My grandson is purchasing a new build apartment in South Woodham Ferrers with a home loan from Skipton. His lawyer has said that there is a delay in receiving 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 Skipton conveyancing panel as a standard part of the process, and to the valuer 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 Skipton conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I need some expedited conveyancing in South Woodham Ferrers as I am under an ultimatum to complete inside one month. Thankfully I do not need a mortgage. Can I avoid the conveyancing searches to save fees and time?
As you are are a cash buyer you are at free not to have searches conducted although no solicitor would advise that you don't. Drawing on our experience of conveyancing in South Woodham Ferrers the following are examples of issues that can arise and adversely impact the marketability of the property: Enforcement Notices, Overdue Charges, Outstanding Grants, Railway Schemes,...
It has been 2 months since my purchase conveyancing in South Woodham Ferrers concluded. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am buying a new build house in South Woodham Ferrers with a mortgage from Virgin Money. The developers refused to reduce the amount so I negotiated £7000 of fixtures and fittings instead. The property agent advised me not reveal to my lawyer about the extras as it may put at risk my loan with Virgin Money. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
My wife and I purchased a leasehold house in South Woodham Ferrers. Conveyancing and Barclays mortgage organised. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1992. The conveyancing solicitor in South Woodham Ferrers who acted for me is not around. Do I pay?
First make enquiries of HMLR to be sure that this person is indeed the new freeholder. There is no need to incur the fees of a South Woodham Ferrers conveyancing solicitor to do this as you can do this on the Land Registry website for less than a fiver. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
South Woodham Ferrers Conveyancing for Leasehold Flats - A selection of Questions you should consider Prior to Purchasing
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If a South Woodham Ferrers lease has less than 80 years it will impact the salability of the apartment. It is worth checking with your bank that they are content with remaining years on the lease. A short lease means that you will most likely require a lease extension sooner rather than later and it is worth discovering what this will be. Remember, in most cases you would need to own the residence for 24 months in order to be legally able to carry out a lease extension. The best form of lease structure is where the freehold reversion is in the ownership of the leaseholders. In this situation the lessees benefit from being in charge if their destiny and although a managing agent is usually employed if the building is bigger than a house conversion, the managing agent is directed by the tenants. Are there any major works in the planning that will increase the service fees?
How do I discover who owns a house in South Woodham Ferrers?
As long as the property is registered with the Land Registry, and you have the details of the address of the premises, you will be able to see details from the HMLR of the recorded owner for a for less than a fiver.