Our son-in-law is about to exchange on a new build apartment in Finedon with a home loan from RBS. His lawyer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. Who needs to receive the form?
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 RBS conveyancing panel as a standard part of the process, and to the valuer 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 RBS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
This question may be naive but I am new to the home moving as a first time purchaser of a two bedroom flat in Finedon. Do I pick up the keys to the property on the completion date from my conveyancer? If so, I will find a High Street conveyancing solicitor in Finedon?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will transfer the purchase money to the vendor’s solicitors, and once they have received this, you should be invited to collect the keys from the property Agents and move into your new home. Usually this happens between 1 and 3pm.
I have today made my last payment due on my mortgage with Principality. I assume I don't need a Finedon conveyancer on the Principality panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Principality mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Principality mortgage from the register. Principality, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Principality has sent the Land Registry the discharge electronically, and
- Principality has instructed the Land Registry to do so
Completion of my purchase has taken place for my property in Finedon. Conveyancing was satisfactory but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
Most lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Department at head office. In most cases complaints to a lender are resolved very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
I have a terraced Edwardian house in Finedon. Conveyancing practitioner acted for me and Santander. I did a free Land Registry search last week and I saw two entries: one for freehold, the second leasehold with the matching address. I'd like to know for sure, how can I find out??
You need to assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Finedon and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the situation with the conveyancing solicitor who carried out the work.
I am looking for a leasehold apartment up to £235,500 and identified one round the corner in Finedon I like with a park and station in the vicinity, the downside is that it's only got 52 years on the lease. I can't really find anything else in Finedon suitable, so just wondered if I would be making a mistake acquiring a short lease?
Should you need a home loan the shortness of the lease will be problematic. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of 2 years you could ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should consult your conveyancing lawyer about this.
I’m about to sell my garden apartment in Finedon. Conveyancing lawyers have not yet been instructed, but I have recently received a yearly service charge invoice – what should I do?
The sensible thing to do is clear the service charge as you normally would given that all ground rent and maintenance payments should be apportioned on completion, so you will be reimbursed by the purchaser for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
Finedon Leasehold Conveyancing - Sample of Queries before buying
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Generally speaking the cost for major works are not included within service charges, although a few managing agents in Finedon obliged tenants to pay into a reserve fund created for the specific purpose of building a fund for major works. What restrictions are there in the Finedon Lease?
Do I have to attend the offices of the lender conveyancing panel solicitor to execute the mortgage deed? If so, I will instruct a firm who offer conveyancing in Finedon as it will be easier to attend their offices if required.
As opposed to 15 years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Finedon.