Our son-in-law is purchasing a newly built flat in Putney with a home loan from Leeds Building Society. 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 form is intended to provide information to the main parties involved in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Leeds Building Society 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 Leeds Building Society conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
My brother-in-law has suggested I instruct a conveyancing solicitor in Putney. I I am struggling to find out whether they are on the Leeds Building Society approved list of lawyers. Can you help?
The first thing to do is call the solicitor and enquire if they can act for the lender. Otherwise please call Leeds Building Society who may be able to assist.
My wife and I are purchasing a flat in Putney. It might be a silly question but how we can trust a conveyancer? At some point we will need to deposit our life savings into their account. What protection do we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
There are numerous conveyancing solicitors in Putney but how do I know who I should use?
We would encourage you not to base your choice on the lowest Putney conveyancing fees. You really do get what you’re paying for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of time.
My uncle pointed out to me me that in buying a property in Putney there may be various restrictions preventing external changes to the property. Is this right?
There are anumerous of properties in Putney which have some sort of restriction or requirement of consent to carry out external alterations. Part of the conveyancing in Putney should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Are there restrictive covenants that are commonly identified during conveyancing in Putney?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Putney. 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…’
Yesterday I discovered that there is a flying freehold element on a house I have offered on two weeks back in what was supposed to be a quick, chain free conveyancing. Putney is where the house is located. Can you offer any guidance?
Flying freeholds in Putney are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Putney you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Putney may determine 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 premises.
I pay a service charge for my appartment in Putney. Due to redundancy and personal issues I slipped into arrears with payments. The managing agents agreed a clearance plan but there remains approximately £1750 currently due.
I want to sell and I am panicking this may jeopardize the sale if I have to discharge the arrears now. I'd like to sell up and then pay them back with the completion monies - is this possible?
Your property lawyer will hopefully be able to negotiate with the appropriate parties, with a new to seeing if they would accept settlement from sale proceeds. This is an example of why it is advisable to choose a property lawyer in Putney as they may well have an open line of communication with the management company.