My son-in-law is purchasing a new build apartment in Harold Wood with a home loan from Aldermore. His conveyancer has advised him of 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 Aldermore conveyancing panel as a standard part of the process, and to the surveyor 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 Aldermore conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
At what point will exchange of contracts take place for sale conveyancing in Harold Wood and do I need to be at the lawyers branch?
If you are near to our conveyancing solicitors in Harold Wood you are invited in to sign documents. However, the lender approved solicitors we work with offer a countrywide conveyancing service and give just as comprehensive and professional a job for you when dealing with you by post or email. The signing of the purchase agreement is not the important part. A signed contract is necessary for the solicitor to address the formalities when the time is right, which is ordinarily shortly after signing. The procedure is is usually a five minute process, although where a long "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Harold Wood)to be in the office at the appropriate time.
We are purchasing a 4 bedroom semi-detached house in Harold Wood. Our aim is to convert the garage to a playroom at the property.Will legal due diligence on the property involve checks to ascertain if these alterations are permitted?
Your solicitor should check the registered title as conveyancing in Harold Wood can sometimes identify restrictions in the title documents which prevent categories of changes or require the consent of a 3rd party. Many extensions require local authority planning consent and approval in accordance building regulations. Some locations are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. You should check these things with a surveyor prior to committing yourself to a purchase.
We previously chose solicitors with offices in Harold Wood on the TSB solicitor panel. They are now charging me a separate sum for dealing with the TSB mortgage. Is this a supplemental conveyancing fee set by TSB?
Provided it is contained in their Terms and Conditions or estimate then yes your solicitor is entitled to levy a fee for this. The charge is not dictated by TSB but by your Harold Wood property lawyer. Numerous firms on the TSB panel will quote an ‘acting for lender’ fee but many firms include it on their overall fee.
It is unclear whether my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Harold Wood bank branch on numerous occasions and was told it wasn't a problem and they would lend. My Harold Wood conveyancing solicitor - who is on the lender conveyancing panel- called to say that they refuse to lend based on their published requirements. I simply don't know who is right.
The conveyancer has to follow the Council of Mortgage Lenders’ Handbook Part 2 provisions for your bank. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
Are there restrictive covenants that are commonly identified as part of conveyancing in Harold Wood?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Harold Wood. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Is it best to go with a Harold Wood conveyancing lawyer in close proximity to the house I am purchasing? An old friend can conduct the conveyancing but her office is a couple of hundredmiles away.
The benefit of a local Harold Wood conveyancing practice is that you can drop in to execute documents, present your ID and apply pressure on them where appropriate. Having local Harold Wood know how is a bonus. However nothing is more important than finding someone that will do a good and efficient job. If if people you trust instructed your friend and on the whole were impressed that should surpass using an unknown Harold Wood conveyancing lawyer just because they are round the corner.