My god-son is buying a house that has just been built in Islington with a mortgage from Lloyds. His solicitor has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The form is intended to provide information to the main parties engaged in the transaction. 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.
We are aiming to move property in August. Does my conveyancing solicitor update the removal company on the completion day. On a separate note, can you suggest a removal company in Islington. Conveyancing firm was chosen prior to coming across your website.
On the afternoon of completion you will need to pick up the house keys from the property agent however this should only be done when the vendors lawyers confirm to the agent that they acknowledge receipt of the completion payment and the keys can be collected. Subsequently you can advise the removal men that you are ready to move in. As a matter of policy we do not suggest a specific removal organisation but can help you find a residential property solicitor in Islington or a legal practice with expertise in conveyancing in Islington.
We were going to get a AIP from RBS this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do RBS recommend any Islington solicitors on the RBS conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Islington solicitors independently although you'll need to choose one on the RBS conveyancing panel. The solicitor represents both you and RBS through the process.
Our offer on a semi in Islington has been accepted, the sellers do nevertheless have a connected purchase. The owners have offered on on an apartment, but it’s not yet agreed to, and are looking at other flats booked. I have chosen a local conveyancing solicitor in Islington. What do I do now? At what stage should I apply for the mortgage with Principality?
It is usual to have anxieties where there is a chain as you are unlikely to want to be too out of pocket prematurely (home loan application is approx £1k, then survey, Islington conveyancing search charges, etc). First, you should ensure that your conveyancer is on the Principality approved list. Concerning the subsequent stages this very much depends on the circumstances of your transaction, attraction to this property and on the state of the market. In a buoyant market some purchasers would apply for the mortgage with Principality and pay for the valuation and only if it was satisfactory would they ask their conveyancing practitioner to proceed with the conveyancing in Islington.
4 months have elapsed since my purchase conveyancing in Islington took place. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £215,000. 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 asset 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.
Just had an offer accepted on a new build flat in Islington. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below are examples of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Islington
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The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Please supply a car parking plan. Please supply evidence that the form of Lease proposed has been approved by the Land Registry.
I have been on the look out for a leasehold apartment up to £305k and found one near me in Islington I like with open areas and station nearby, however it only has 61 years on the lease. There is not much else in Islington in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?
Should you need a home loan that many years will likely be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least 2 years you may ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer about this.
In my capacity as executor for the estate of my grandmother I am disposing of a house in Neath but live in Islington. My lawyer (who is 250 kilometers from mehas requested that I sign a statutory declaration before completion. Can you recommend a conveyancing practitioner in Islington who can witness and place their company stamp on the document?
strictly speaking you should not be required to have the documents witnessed by a conveyancing solicitor. Ordinarily or notary public or qualified solicitor will suffice regardless of whether they are based in Islington