My nephew is buying a house that has just been built in Penwortham with a home loan from Kent Reliance. His solicitor has advised him of 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 Kent Reliance 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 Kent Reliance conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
It is a dozen years since I acquired my house in Penwortham. Conveyancing lawyers have recently been instructed on the sale but I am unable to find my title deeds. Is this a problem?
Don’t worry too much. Firstly there is a chance that the deeds will be retained by your lender or they may be in the possession of the solicitor who oversaw the purchase. Secondly the chances are that the title will be recorded at the land registry and you will be able to establish that you are the registered owner by your conveyancing lawyers acquiring up to date copy of the land registers. Most conveyancing in Penwortham involves registered property but in the unlikely event that your property is unregistered it is more tricky but is resolvable.
Due to the input of my in-laws I had a survey completed on a house in Penwortham in advance of appointing lawyers. I have been informed that there is a flying freehold element to the property. The surveyor advised that some banks will not grant a mortgage on this type of house.
It varies from the lender to lender. Santander has different instructions from Halifax. If you e-mail us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Penwortham. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Penwortham to see if the conveyancing costs will increase in light of this.
I'm remortgaging my current house to a BTL loan with Bank of Scotland and intend to use the remaining equity as a deposit on a second property. The neighborhood we are talking about is Penwortham. Will your solicitors be able to act for both sets of banks and link together the transactions?
Do use our comparison tool on this site to ensure that the solicitors are approved by both lenders. Assuming that they are the solicitor will be able to connect the two deals but you should talk with you solicitor and make apparent your expectations and requirements.
Can you offer any advice when it comes to finding a Penwortham conveyancing firm to deal with our lease extension?
If you are instructing a solicitor for your lease extension (regardless if they are a Penwortham conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with several firms including non Penwortham conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions could be helpful:
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If they are not ALEP accredited then what is the reason? How familiar is the practice with lease extension legislation?
Penwortham Conveyancing for Leasehold Flats - Examples of Queries Prior to buying
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What is the length of the lease? The best form of lease arrangement is a share of the freehold. In this situation the lessees benefit from being in charge if their destiny and even though a managing agent is frequently employed if the building is larger than a house conversion, the managing agent retained by the leaseholders. How much is the ground rent and service charge?
Our lawyer in Penwortham has informed me that he requires ID documents saying that this forms part of his legal duty as a solicitor on the lender Conveyancing panel. Can you confirm whether this is the case?
Due to Money Laundering Regulations your conveyancing lawyer is duty bound to confirm positively your identification when entering into a business relationship with you. It is a criminal offence if your lawyer not do this. If you do not provide ID early in the transaction the solicitor must refuse to act for you. It’s unlikely a lawyer will turn you away if you come to the first meeting without relevant ID but you will have to produce it at some point so you might as well bring it with you to the initial meeting so the lawyer can tick the ID verification box and start sorting out the conveyancing straight away. If you are getting a mortgage, your lawyer also has to check ID documents to satisfy the lender. This is not unique to conveyancing in Penwortham