Our nephew is purchasing a newly built flat in Patcham with a mortgage from Lloyds. His solicitor 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 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 Lloyds conveyancing panel as a standard part of the process, and to the surveyor 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 Lloyds 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 due to move home in January. Will my conveyancing solicitor liaise with the removal company on the day of completion. On a separate note, can you suggest a removal company in Patcham. Conveyancing lawyer was organised before I stumbled across your page.
On the day of completion you can pick up the keys from your estate agent however this can only take place when the previous owners lawyers confirm to the agent that they acknowledge receipt of the completion payment and the keys can be released. Subsequently you should inform the removal company that they can start moving you in. We do not suggest a specific removal organisation but can assist you in finding a conveyancing in Patcham or a lawyer with expertise in conveyancing in Patcham.
We had instructed conveyancing lawyers locally in Patcham on the Yorkshire BS solicitor approved list. They have just billed me a separate sum for the legal aspects of the Yorkshire BS mortgage. Is this an additional conveyancing fee set by Yorkshire BS?
Provided it is contained in their Terms and Conditions or estimate then yes your solicitor is entitled to charge a fee for this. This charge is not dictated by Yorkshire BS but by your Patcham solicitor. Some firms on the Yorkshire BS panel will levy an ‘acting for lender’ fee but plenty of practices include it on their overall fee.
Intending to buy a apartment in Patcham. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Kent Reliance conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Patcham lawyer is on the Kent Reliance conveyancing panel.
Are there restrictive covenants that are commonly identified during conveyancing in Patcham?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Patcham. 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…’
How does conveyancing in Patcham differ for new build properties?
Most buyers of new build premises in Patcham approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is constructed. This is because new home sellers in Patcham tend to purchase the land, 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 conveyancers 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 Patcham or who has acted in the same development.
I have just appointed agents to market my 2 bed apartment in Patcham.Conveyancing is yet to be initiated however I have just had a quarterly maintenance charge demand – should I leave it to the buyer to sort out?
The sensible thing to do is pay the invoice as you normally would because all ground rent and maintenance invoices should be apportionedon completion, so you will be reimbursed by the purchaser for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially