My son-in-law is in the process of securing a new build apartment in Heath with a home loan from Virgin Money. His conveyancer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The document 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 Virgin Money 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 Virgin Money conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I have been told that property searches are the number one reason for stalling in Heath conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) published findings of a review by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of delays during the legal transfer of property. Searches are unlikely to be the root cause of holding up conveyancing in Heath.
I got the keys to my home on 11 January and my personal details is not yet on the land registry website. Should I be concerned? My conveyancing solicitor in Heath expressed confidence that it will be concluded in less than a month. Are properties in Heath particularly slow to register?
As far as conveyancing in Heath is concerned, registration is no quicker or slower than the rest of the country. Rather than based on location, timeframes can adjust depending on who lodges the application, whether it is in order and if the Land registry need to notify any third parties. Currently approximately three quarters of submission are completed in less than three weeks but occasionally there can be longer hold-ups. Historically registration takes place after the buyer has moved in to the premises so 'speed' is not typically top priority but where there is a degree of urgency associated with the registration then you or your lawyers should contact the land registry and explain the circumstances.
I've recently found out that there is a flying freehold issue on a house I put an offer in two weeks back in what was supposed to be a straight forward, chain free conveyancing. Heath is the location of the property. Can you shed any light on this issue?
Flying freeholds in Heath are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Heath you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Heath may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
Is it possible to swap conveyancer as I have to appoint one who is on the Barclays Direct conveyancing panel. I hired a high street conveyancing solicitor in Heath round the corner but the firm is not accepted by Barclays Direct
We will our best to assist in finding you a conveyancing solicitor in Heath on the Barclays Direct panel. Please note that the law firms that we work with do not pay us fee if you instruct them and are fully regulated by the Solicitors Regulation Authority who oversee all conveyancing solicitors in Heath. In making use of search facility on this site, you can contrast costs for conveyancing solicitors in Heath and throughout England and Wales.
What advice can you give us when it comes to finding a Heath conveyancing firm to carry out our lease extension conveyancing?
When appointing a conveyancer for your lease extension (regardless if they are a Heath conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We suggest that you make enquires with several firms including non Heath conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions might be of use:
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What volume of lease extensions have they conducted in Heath in the last 12 months?
I invested in buying a basement flat in Heath, conveyancing having been completed October 1999. Can you work out an approximate cost of a lease extension? Equivalent flats in Heath with an extended lease are worth £176,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease expires on 21st October 2105
You have 80 years left to run we estimate the price of your lease extension to be between £8,600 and £9,800 plus costs.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of detailed due diligence. You should not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.