My grandson is about to exchange on a new build apartment in Hilton with a home loan from Lloyds. His solicitor has said that there is a delay in receiving 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 engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Lloyds conveyancing panel as a standard part of the process, and to the valuer 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 Lloyds conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
The Hilton conveyancing firm that I recently instructed on my house acquisition in Hilton have suddenly closed. I chose them because I needed a firm on the Lloyds conveyancing panel and my preferred Hilton lawyer was not. I paid them money on account. What are my options?
If you have an estate agent involved then inform them straight away so that they can let the sellers know that there may be a slight delay due to the problems encountered. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Lloyds conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers should be in a position to help.
Forgive me if this question is silly but I am wet behind the ears as FTB of a two bedroom flat in Hilton. Do I collect the keys to the house on completion from my conveyancer? If so, I will use a local conveyancing solicitor in Hilton?
On the day of completion you will not be required to go to the conveyancers office in Hilton. Conveyancing lawyers for you will arrange to send the completion advance to the seller's solicitors, and shortly after the monies have arrived, you should be called to collect the keys from the selling Agents and move into your new home. Usually this occurs early afternoon.
I'm the only recipient of my late mum's estate with all property in now in my sole name, including the my former home in Hilton. The Hilton property was put into my name in June. I plan to dispose of the house. I do know about the CML 6 month 'rule', which means that my property ownership could be treated the same way as though I had purchased the property in June. Do I have to wait 6 months to sell?
The CML handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be affected by that. How practical a view mortgage companies take of it, depend on the mortgage company as this requirement is chiefly there to pick up on subsales or the quick reselling of properties.
Having digested plenty of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Hilton solicitor - who is on the Yorkshire BS conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Yorkshire BS will need an independent valuation of the property. Your lawyer will not arrange this. Usually Yorkshire BS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Hilton surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
It has been 2 months following my purchase conveyancing in Hilton completed. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
The estate agent has sent us the confirmation of our purchase of a new build flat in Hilton. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below are examples of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Hilton
-
If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Forfeiture - bankruptcy or liquidation must not apply under this provision. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?
Given that I will soon part with over three hundred thousand on a terraced house in Hilton I wish to talk to a lawyer about myhouse move ahead of instructing the firm. Can this be arranged?
We could not agree more - it is our preference to talk to you we do not take any clients on without you speaking to the solicitor due to be doing your property ownership legalities in Hilton.There is no ‘factory style conveyancing’ - every client is unique individual, not a case number. The solicitors that we put you in touch with believe that the fees you are quoted for residential conveyancing in Hilton should be the figure that you end up paying.