My nephew is about to exchange on a newly built flat in Hindhead with a home loan from Santander. His conveyancer has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The form is intended to provide information to the main parties involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Santander 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 Santander conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
It is a dozen years since I bought my home in Hindhead. Conveyancing solicitors have recently been retained on the sale but I can't locate my deeds. Is this a problem?
You need not be too concerned. Firstly there is a possibility that the deeds will be with the lender or they may be archived with the lawyers who handled your purchase. Secondly the likelihood is that the land will be registered at the land registry and you will be able to establish that you are the registered owner by your conveyancing lawyers obtaining up to date copy of the land registers. Most conveyancing in Hindhead involves registered property but in the unlikely event that your property is unregistered it adds to the complexity but is not insurmountable.
What will a local search reveal concerning the house I am purchasing in Hindhead?
Hindhead conveyancing often starts with the submitting local authority searches directly from your local Authority or via a personal search organisations for instance PSG The local search plays a central part in most Hindhead conveyancing purchase; that is if you don’t want any nasty once you have moved into your property. The search should supply information on, amongst other things, details on planning applications applicable to the premises (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 13 subject sections.
I'm buying my first flat in Hindhead with the aid of help to buy. The sellers refused to budge the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The property agent advised me not reveal to my conveyancer about the extras as it may put at risk my mortgage with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer 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 estate of my grandmother I am disposing of a property in Swansea but I am based in Hindhead. My solicitor (who is 260 kilometers awayneeds me to sign a statutory declaration before completion. Could you suggest a conveyancing solicitor in Hindhead to witness this legal document for me?
strictly speaking you should not need to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will suffice regardless of whether they are Hindhead based
My wife and I purchased a leasehold flat in Hindhead. Conveyancing and The Royal Bank of Scotland mortgage are in place. I have received a letter from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1993. The conveyancing solicitor in Hindhead who acted for me is not around. What should I do?
First make enquiries of the Land Registry to make sure that this person is indeed the new freeholder. There is no need to incur the fees of a Hindhead conveyancing firm to do this as you can do this on the Land Registry website for less than a fiver. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am the registered owner of a studio flat in Hindhead, conveyancing having been completed March 2005. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable flats in Hindhead with an extended lease are worth £190,000. The average or mid-range amount of ground rent is £65 levied per year. The lease finishes on 21st October 2086
With just 61 years unexpired we estimate the price of your lease extension to be between £19,000 and £22,000 plus professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. Do not use the figures 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. You should not take any other action placing reliance on this information before seeking the advice of a professional.