Our grandson is buying a house that has just been built in Stansted with a mortgage from Santander. His lawyer has advised him of a delay in completing the ‘Disclosure of Incentive Form’. Who needs to receive the form?
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 Santander 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 Santander conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I just acquired a house at auction in Stansted. Conveyancing is required. What is next?
Now that you are exchanged you should instruct a conveyancing practitioner quickly as you will have a fast approaching a fixed date to complete the deal. All auction property should have a corresponding legal pack. This should include evidence of title and search results. If you have purchased leasehold property the conveyancing pack may contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork specific to leasehold premises. You need to pass this on to the conveyancer instructed by you at the earliest opportunity. You also need to ensure that you have funds in place to complete on the on the contractual date .
I have today made my last payment due on my mortgage with Principality. I assume I don't need a Stansted conveyancing practitioner on the Principality panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Principality 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 Principality mortgage from the register. Principality, 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 Principality has sent the Land Registry the discharge electronically, and
- Principality has instructed the Land Registry to do so
The formalities of my remortgage has taken place for my property in Stansted. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
Almost all lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Department at head office. We understand that complaints to a lender are resolved effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
I require fast conveyancing in Stansted as I have a deadline to complete within one month. Luckily I do not require a mortgage. Is it possible to decline from having conveyancing searches to save money and time?
As you are not obtaining a mortgage you have the choice not to do searches although no conveyancer would suggest that you don't. Drawing on years of experience of conveyancing in Stansted the following are instances of what can arise and adversely affect the marketability of the property: Refused Planning Applications, Outstanding Fees, Outstanding Grants, Unadopted Roads,...
four months have gone by since my purchase conveyancing in Stansted took place. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £160,000. 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 property 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've recently found out that there is a flying freehold element on a property I have offered on last month in what should have been a quick, chain free conveyancing. Stansted is where the house is located. Can you offer any guidance?
Flying freeholds in Stansted are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Stansted you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Stansted 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 residence.
I have been advised by a few property agents in Stansted to locate a solicitor using your seach tool. Is there a financial incentive for Estate Agents to market your services over and above a competitor’s?
We don’t make any referral fee for sending work our way. We found it would be just too difficult to pay a commission as a client could think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.