My son-in-law is buying a new build apartment in Hanley with a mortgage from Nottingham. His lawyer has advised him of 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 purchase. Therefore, it will be provided to your son’s lawyer who should be on the Nottingham 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 Nottingham conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
My partner and I are selling our property in Hanley and according to the buyers it appears that there is a possibility that the property was built land that was not decontaminated. A high street Hanley lawyer would know this is not the case. For the life of me I don't know why the purchasers instructed a factory type conveyancing practice rather than a conveyancing solicitor in Hanley. We have lived in Hanley for 4 years we know that this is a non issue. Should we get in touch with our local Authority to get clarification that there is no issue.
It sounds as though you may have a conveyancing lawyer already. What do they say? You should check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same sickness)
I purchased my home on 6 March and the transaction details is not yet registered. Should I be concerned? My conveyancing solicitor in Hanley expressed confidence that it will be dealt with inside ten days. Are titles in Hanley uniquely lengthy to register?
There is nothing unique about conveyancing in Hanley registration formalities. Rather than based on location, timescales can differ according to the party submitting the application, whether there are errors and whether the Land registry need to notify any 3rd persons or bodies. As of today approximately 80% of submission are fully dealt with within two weeks but occasionally there can be longer delays. Historically registration occurs once the buyer is living at the property thus 'speed' is not usually top priority but where there is a degree of urgency associated with the registration then you or your conveyancer must contact the land registry and explain the circumstances.
How does conveyancing in Hanley differ for newly converted properties?
Most buyers of new build premises in Hanley come to us having been asked by the builder to exchange contracts and commit to the purchase even before the premises is completed. This is because new home sellers in Hanley usually buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Hanley or who has acted in the same development.
My husband and I are new to the buying process - agreed a price, yet the property agent has warned us that the seller will only proceed if we appoint their preferred lawyers as they need a ‘quick sale’. Our preferred option is to instruct a high street conveyancer with experience of conveyancing in Hanley
It is improbable the sellers are driving this. Should the vendor want ‘a quick sale', turning down a motivated purchaser is going to damage their objectives. Speak to the vendors direct and make sure they comprehend that (a)you are keen to buy (b)you are ready to go, with finances in place © you have nothing to sell (d) you intend to proceed fast (e)however you will continue to appoint your preferred Hanley conveyancing solicitors - not the ones that will provide the estate agent a introducer fee or achieve conveyancing thresholds pre-set by head office.
What makes a Hanley lease unmortgageable?
Leasehold conveyancing in Hanley is not unique. Most leases are drafted differently and drafting errors can sometimes mean that certain clauses are missing. For example, if your lease is missing any of the following, it could be defective:
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Insurance obligations A provision for the recovery of money spent for the benefit of another party.
A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Chelsea Building Society, and Godiva Mortgages Ltd all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, obliging the buyer to pull out.
Hanley Leasehold Conveyancing - Examples of Questions you should consider Prior to Purchasing
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How long is the Lease? How much is the ground rent and service charge? Is the freehold reversion owned collectively by the tenants?