My son-in-law is buying a newly built flat in Kenton with a home loan from Kent Reliance. His solicitor 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 Kent Reliance 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 Kent Reliance conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Will our solicitor be making enquiries concerning flooding during the conveyancing in Kenton.
Flooding is a growing risk for conveyancers dealing with homes in Kenton. There are those who acquire a property in Kenton, fully aware that at some time, it may suffer from flooding. However, leaving to one side the physical damage, where a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or sell the premises. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Conveyancers are not best placed to give advice on flood risk, but there are a numerous searches that may be undertaken by the buyer or on a buyer’s behalf which should figure out the risks in Kenton. The conventional set of information sent to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) includes a usual question of the vendor to find out whether the premises has suffered from flooding. In the event that the property has been flooded in past which is not disclosed by the vendor, then a purchaser could bring a legal claim for losses as a result of such an inaccurate answer. A purchaser’s conveyancers should also commission an enviro report. This will higlight whether there is any known flood risk. If so, additional investigations should be made.
Despite weeks of looking the Title Certificate and documents to my house are lost. The conveyancers who conducted the conveyancing in Kenton 5 years ago have long since closed. What do I do?
Gone are the days when you need to have the physical original deeds to prove you are the owner of your registered land or property, given that the Land Registry hold details of all registered land or property electronically.
How does conveyancing in Kenton differ for newly converted properties?
Most buyers of new build residence in Kenton approach us having been asked by the builder to sign contracts and commit to the purchase even before the house is completed. This is because house builders in Kenton typically acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Kenton or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a property I have offered on two weeks back in what was supposed to be a straight forward, no chain conveyancing. Kenton is the location of the property. What do you suggest?
Flying freeholds in Kenton are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Kenton 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 Kenton may ascertain 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 residence.