Our nephew is buying a new build apartment in Hengoed with a home loan from Clydesdale. His solicitor has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The form 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 Clydesdale conveyancing panel as a standard part of the process, and to the surveyor 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 Clydesdale conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
At what point will exchange of contracts occur in domestic conveyancing in Hengoed and am I required to be at the lawyers branch?
Where you are round the corner to our conveyancing solicitors in Hengoed you are invited in to sign contracts. However, the law practices we work with offer a countrywide conveyancing service and give just as detailed and professional a job for you when dealing with you by post or email. The executing of the contract is not the point of no return. A signed contract is just a prerequisite for the firm to officially exchange at the suitable time, which will usually be very shortly after signing. The procedure is is usually a five minute process, although where an extended "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Hengoed)to be in the office available at the end of the phone to exchange contracts.
Will commercial conveyancing searches disclose planned roadworks that could affect a commercial property in Hengoed?
Its becoming the norm that commercial conveyancing solicitors in Hengoed will conduct a SiteSolutions Highways report as it reduces the time that conveyancers invest in looking into accurate data on highways that impact buildings and development assets in Hengoed. The report provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Hengoed.
For each commercial conveyancing transaction in Hengoed it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately can cause delays to Hengoed commercial conveyancing deals as well as pose a risk to future intentions for the site. These searches are not conducted for residential conveyancing in Hengoed.
How does conveyancing in Hengoed differ for new build properties?
Most buyers of new build or newly converted property in Hengoed come to us having been asked by the seller to exchange contracts and commit to the purchase even before the residence is finished. This is because house builders in Hengoed tend to purchase the site, 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 property lawyers 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 Hengoed or who has acted in the same development.
I decided to have a survey carried out on a house in Hengoed before instructing lawyers. I have been told that there is a flying freehold overhang to the property. The surveyor has said that some banks tend not give a mortgage on such a premises.
It depends who your proposed lender is. HSBC has different requirements for example to Birmingham Midshires. Should you wish to telephone us we can look into this further with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Hengoed. Conveyancing will be smoother if you use a solicitor in Hengoed especially if they regularly deal with such properties in Hengoed.
My cousin has suggested that I instruct his conveyancers in Hengoed. Should I use them?
No doubt the best way to find a conveyancing practitioner is to get recommendations from friends or family who have previously instructed the solicitor you're are thinking of instructing.