Our nephew is buying a newly built flat in Tenterden with a mortgage from Yorkshire BS. His solicitor has advised him of 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 purchase. Therefore, it will be provided to your son’s lawyer who should be on the Yorkshire BS 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 Yorkshire BS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I moved into my apartment on 10 November and the transaction details are still not registered. Need I be worried? My conveyancing solicitor in Tenterden advises it would be recorded inside ten days. Are properties in Tenterden uniquely lengthy to register?
As far as conveyancing in Tenterden registration is no faster or slower than the rest of the country. As opposed to being determined by geographic area, timeframes can vary subject to the party submitting the application, whether it is in order and whether the Land registry must send notices to any third parties. As of today approximately 80% of such applications are fully addressed in less than three weeks but occasionally there can be extensive delays. Historically registration occurs once the buyer has moved in to the property so 'speed' is not always top priority yet if it is urgent that the the registration takes place urgently then you or your solicitor should speak with the land registry and explain the circumstances.
Due to the guidance of my in-laws I had a survey completed on a property in Tenterden before instructing lawyers. I have been advised that there is a flying freehold overhang to the house. Our surveyor advised that some mortgage companies may refuse to issue a loan on a flying freehold house.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Nationwide. If you contact us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Tenterden. Conveyancing may be slightly more expensive based on your lender's requirements.
I need to find a conveyancing solicitor for sale conveyancing in Tenterden. I have chance upon a site which appears to be the ideal answer If there is a chance to get all formalities done via email that would be preferable. Should I be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
What are your top tips when it comes to choosing a Tenterden conveyancing practice to deal with our lease extension?
When appointing a conveyancer for your lease extension (regardless if they are a Tenterden conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with two or three firms including non Tenterden conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. The following questions could be of use:
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What are the legal fees for lease extension work? If they are not ALEP accredited then why not?
I acquired a 1 bedroom flat in Tenterden, conveyancing was carried out half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding properties in Tenterden with an extended lease are worth £227,000. The ground rent is £50 yearly. The lease ceases on 21st October 2098
With only 72 years left to run we estimate the premium for your lease extension to span between £9,500 and £11,000 as well as costs.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.
I am short of a 10% deposit on my flat purchase in Tenterden , but I am anxious exchange. Do I have options?
You can accept a lower deposit. Many sellers will accept a lower deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last second