My god-son is purchasing a new build apartment in Dronfield with a home loan from Barclays. His conveyancer has said that there is 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 form 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 Barclays conveyancing panel as a standard part of the process, and to the valuer 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 Barclays conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I purchased a freehold premises in Dronfield yet charged rent, why is this and what is this?
It is rare for properties in Dronfield and has limited impact for conveyancing in Dronfield but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the creation of new rentcharges post 1977.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 will be dispensed with completely.
What is the difference between a licensed conveyancer and conveyancing solicitor in Dronfield
There are many registered licenced Conveyancers in Dronfield and Solicitor firms in Dronfield who provide Conveyancing services We would stress that the two are supervised by regulatory bodies with both specialising in the legal aspects of transferring property. The two can handle associated property related work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
Last month we had a mortgage agreed in principle with Coventry BS. Dronfield conveyancing lawyers have been selected. How long does it take for Coventry BS to send the offer to the lawyer?
There is no definitive answer here. Have Coventry BS conducted the valuation? Have you advised Coventry BS as to your lawyers' details and checked that your lawyers are on the Coventry BS conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I have a mortgage with Barclays for my property in Dronfield. Conveyancing has been completed 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 Barclays?
You must advise Barclays before renting your property as this is likely to be a breach of Barclays’s mortgage conditions. It may be that Barclays will permit you to let 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 Barclays directly. It should not be necessary to do this via a Barclays conveyancing panel lawyer.
Is it simple use your search facility to locate a conveyancing solicitor in Dronfield on the approved list for my mortgage?
First choose a mortgage company such as Halifax, Virgin Money or Barclays Direct then type in your preferred area for example Dronfield. Conveyancing practices in Dronfield and beyond should be listed.
In my capacity as executor for the will of my aunt I am disposing of a residence in Swansea but reside in Dronfield. My conveyancer (approximately 200 kilometers awayhas requested that I execute a statutory declaration ahead of completion. Can you recommend a conveyancing lawyer in Dronfield to witness and place their company stamp on the document?
strictly speaking you are unlikely to be required to have the documents witnessed by a conveyancing solicitor. Ordinarily any notary public or solicitor will do regardless of whether they are based in Dronfield
I today plan to offer on a house that appears to meet my requirements, at a reasonable figure which is making it more attractive. I have subsequently been informed that the title is leasehold rather than freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Dronfield. Conveyancing solicitors have are about to be appointed. Will they explain the issues?
The majority of houses in Dronfield are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area who can assist with the conveyancing process. it is apparent that you are buying in Dronfield in which case you should be looking for a Dronfield conveyancing solicitor and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as requiring the freeholder’sconsent to conduct changes to the property. It may be necessary to pay a service charge towards the upkeep of the communal areas where the house is located on an estate. Your conveyancer should appraise you on the various issues.
Dronfield Conveyancing for Leasehold Flats - Examples of Questions you should consider Prior to Purchasing
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Be sure to investigate if there is anything that is prohibited in the lease. For instance plenty of leases prohibit pets being permitted in certain buildings in Dronfield. If you love the propertyin Dronfield however your dog can’t move with you then you have a very hard choice. It would be wise to discover as much as possible regarding the company managing the building as they will either make life much simpler or problematic. Being a leasehold owner you are frequently in the clutches of the managing agents from a financial perspective and when it comes to day to day matters such as the cleanliness of the communal areas. Don't be afraid to ask other people whether they are happy with them. Finally, find out the dates that the service charges are due to the managing agents and specifically how they are spending that money. The majority of Dronfield leasehold flats will have a service charge for the upkeep of the building invoiced by the landlord. Where you purchase the property you will have to pay this contribution, normally quarterly during the year. This can differ from two or three hundred pounds to thousands of pounds for blocks with lifts and large communal areas. In all probability there will be a ground rent to be met yearly, this is usually not a exorbitant amount, say approximately £50-£100 but you should to check as sometimes it could be many hundreds of pounds.