My son is about to exchange on a house that has just been built in Alston with a home loan from Nottingham. His lawyer has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The form 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 Nottingham conveyancing panel as a standard part of the process, and to the valuer 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 Nottingham conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
My aunt passed away six months ago and as sole heir and executor I was left the property in Alston. The house had a relatively small loan remaining of approximately £4500. I want to have the title changed into my name whilst I re-mortgage to Barclays, pay off the mortgage. Is this allowed?
Given you intend to re-mortgage then Barclays will insist on your using a conveyancer on the Barclays conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Barclays conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Barclays mortgage is registered as a charge at the Land Registry.
I have a terraced Georgian property in Alston. Conveyancing solicitor represented me and Platform Home Loans Ltd. I happened to do a free search for it on the Land Registry database and I saw two entries: the first freehold, another for leasehold with the matching address. I thought I was buying a freehold how can I check?
You should read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Alston and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with purchasers. You can also enquire as to the position with the conveyancing solicitor who completed the work.
Due to the encouragement of my in-laws I had a survey completed on a property in Alston prior to retaining lawyers. I have been informed that there is a flying freehold element to the property. The surveyor advised that some banks will refuse to issue a mortgage on this type of premises.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Halifax. If you call us we can check with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Alston. Conveyancing will be smoother if you use a solicitor in Alston especially if they are acquainted with such properties in Alston.
How do I use the search tool to locate a conveyancing practitioner in Alston on the authorised to act for my lender?
1st pick a mortgage company such as Santander, Norwich and Peterborough Building Society or Clydesdale then type in your location for instance Alston. Conveyancing firms in Alston and beyond will then be identified.