My grandson is about to exchange on a new build apartment in Sanderstead with a home loan from UBS. His lawyer 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 UBS conveyancing panel as a standard part of the process, and to the surveyor 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 UBS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I have an AIP. The bank mentioned the mortgage came with free conveyancing. Does this mean I have to instruct their panel solicitor as I would much rather appoint a Sanderstead based conveyancing firm?
You should check but the chances are that appoint one of their panel lawyers if you want the "fee-free" offer. Contact the bank and check if they allow a cash alternative. In the past a few mortgage companies offered a £250 cashback as a further option in which case you could put that amount towards your preferred conveyancing solicitor in Sanderstead.
I used Arc property Solicitors a few years past for my conveyancing in Sanderstead. Now, I need my documents but 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 Sanderstead of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Over the last few months I have been searching for a leasehold apartment up to £305k and identified one close by in Sanderstead I like with open areas and railway links nearby, the downside is that it's only got 61 remaining years left on the lease. I can't really find anything else in Sanderstead for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you require a mortgage the remaining unexpired lease term will likely be an issue. Discount the price by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least twenty four months you may request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should consult your conveyancing solicitor concerning this matter.
What advice can you give us when it comes to choosing a Sanderstead conveyancing practice to deal with our lease extension?
If you are instructing a conveyancer for your lease extension (regardless if they are a Sanderstead conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with several firms including non Sanderstead conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. The following questions might be helpful:
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What volume of lease extensions has the firm completed in Sanderstead in the last 12 months?
Having spent months of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in Sanderstead. Can we issue an application to the Residential Property Tribunal Service?
Most definitely. We are happy to put you in touch with a Sanderstead conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Sanderstead premises is The Woodlands 95 Purley Park Road in April 2009. The Tribunals own valuation produced the figure of £37,912. This case affected 6 flats. The number of years remaining on the existing lease(s) was 78.32 years.
Our lender agreed in principle to issue us a mortgage. We have retained a reputable conveyancer in Sanderstead last week. This morning, our mortgage adviser phoned to advise us that the mortgage company said that we cannot use our solicitor as they aren't on their 'approved list'. As novices, we had no idea that the bank had a say Is this usual?
You can actually use any conveyencer you prefer to choose for your conveyancing in Sanderstead nevertheless if they are not on the your bank's panel you would have to fork out an extra fee so the bank can retain their own solicitors as well to protect their interest. It may be possible your solicitor may apply to get added to the lender panel. You can use internet search facilities such as lenderpanel.com to find a conveyancing solcitor in Sanderstead on the lender panel. You can go into your high street bank branch in Sanderstead. They will know some good conveyancing solicitors in Sanderstead on the panel for your bank.