Our son-in-law is purchasing a house that has just been built in Kirkbymoorside with a home loan from Santander. 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 Santander 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 Santander conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
We note that you have a post code search directory identifying solicitors on the Principality conveyancing panel. Do firms pay you a commission if I instruct them for our own conveyancing in Kirkbymoorside?
We are a listing service only for law firms wishing to communicate if they are on the Principality conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Kirkbymoorside.
My Conveyancer in Kirkbymoorside is not on the Britannia Approved Panel. Is it possible for me to retain my family solicitor notwithstanding that they are not on the Britannia list of approved lawyers?
Your options are as follows:
- Carry on with your existing Kirkbymoorside lawyers but Britannia will need to instruct a lawyer on their panel. This will inevitably rack up the overall legal fees as well as cause delays.
- Choose a new solicitor to to deal with the purchase, not forgetting to check they are Britannia approved.
- Try to convince your Britannia solicitor to attempt to join the Britannia panel
This question may be naive but I am unexperienced as a 1st time purchaser of a ground floor flat in Kirkbymoorside. Do I collect the keys to the premises on completion from my conveyancer? If this is the case, I will find a High Street conveyancing solicitor in Kirkbymoorside?
On the day of completion you will not be required to attend the conveyancers office in Kirkbymoorside. Your solicitors will arrange to send the purchase money to the vendor’s lawyers, and shortly after the monies have arrived, you will be called to receive the keys from the Estate Agents and start moving into the property. Usually this happens between 1 and 3pm.
I am the only recipient of my late father’s estate with all property in now in my sole name, including the house in Kirkbymoorside. Conveyancing formalities meant that the Land Registry date was in February. I plan to dispose of the house. I understand that there is a Mortgage Lenders six month 'rule', which means that my property ownership will be treated the same way as though I had purchased the house in February. 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." By the strict wording you could be impacted by that. How sensible a view banks take of it, depend on the mortgage company as this provision principally exists to identify subsales or the flipping of property.
We were going to get a DIP from Clydesdale 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 Clydesdale recommend any Kirkbymoorside solicitors on the Clydesdale conveyancing panel, or is it better to go independently?
You will need to appoint Kirkbymoorside solicitors independently although you'll need to choose one on the Clydesdale conveyancing panel. The solicitor represents both you and Clydesdale through the process.
I am buying a new build flat in Kirkbymoorside. Conveyancing is a frightening process 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 conveyancing.
Here is a sample of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Kirkbymoorside
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Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? 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. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Forfeiture - bankruptcy or liquidation must not apply under this provision.
We own a leasehold flat in Kirkbymoorside. Conveyancing was completed in five years ago. I have read on a number of advice forums that I mustn’t let the lease length get too low. What is the reasoning?
Kirkbymoorside leasehold properties are for a fixed term - usually ninety nine years when they are first granted. However a significant appartments in Kirkbymoorside were built or converted 20 or more years ago and so these leases now have less than eighty years left to run. This may sound like plenty of time but Banks, Building Societies and other mortgage lenders on the whole need leases to have a minimum of seventy five years remaining to adequate security. This means that when you come to sell the property you will need a lease extension if you are approaching eighty years. To optimize your property value you should be considering whether or not to extend your lease long before you come to sell it. Please note that there are advantages to doing so before the lease hits eighty years as when the lease is less than 80 years the premium to be paid to extend starts to get a lot more expensive.