My nephew is purchasing a new build apartment in Walkden with a mortgage from Principality. His conveyancer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The document 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 Principality 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 Principality conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Completed the sale of my flat in Walkden last August yet the purchaser is SMS messaging every few hours to say his lawyer is waiting to hear from mine. What are the post completion sale legalities following completion?
Post completion of your sale your solicitor should forward the transfer documentation and all supplemental paperwork to the buyer’s solicitors. If applicable, your solicitor should also send confirmation that the home loan has been repaid to the buyers lawyers. There are no post completion tasks specific conveyancing in Walkden.
five months have elapsed following my purchase conveyancing in Walkden completed. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £215,000. 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 issue on a property I put an offer in two weeks back in what should have been a quick, chain free conveyancing. Walkden is where the house is located. What do you suggest?
Flying freeholds in Walkden are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Walkden you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Walkden 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 property.
My father has encouraged me to appoint his conveyancing solicitors in Walkden. Should I find my own property lawyer?
No doubt the ideal way to find a conveyancing practitioner is to seek feedback from friends or relatives who have previously instructed the firm that you are considering.
Back In 2008, I bought a leasehold flat in Walkden. Conveyancing and Nationwide Building Society mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1998. The conveyancing solicitor in Walkden who previously acted has long since retired. What should I do?
The first thing you should do is make enquiries of HMLR to be sure that this person is indeed the new freeholder. You do not need to incur the fees of a Walkden conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Walkden Conveyancing for Leasehold Flats - Examples of Questions you should ask Prior to buying
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It would be prudent to enquire if there are any onerous prohibitions in the lease. By way of example some leases prohibit pets being allowed in in a block in Walkden. If you like the propertyin Walkden but your cat can’t live with you then you will be faced difficult compromise. Please note if it is less than 80 years it will have adverse implications on the marketability of the property. It is worth checking with your lender that they are happy with the length of the lease. Leases with less than 80 years remaining means that you will probably require a lease extension sooner rather than later and it is worth finding out how much this will be. For most Walkdenlease extensions you would need to own the property for two years in order to be eligible to extend the lease. Generally speaking the outlay for major works tend not to be incorporated into the maintenance charges, although a few managing agents in Walkden require tenants to pay into a reserve fund and this is used to offset against larger repairs or maintenance.