Our son is purchasing a new build apartment in Mayfield with a home loan from Barclays. 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 engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Barclays 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 Barclays conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
At what point does exchange of contracts take place for purchase conveyancing in Mayfield and do I need to attend the solicitors office?
If you are round the corner to our conveyancing solicitors in Mayfield you are welcome to attend to sign contracts. However, the firms we recommend provide a national conveyancing service and give as equally comprehensive and professional a job for you when communicating with you electronically. The executing of the contract is not the critical part. Signing on the dotted line is just a prerequisite for the solicitor to exchange contracts when the time is right, which is ordinarily shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where an extended "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Mayfield)to be in the office available at the end of the phone to exchange contracts.
I have been told that property searches are a common cause of stalling in Mayfield house deals. Is this right?
The Council of Property Search Organisations (CoPSO) released determinations of research by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of delays in the conveyancing process. Local searches are unlikely to feature in any delay in conveyancing in Mayfield.
The deeds to my property are lost. The solicitors who dealt with the conveyancing in Mayfield 5 years ago have long since closed. What are my options?
Assuming you have a registered title the information relating to your ownership will be retained by HMLR under a Title Number. It is possible to perform a search at the Land Registry, find your house and order up to date copies of the Registered Entries for less than a fiver. If the title is Leasehold then the Land Registry will in most cases retain a certified copy of the Registered Lease and again, a copy can be ordered for a small fee.
I've recently found out that there is a flying freehold element on a property I have offered on two weeks back in what should have been a quick, chain free conveyancing. Mayfield is the location of the property. Can you offer any opinion?
Flying freeholds in Mayfield are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Mayfield you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Mayfield may ascertain 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 residence.
Been looking for a property lawyer for leasehold sale conveyancing in Mayfield. We are selling, simple no mortgage to redeem, no hurry, no onward chain. Received an estimate from a conveyancing practitioner for £800 plus VAT which is a little steep given that its so straightforward. Is it possible to find less expensive fees for conveyancing in Mayfield?
Given that it’s a sale only, £450 + VAT should be about the lowest for a Mayfield solicitor firm.