My nephew is purchasing a newly built flat in Noak Hill with a mortgage from Virgin Money. His lawyer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The document 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 Virgin Money 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 Virgin Money conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Are all Noak Hill Conveyancing Quality Solicitors on the TSB conveyancing panel?
A selection of lenders now make use of CQS as the kick off point for Panel membership such as HSBC and Santander. The Law Society’s CQS accreditation however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of firms.
We are getting a further advance on our mortgage from Barclays as we intend to conduct a loft conversion to our home in Noak Hill. Do we need to select a high street Noak Hill solicitor on the Barclays conveyancing panel to deal with the paperwork?
Barclays would not normally instruct firms on their conveyancing panel to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Barclays list.
I am buying a property in Noak Hill. One unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Lloyds be concerned?
Given that your lender is Lloyds your lawyer must follow the conveyancing requirements contained in Part two of UK Finance Lenders’ Handbook for Lloyds. The Council of Mortgage Lenders’ Handbook contains minimum conditions for solar panel roof-space leases, and property lawyers are required to report to Lloyds where a lease fails to comply with these provisions. The specifications relate to the installation of panels on properties countrywide and is not limited to Noak Hill.
Are there restrictive covenants that are commonly identified during conveyancing in Noak Hill?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Noak Hill. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Due to the advice of my in-laws I had a survey completed on a property in Noak Hill before instructing conveyancers. I have been advised that there is a flying freehold overhang to the property. My surveyor has said that some banks may not give a mortgage on a flying freehold house.
It varies from the lender to lender. HSBC has different requirements from Halifax. If you contact us we can look into this further via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Noak Hill. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Noak Hill to see if the conveyancing costs will increase in light of this.
How easy is it to use your search tool to find a conveyancing practitioner in Noak Hill on the panel for my lender?
Step one is to select a bank such as Yorkshire Building Society, Coventry Building Society or Alliance & Leicester then type in your location e.g. Noak Hill. Conveyancing practices in Noak Hill and across England and Wales should be shown.
Having checked my lease I have discovered that there are only Seventy years unexpired on my lease in Noak Hill. I need to extend my lease but my freeholder is can not be found. What should I do?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the Court. However, you will be required to demonstrate that you or your lawyers have done all that could be expected to locate the lessor. In some cases a specialist should be useful to conduct investigations and prepare a report to be accepted by the court as proof that the landlord is indeed missing. It is wise to seek advice from a solicitor both on devolving into the landlord’s absence and the application to the County Court overseeing Noak Hill.
I have given up trying to purchase the freehold in Noak Hill. Can this matter be resolved via the Leasehold Valuation Tribunal?
if there is a absentee landlord or where there is dispute about the premium for a lease extension, under the relevant statutes it is possible to make an application to the First-tier Tribunal (Property Chamber) to determine the price payable.
An example of a Lease Extension matter before the tribunal for a Noak Hill property is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case was in relation to 1 flat. The unexpired lease term was 57.5 years.