Our god-son is about to exchange on a new build apartment in Fulwood with a mortgage from Barclays. His lawyer has advised him of a delay in receiving 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 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.
is it true that all Fulwood solicitor firms on the Yorkshire BS conveyancing panel are regulated by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Yorkshire BS approved list of solicitors they would need to be regulated by the Solicitors Regulatory Authority. The majority of lenders do allow licenced conveyancers on their panel and in that case the firms would be governed by the Council of Licensed Conveyancers.
Last month we had a mortgage agreed in principle with Virgin Money. Fulwood conveyancing solicitors were appointed. How long does it take for Virgin Money to send the offer to the property lawyer?
There is no definitive answer here. Have Virgin Money conducted the valuation? Have you advised Virgin Money as to your lawyers' details and checked that your lawyers are on the Virgin Money conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
The formalities of my purchase has taken place for my property in Fulwood. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
Almost all lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Department at head office. We understand that complaints to a lender are sorted out very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
Have completed on a a detached house in Fulwood , What is the estimated time for the Land Registry to record my ownership? My Fulwood conveyancing solicitor works at snail pace, so I want to be certain that my name is recorded.
There is nothing unique about conveyancing in Fulwood registration formalities. Rather than based on location, timeframes can adjust according to the party submitting the application, whether there are errors and whether the Land registry communicate with any 3rd persons or bodies. As of today approximately three quarters of such applications are completed in less than three weeks but some can be subject to protracted hold-ups. Historically registration is effected after the new owner has moved in to the premises so registration formalities is not always primary concern yet where there is a degree of urgency associated with the registration then you or your lawyers must communicate with the Registry to express the reasoning for an expedited registration.
I decided to have a survey carried out on a property in Fulwood ahead of retaining solicitors. I have been informed that there is a flying freehold aspect to the property. Our surveyor has said that some lenders tend not issue a loan on a flying freehold premises.
It varies from the lender to lender. Santander has different instructions for example to Halifax. Should you wish to telephone us we can look into this further with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Fulwood. Conveyancing may be slightly more expensive based on your lender's requirements.
Can you provide any advice for leasehold conveyancing in Fulwood with the intention of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Fulwood can be bypassed where you get in touch lawyers as soon as you market your property and ask them to collate the leasehold documentation needed by the buyers’ conveyancers. If there is a history of any disputes with your landlord or managing agents it is very important that these are resolved before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You may need to swallow your pride and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is clearly preferable to present the dispute as over rather than unresolved. The majority of freeholders or managing agents in Fulwood levy fees for supplying management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Fulwood. If you have carried out any alterations to the residence would they have required Landlord’s permission? In particular have you laid down wooden flooring? Most leases in Fulwood state that internal structural alterations or laying down wooden flooring calls for a licence from the Landlord acquiescing to such alterations. Should you fail to have the consents in place you should not communicate with the landlord without checking with your solicitor in the first instance.
Leasehold Conveyancing in Fulwood - Sample of Questions you should ask before buying
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On the whole the outlay for major works are not included within maintenance charges, albeit that there some managing agents in Fulwood ask leaseholders to contribute towards a sinking fund created for the specific purpose of building a fund for larger works. Most Fulwood leasehold flats will be liable to pay a service charge for the upkeep of the block invoiced on behalf of the freeholder. Where you purchase the property you will have to pay this contribution, normally in instalments accross the year. This may differ from a couple of hundred pounds to thousands of pounds for buildings with lifts and large common areas. In all probability there will be a ground rent for you to pay yearly, ordinarily this is not a significant figure, say around £25-£75 but you should to check as on occasion it can be many hundreds of pounds. It is important to be aware if fixing the lift or some other major work is pending that will be shared amongst the tenants and will dramatically impact the level of the service costs or necessitate a specific invoice.
Why is New Build conveyancing in Fulwood more costly?
Conveyancing in Fulwood for recently converted or new build homes can sometimes involve adoption of highways & drains, building regulations approval, planning permission, new build warranties such NHBC as well as further queries and contractual considerations.