Our grandson is in the process of securing a house that has just been built in Thatcham with a mortgage from Santander. His lawyer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The document 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 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.
Forgive me if this question is silly but I am wet behind the ears as FTB of a ground floor flat in Thatcham. Do I collect the keys to the house on completion from my solicitor? If this is the case, I will find a High Street conveyancing solicitor in Thatcham?
On the day of completion you will not be required to go to the conveyancers office in Thatcham. Your solicitors will arrange to send the completion advance to the vendor’s lawyers, and shortly after the monies have arrived, you will be able to receive the keys from the selling Agents and move into your new home. Usually this occurs between 1 and 3pm.
I am selling my house. I had a double glazing fitted in October 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Skipton are being problematic. The Thatcham solicitor who is on the Skipton conveyancing panel is recommending indemnity insurance as a solution but Skipton are insisting on a building regulation certificate. Why do Skipton have a conveyancing panel if they don't accept advice from them?
It is probably the case that Skipton have referred the matter to their valuer. The reason why Skipton may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Skipton have agreed my home loan in principle, my offer on a flat in Thatcham has been agreed to, now what?
Your property agent will need to be informed of your conveyancer's details (ensure that the conveyancing practitioners are on the bank’s approved list). Contact Skipton or your broker and finalise any appropriate paperwork. Skipton will appoint a valuer who will get in touch with the selling agent or vendor to book a slot for the valuation to happen. Once carried out (assuming no problems) it takes about a fortnight for the mortgage offer to be issued. Skipton will issue the offer to you and your solicitors. The transaction will then take it’s course according the nature and complexity of the conveyancing in Thatcham.
3 months have elapsed since my purchase conveyancing in Thatcham 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 have been on the look out for a leasehold apartment up to £195,000 and found one close by in Thatcham I like with a park and transport links in the vicinity, however it only has 61 years unexpired on the lease. I can't really find anything else in Thatcham in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you require a mortgage the remaining unexpired lease term will likely be an issue. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least twenty four months you can ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this.
Am I best advised to use a Thatcham conveyancing solicitor in close proximity to the house I am purchasing? An old friend can carry out the legal work however they are based approximately 350kilometers away.
The primary upside of using a high street Thatcham conveyancing firm is that you can visit the firm to sign paperwork, present your identification documents and pester them where appropriate. They will also have local insight which is a bonus. That being said it's more important to get someone that will do a good and efficient job. If you know people who used your friend and in the main were happy that should outweigh using an unfamiliar Thatcham conveyancing lawyer just because they are Thatcham based.
Should one as executor remove a deceased person's details from the title deeds for a property in Thatcham?
If a Thatcham property is co-owned and one of the proprietors passes away, their name will not automatically be removed from the Land Registry title. You are not required to amend the title as when it comes to a disposal you would just be asked to evidence as to the reason the other owner is not a party to the transfer, such as the probate documents.
With the aim of making things smoother for the sale of the property you can arrange to have the deceased person removed from the title by applying to the land registry with evidence of the death. There is no charge from the Registry for this service.