My god-son is in the process of securing a new build apartment in Hatton Park with a mortgage from HSBC. 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 HSBC 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 HSBC conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
What will a local search reveal about the property I am buying in Hatton Park?
Hatton Park conveyancing often commences with the submitting local authority searches directly from your local Authority or via a personal search company such as Searchflow The local search is essential in every Hatton Park conveyancing purchase; that is if you wish to avoid any nasty surprises after you move into your new home. The search will supply data on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic sections.
I'm purchasing a new build house in Hatton Park benefiting from help to buy. The developers refused to budge the price so I negotiated 6k of extras instead. The sale representative advised me not reveal to my solicitor about the extras as it would adversely affect my mortgage with Coventry Building Society. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
As co-executor for the will of my grandfather I am disposing of a property in Swansea but I am based in Hatton Park. My conveyancer (based 300 kilometers from merequires that I execute a stat dec prior to the transaction finalising. Can you recommend a conveyancing practitioner in Hatton Park who can witness this legal document for me?
strictly speaking you should not be required to have the documents witnessed by a conveyancing solicitor. Normally or notary public or qualified solicitor will be fine regardless of whether they are based in Hatton Park
I am attracted to a two flats in Hatton Park which have about forty five years unexpired on the lease term. Do I need to be concerned?
There are plenty of short leases in Hatton Park. The lease is a right to use the premises for a prescribed time frame. As a lease gets shorter the saleability of the lease decreases and it becomes more costly to extend the lease. This is why it is generally wise to increase the term of the lease. It is often difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We recommend you get professional help from a conveyancer and surveyor with experience in this area.
I own a 2 bed flat in Hatton Park, conveyancing was carried out in 1999. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Hatton Park with a long lease are worth £222,000. The average or mid-range amount of ground rent is £50 per annum. The lease expires on 21st October 2095
With 70 years unexpired we estimate the premium for your lease extension to span between £9,500 and £11,000 as well as professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.
What tools are available to search for a Hatton Park conveyancing solicitor on the bank conveyancing panel? I have a car and am prepared to travel up to 15miles to attend the solicitor.
You can use the find a conveyancing panel search on this website. Please choose the lender and your location, in this case Hatton Park and you will see a number of lawyer located nearest Hatton Park. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the bank solicitor panel.