Our grandson is in the process of securing a newly built flat in Old Malden with a mortgage from RBS. His conveyancer has said that there is a delay in completing 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 RBS conveyancing panel as a standard part of the process, and to the surveyor when asked. 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 RBS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Will lawyers request money on account for conveyancing in Old Malden?
If you are buying a property in Old Malden your lawyer will ask you put them with monies to cover the the cost of the conveyancing searches. Normally this is needed to cover the fees of the conveyancing searches. When the deposit is as part of the sale price then this should be asked for shortly prior to contracts are exchanged. Any further balance that is needed should be transferred a couple of days prior to the day of completion.
We wanted to use a conveyancing solicitor in Old Malden for our house purchase. Our broker has since notified us that our mortgage company Clydesdale won't deal with them. Surely this is unduly restrictive?
A decade ago most lenders had an appetite for risk which was higher than today. Almost all Old Malden conveyancing firms would have been on many bank panels. The FSA in 2010 conducted a thematic review into mortgage fraud which come to the conclusion: know the conveyancing solicitors dealt with. Consequently, mortgage companies are increasingly seeing more information from law firms about their operations and the individuals who work for them and set certain criteria such a completing on a minimum amount of conveyancing. Many Old Malden conveyancing firms that have been excluded from lender panels have Unblemished track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Old Malden is one of the numerous areas where the conveyancers we list are are approved Clydesdale.
I am purchasing a property in Old Malden. One unusual aspect is that the roof has a solar panel. Coventry BS have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is Coventry BS your lawyer must follow the formal instructions set out in Section 2 of UK Finance Lenders’ Handbook for Coventry BS. The Council of Mortgage Lenders’ Handbook sets out minimum provisions for solar panel roof-space leases, and lawyers are required to report to Coventry BS where a lease does not meet these requirements. The provisions relate to the installation of panels on properties countrywide and is not limited to Old Malden.
My partner and I are at the point of viewing flats in Old Malden and I am now considering a potential offer. Is it wise to have my conveyancer on ‘stand by’? I intend to finance via a home loan with Aldermore.
You should start obtaining conveyancing quotes from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their contact information on to the estate agent. As you are seeking a mortgage with Aldermore, ask your prospective lawyers if they are on the Aldermore conveyancing panel otherwise they can't do the mortgage legal work.
I can not work out if my mortgage offer requires a lease extension. I have telephoned my Old Malden building society branch on a couple of occasions and was advised it wasn't an issue and they will lend. My Old Malden conveyancing solicitor - who is on the lender conveyancing panel- telephoned to say that they would not lend based on their specific requirements. I simply don't know who is right.
The property lawyer has to follow the CML Handbook Part 2 provisions for your bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
Are there any apps to assist me to locate a Old Malden law firm on the Britannia conveyancing panel? I drive a motor bike and am prepared to travel upto 20kilometers to meet the lawyer.
Feel free to make use of the facility on this page. Please select a lender and your location and you will see a number of Old Malden conveyancing lawyers locally. We have listed some Old Malden conveyancing firms towards the end of this page and you can telephone them to see whether they are on the Britannia approved list
All being well we will complete the sale of our £275,000 flat in Old Malden next week. The freeholder has quoted £372 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Old Malden?
Old Malden conveyancing on leasehold maisonettes usually requires the purchaser’s solicitor sending questions for the landlord to address. Although the landlord is not legally bound to respond to these enquiries most will be content to do so. They are at liberty to levy a reasonable administration fee for responding to questions or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is £350, in some transactions it exceeds £800. The management information fee levied by the landlord must be sent together with a summary of rights and obligations in respect of administration fees, otherwise the charge is technically not due. Reality however dictates that one has no choice but to pay whatever is requested of you if you want to complete the sale of your home.
My wife and I have hit a brick wall in negotiating a lease extension in Old Malden. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Most definitely. We are happy to put you in touch with a Old Malden conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Old Malden premises is Flat D 15 Claremont Gardens in September 2013. TheTribunal determined in accordance with section48 and Schedule13 of the Leasehold Reform,Housing and Urban Development Act 1993 that the premium for the extended lease should be fourteen thousand one hundred and eighty seven pounds (£14,187.00) This case related to 1 flat.