Aldermore are being a right pain. The Coedpoeth solicitor who is on the Aldermore conveyancing panel is saying indemnity insurance will be fine but Aldermore are insisting on a building regulation certificate. Why do Aldermore have a conveyancing panel if they don't accept advice from them?
It is probably the case that Aldermore have referred the matter to their valuer. The reason why Aldermore 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.
Intending to buy a maisonette in Coedpoeth. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Virgin Money conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Coedpoeth conveyancer is on the Virgin Money conveyancing panel.
I understand that there are debates on Chancel Insurance on online forums. Am I compelled to take this when buying a house in Coedpoeth? or I am told that there is an ancient law that could mean that house owners living in a parish church boundary will be compelled to contribute towards maintenance to the chancel in proximity to the church. Is this appropriate for conveyancing in Coedpoeth?
Unless a previous acquisition of the property took place post 12 October 2013 you may assume that lawyers delivering conveyancing in Coedpoeth to remain recommending a chancel search and or insurance against a claim.
I've recently bought a leasehold house in Coedpoeth. Do I have any liability for service charges relating to a period prior to completion of my purchase?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I purchased a 1st floor flat in Coedpoeth, conveyancing formalities finalised half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Coedpoeth with an extended lease are worth £260,000. The average or mid-range amount of ground rent is £45 yearly. The lease terminates on 21st October 2099
You have 74 years unexpired the likely cost is going to be between £8,600 and £9,800 plus professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.
I acquired a house in Coedpoeth last 20/6/2024 and to date it is still not registered with HM Land Registry. It was part of a new estate and my solicitor told me that it may take over a year to complete the registration formalities. I have spoken with HM Land Registry directly and they have informed me the initial application was cancelled due to questions not being addressed in time. Do I need to be concerned?
Call your lawyer - if you are not getting sensible responses, look up their firm’s complaints protocol and escalate your concerns to a Partner. Registrations for Coedpoeth conveyancing are not known to be particularly slow.