My son is about to exchange on a new build apartment in Maidenhead with a home loan from UBS. His lawyer 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 involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the UBS 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 UBS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I used Arc property Solicitors several years ago for my conveyancing in Maidenhead. I now require my file but cannot find the solicitor. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Maidenhead of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How does conveyancing in Maidenhead differ for new build properties?
Most buyers of new build premises in Maidenhead come to us having been asked by the builder to exchange contracts and commit to the purchase even before the premises is built. This is because developers in Maidenhead typically purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Maidenhead or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a property I put an offer in a fortnight ago in what should have been a simple, no chain conveyancing. Maidenhead is the location of the property. Is there any advice you can impart?
Flying freeholds in Maidenhead are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Maidenhead you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Maidenhead may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
In my capacity as executor for the will of my grandmother I am selling a property in Swansea but live in Maidenhead. My conveyancer (approximately 300 miles awayneeds me to sign a statutory declaration prior to completion. Can you recommend a conveyancing lawyer in Maidenhead to witness and place their company stamp on the document?
strictly speaking you should not be required to have the documents attested by a conveyancing solicitor. Normally any notary public or solicitor will be fine regardless of whether they are Maidenhead based
In relation to leasehold conveyancing in Maidenhead what are the most common lease problems?
There is nothing unique about leasehold conveyancing in Maidenhead. All leases are unique and drafting errors can sometimes mean that certain sections are erroneous. The following missing provisions could result in a defective lease:
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Repairing obligations to or maintain parts of the premises
A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, The Royal Bank of Scotland, and Nottingham Building Society all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, forcing the buyer to pull out.
Maidenhead Leasehold Conveyancing - Examples of Questions you should consider before buying
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The best form of lease arrangement is where the freehold title is owned by the leaseholders. In this scenario the leaseholders have being in charge if their destiny and even though a managing agent is frequently employed where the building is larger than a house conversion, the managing agent retained by the leaseholders. Best to be warned whether changing the roof or some other significant cost is due shortly that will be shared between the leaseholders and will dramatically increase the the service charges or result in a one off payment.