My son-in-law is purchasing a house that has just been built in Bankside with a mortgage from Skipton. His lawyer 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 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 am purchasing a detached bungalow in Bankside. The intention is to carry out a loft conversion at the house.Will legal conveyancing on the property involve enquiries to see if these alterations are prohibited?
Your conveyancer should review the registered title as conveyancing in Bankside can sometimes reveal restrictions in the title documents which prevent categories of alterations or necessitated the permission of another owner. Certain additions call for local authority planning permissions and approval in accordance building regulations. Certain areas are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. You should check these issues with a surveyor prior to committing yourself to a purchase.
The mortgage over my property is with Clydesdale for my property in Bankside. Conveyancing has been completed months ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Clydesdale?
You must advise Clydesdale before letting out your property as this is likely to be a breach of Clydesdale’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Clydesdale directly. You need not do this via a Clydesdale conveyancing panel firm.
Aldermore have agreed my mortgage in principle, my bid on a house in Bankside has been agreed to, now what?
Your property agent will wish to know who your solicitors are (be sure the property lawyers are on the bank’s panel). Telephone Aldermore or your broker and finish off any appropriate forms. Aldermore will appoint a valuer who will get in touch with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes about a week for the mortgage offer to be issued. Aldermore will send the offer to you and your conveyancing practitioners. The transaction will then take it’s course according the nature and complexity of the conveyancing in Bankside.
Have completed on a a terraced house in Bankside , What is the estimated time for the Land Registry to register my proprietorship? My Bankside conveyancing solicitor has been very slow, so I want to be sure the registration is dealt with.
As far as conveyancing in Bankside registration is no quicker or slower than anywhere else in England and Wales. Rather than based on location, timeframes can adjust depending on the party submitting the application, whether it is in order and whether the Land registry must send notices to any other parties. Currently approximately three quarters of such applications are fully dealt with within two weeks but occasionally there can be longer delays. Registration takes place after the new owner has moved in to the property therefore registration formalities is not usually primary concern yet where it is urgent that the the registration takes place urgently then you or your conveyancer can speak with the land registry and explain the circumstances.
Due to the guidance of my in-laws I had a survey completed on a house in Bankside prior to appointing conveyancers. I have been informed that there is a flying freehold element to the house. Our surveyor has said that some mortgage companies tend not give a mortgage on a flying freehold property.
It varies from the lender to lender. Lloyds has different instructions from Halifax. If you contact us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Bankside. Conveyancing will be smoother if you use a solicitor in Bankside especially if they are acquainted with such properties in Bankside.
The conveyancers conducting our conveyancing in Bankside has sent documents to review that indicate that the land is unregistered with epitome documents. Surely all property in Bankside are registered?
It is rare for premises in Bankside not to be registered. An 'epitome' is basically a dossier of photocopies of documents affecting an unregistered title. Many Bankside conveyancing lawyers should be able to handle such matters but where uncertainty reigns the standard guidance presently seems to be for the seller to register it first and subsequently deal with the transfer to the buyer - this no doubt result in a protracted transaction.