My god-son is purchasing a new build apartment in Hook with a mortgage from RBS. 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 engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the RBS 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 RBS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I am purchasing a new build house in Hook benefiting from help to buy. The sellers refused to reduce the amount so I negotiated 6k of additionals instead. The sale representative told me not reveal to my solicitor about the extras as it will affect my loan with the lender. Should I keep quiet?.
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.
Due to the input of my in-laws I had a survey completed on a property in Hook before retaining lawyers. I have been informed that there is a flying freehold overhang to the house. The surveyor has said that some mortgage companies will refuse to issue a loan on this type of house.
It depends who your proposed lender is. HSBC has different requirements from Nationwide. Should you wish to call us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Hook. Conveyancing will be smoother if you use a solicitor in Hook especially if they regularly deal with such properties in Hook.
Am I right to be suspicious about 3rd parties that I am dealing with are recommending a national conveyancing firm as opposed to a High Street Hook conveyancing practice?
As is the case with lots of professional services, often suggestions from connections can be worth their weight in gold. But there are lots of people with a vested interest in a conveyancing transaction; estate agents, financial adviser and mortgage companies might all recommend solicitors to use. Sometimes the solicitors might be known to one of the organisations as one of the best in their field, but sometimes there exists a financial incentive behind the recommendation. You have the discretion to choose your preferred conveyancer. However, bear in mind that some lenders specify a panel list of conveyancers you are obliged to use for the lender aspect of your house move.
I’m about to sell my 2 bed flat in Hook. Conveyancing is yet to be initiated, but I have recently had a yearly service charge demand – Do I pay up?
The sensible thing to do is clear the invoice as you normally would because all ground rent and maintenance charges should be allotted as part of the financial calculations for completion monies, so you will be reimbursed by the purchaser for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I have had difficulty in trying to reach an agreement for a lease extension in Hook. Can the Leasehold Valuation Tribunal adjudicate on premiums?
You certainly can. We can put you in touch with a Hook conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Hook property is Flat D 15 Claremont Gardens in September 2013. TheTribunal determined in accordance with section48 and Schedule13 of the Leasehold Reform,Housing and Urban Development Act 1993 that the premium for the extended lease should be fourteen thousand one hundred and eighty seven pounds (£14,187.00) This case was in relation to 1 flat.
My mum and dad cant seem to find their Hook property on the HMLR website. They have a vague memory back in the 60’s when they purchased the house there were complications with Hook not being recognised in some systems.
Almost all premises in Hook should appear. Have you limited your search with just the postcode. Normally it should mention all the premises inside that postcode. Where registered it will be there with a title number. If they bought 48 years ago it's conceivable it may be unregistered. The property might still be revealed but with the title number shown 'na'. In this scenario you will need to track down the original title papers which may be with your parent’s mortgage company.