Our nephew is about to exchange on a new build apartment in Newmarket with a home loan from Kent Reliance. His solicitor has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The document 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 Kent Reliance 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 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.
I have 71 years unexpired on my lease and require a lease extension for my flat in Newmarket. Conveyancing solicitors on the Accord Mortgages panel can deal with such extensions correct?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are securing a mortgage then your lender may insist that the lease be extended before competition. Accord Mortgages have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 20/11/2024 the requirements read as follows :
I just bought a house at auction in Newmarket. Conveyancing is required. What are my next steps?
Having legally committed yourself to purchase you must find a conveyancing solicitor soon as you will have a fast approaching a drop dead date to complete the deal. Every auction property will ordinarily have a corresponding auction set of papers. This will include the copy title deeds, local authority and drainage searches. In the case of leasehold premises the auction pack should include a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork specific to a leasehold property. You must give this to the conveyancer working for you at the earliest opportunity. You also need to ensure that that you have the requisite funding organised to complete on the on the contractual date .
I currently have a mortgage with Aldermore for my property in Newmarket. Conveyancing was finalised some time ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Aldermore?
Your original mortgage agreement with Aldermore will provide that you need their approval prior to letting out your property as this is likely to be a breach of Aldermore’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 Aldermore directly. You need not do this via a Aldermore conveyancing panel solicitor.
Completion of my purchase has taken place for my property in Newmarket. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
Most lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Team at head office. We understand that complaints to a lender are resolved very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
The deeds to my house can not be found. The lawyers who did the conveyancing in Newmarket 5 years ago are no longer around. Will I be able to sell the house?
You no longer need to have the physical official documentation to prove you are the registered proprietor of land or premises, given that the Land Registry hold details of all registered land or property electronically.
We're novice buyers - agreed a price, yet the estate agent advised that the seller will only move forward if we use the agent's preferred conveyancers as they are insisting on an ‘expedited deal’. My instinct tells me that we should use a family conveyancer who is accustomed to conveyancing in Newmarket
We suspect that the seller is unaware of this request. Should the seller desire ‘a quick sale', alienating a motivated purchaser is counter productive. Contact the vendors directly and make the point that (a)you are motivated purchasers (b)you are excited to move forward, with mortgage lined up © you have nothing to sell (d) you wish to move quickly (e)however you intend to use your own,trusted Newmarket conveyancing lawyers - not the ones that will provide their estate agent a commission or achieve conveyancing targets pre-set by head office.