My god-son is in the process of securing a new build apartment in Oval with a mortgage from TSB. His solicitor has advised him of 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 engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the TSB 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 TSB conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I am the sole recipient of my late grandmother’s will with all property in now in my sole name, including the my former home in Oval. The Oval property was put into my name in August. I now wish to sell up. I do know about the Mortgage Lenders six month 'rule', which means that my property ownership could be treated the same way as if I'd bought the property in August. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook mandates solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be affected by that. many mortgage companies would take a pragmatic view as this requirement is principally there to identify subsales or the flipping of properties.
I have paid off my mortgage with Kent Reliance. I assume I don't need a Oval solicitor on the Kent Reliance panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Kent Reliance mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Kent Reliance mortgage from the register. Kent Reliance, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Kent Reliance has sent the Land Registry the discharge electronically, and
- Kent Reliance has instructed the Land Registry to do so
I am selling my flat. I had a double glazing fitted in June 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Co-operative are being pedantic. The Oval solicitor who is on the Co-operative conveyancing panel is saying indemnity insurance will be fine but Co-operative are insisting on a building regulation certificate. Why do Co-operative have a conveyancing panel if they don't accept advice from them?
It is probably the case that Co-operative have referred the matter to their valuer. The reason why Co-operative may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I used Action Conveyancing several years ago for my conveyancing in Oval. I now require my file however cannot find the solicitor. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to help locate 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 Oval of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am looking for a ground for flat up to £305k and identified one close by in Oval I like with amenity areas and transport links nearby, however it only has 52 years unexpired on the lease. There is not much else in Oval in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you need a home loan that many years will likely be a potential deal breaker. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of 2 years you could request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this matter.
My uncle has recommend that I instruct his conveyancing solicitors in Oval. Should I use them?
There are no two ways about it it’s preferable to choose a conveyancing practitioner is to seek recommendations from friends or relatives who have actually previously instructed the solicitor that you are are thinking of instructing.
Our financial adviser has recommended their property lawyer for my conveyancing in Oval - Is it not simpler easier to just instruct them?
It is worth checking if the selling agent is recommending a lawyer or introducing to a solicitor. There are plenty of Oval estate agents who recommend two or three Oval conveyancing firms and get nothing from it.