Our son is purchasing a new build apartment in Downton with a home loan from Co-operative. His conveyancer has advised him of 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 purchase. Therefore, it will be provided to your son’s lawyer who should be on the Co-operative 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 Co-operative conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I have been told that property searches are the primary cause of delay in Downton house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of a review by MoveWithUs that conveyancing searches do not figure within the most frequent causes of hindrances during the legal transfer of property. Searches are not likely to be the root cause of holding up conveyancing in Downton.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Downton?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Downton. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
My husband and I are a couple of weeks into a residential purchase having been recommend to a firm by the high street agent to carry out the conveyancing in Downton. We are not happy. Could you you assist me in finding new lawyers?
They would have to be very poor in order to consider diss instructing them. Has the mortgage offer been sent? In the event that it has you need to advise them of the new solicitor and have the mortgage documents are re-sent. Your new conveyancer needs to be on the mortgage company panel to avoid escalating fees and complications. So that should be your starting point. The find a solicitor tool can help you find a lender approved lawyer for your home move in Downton
All being well we will complete the disposal of our £225,000 flat in Downton next week. The freeholder has quoted £360 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Downton?
Downton conveyancing on leasehold maisonettes often involves the purchaser’s solicitor submitting questions for the landlord to address. Although the landlord is not legally bound to answer such questions most will be willing to assist. They are entitled to charge a reasonable charge for answering enquiries 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 transactions it exceeds £800. The management information fee required by the landlord must be accompanied by a synopsis of entitlements and obligations in respect of administration charges, without which the invoice is not strictly payable. In reality one has little choice but to pay whatever is requested of you if you want to complete the sale of your home.
Downton Conveyancing for Leasehold Flats - Examples of Queries before buying
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Is the freehold owned collectively by the leaseholders? The majority of Downton leasehold properties will have a service bill for the upkeep of the building invoiced on behalf of the freeholder. Where you purchase the apartment you will have to pay this charge, usually periodically throughout the year. This can differ from several hundred pounds to thousands of pounds for blocks with lifts and large communal areas. In all likelihood there will be a rentcharge to be met annual, this is usually not a exorbitant figure, say approximately £25-£75 but you need to check as sometimes it can be many hundreds of pounds. How much is the annual maintenance fee and ground rent?
Can you please explain what options are open to me if my Downton conveyancing searches shows negative results?
Usually, most adverse entries that arise in Downton conveyancing search responses can be addressed ahead of completion or title insurance could possibly be taken. It is crucial to note that even though you may be purchasing the property and may be willing to accept the search results, your mortgage lender may not, and ultimately have the final decision.