My son is buying a new build apartment in Cheddleton with a mortgage from Bank of Ireland. His solicitor has advised him of a delay in receiving 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 Bank of Ireland 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 Bank of Ireland 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 been told that property searches are the main cause of delay in Cheddleton house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the findings of a review by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of delays in the conveyancing process. Searches are unlikely to be the root cause of slowing down conveyancing in Cheddleton.
Are there restrictive covenants that are commonly picked up during conveyancing in Cheddleton?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Cheddleton. 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…’
I decided to have a survey done on a house in Cheddleton before appointing conveyancers. I have been advised that there is a flying freehold aspect to the house. My surveyor has said that some banks may not issue a loan on this type of home.
It varies from the lender to lender. HSBC has different requirements from Halifax. Should you wish to telephone us we can check via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Cheddleton. Conveyancing may be slightly more expensive based on your lender's requirements.
How can the Landlord & Tenant Act 1954 affect my commercial offices in Cheddleton and how can you help?
The particular law that you refer to provides protection to commercial tenants, giving them the right to make a request to court for a continuation of occupancy at the end of the lease term. There are certain specified grounds that a landlord can refrain from granting a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing practices who use the act to your advantage and assist with commercial conveyancing in Cheddleton