Our son-in-law is in the process of securing a new build apartment in Crayford with a mortgage from Santander. His lawyer has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The form 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 Santander 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 Santander conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
My brother-in-law has suggested I instruct a conveyancing solicitor in Crayford. I I would like to check whether they are accepted on the Alliance & Leicester conveyancing panel. Can you or the lender confirm if they are on the panel?
The first thing you should do is phone your conveyancer and enquire whether they are on the lender panel. Otherwise you can get in touch with Alliance & Leicester who may be able to assist.
is it true that all Crayford solicitors on the HSBC conveyancing panel are overseen by the SRA?
As solicitors, in order to be on the HSBC conveyancing panel they would need to be governed by the SRA. Some banks do allow licenced conveyancers on their panel in which case such practice would be regulated by the CLC.
The mortgage over my property is with Leeds Building Society for my property in Crayford. Conveyancing was finalised some time ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Leeds Building Society?
Leeds Building Society must be informed of your intention before letting out your property as this is likely to be a breach of Leeds Building Society’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Leeds Building Society directly. You need not do this via a Leeds Building Society conveyancing panel firm.
Intending to buy a house in Crayford. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Santander 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 Crayford conveyancing practitioner is on the Santander conveyancing panel.
We are purchasing a property and the lawyer has referenced Chancel Repair for which the property could be obligated to pay as it falls into the area of such a church. He has suggested insurance. Is this strictly warranted for conveyancing in Crayford
Unless a prior purchase of the house took place post 12 October 2013 you may expect conveyancing practitioners conducting conveyancing in Crayford to continue to advocate a chancel search and or chancel repair liability policy.
I am looking into buying my first house which is in Crayford and I am already nervous. I couldn't find anything specific about Crayford. Conveyancing will be needed in due course but do you know about the Crayford area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Crayford. In the meantime here are some basic statistics that we found
Looking forward to sign contracts shortly on a studio apartment in Crayford. Conveyancing solicitors have said that they report fully next week. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Crayford should include some of the following:
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The physical ownership of the property. This will be the flat itself but may include a attic or basement if applicable. Whether the lease restricts you from letting out the property, or having a home office for business Advice concerning the obligations as set out in the lease to to contribute towards maintenance costs - in relation to the building, and the wider rights a lessee enjoys Responsibility to repair and maintain the building. It is important for you to know which party is liable for the repair and maintenance of all parts of the block and estate How long the lease is. You should be advised as what happens when the lease ends, and informed of the importance of the 80 year mark
We have reached the end of our tether in trying to reach an agreement for a lease extension in Crayford. Can the Leasehold Valuation Tribunal adjudicate on premiums?
in cases where there is a absentee landlord or where there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the First-tier Tribunal (Property Chamber) to decide the price.
An example of a Lease Extension decision for a Crayford flat is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case affected 13 flats. The remaining number of years on the lease was 76 years.