Our god-son is in the process of securing a new build apartment in Dawlish with a mortgage from Kent Reliance. His conveyancer 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 involved in the transaction. 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.
We note that you have a post code search directory listing law firms on the Santander conveyancing panel. Do firms pay you a commission if I retain them for our own conveyancing in Dawlish?
We are a listing service only for law firms wishing to communicate if they are on the Santander conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Dawlish.
It has been five months since my purchase conveyancing in Dawlish completed. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Due to the input of my in-laws I had a survey completed on a house in Dawlish prior to appointing lawyers. I have been told that there is a flying freehold element to the house. The surveyor advised that some lenders may refuse to grant a mortgage on this type of home.
It depends who your proposed lender is. Santander has different instructions for example to Birmingham Midshires. Should you wish to call us we can check via 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 Dawlish. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Dawlish to see if the conveyancing costs will increase in light of this.
I own a leasehold house in Dawlish. Conveyancing and Lloyds TSB Bank mortgage are in place. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1998. The conveyancing practitioner in Dawlish who acted for me is not around. Do I pay?
The first thing you should do is contact the Land Registry to make sure that this person is in fact the new freeholder. There is no need to incur the fees of a Dawlish conveyancing lawyer to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Leasehold Conveyancing in Dawlish - A selection of Questions you should ask Prior to buying
Are there any major works in the near future that will likely add a premium to the maintenance fees? If a Dawlish lease has less than 80 years it will have adverse implications on the marketability of the flat. It is worth checking with your lender that they are willing to to proceed given the lease term. Leases with fewer than 80 years remaining means that you will probably have to extend the lease at some point and you need to have some idea of how much this would cost. For most Dawlishlease extensions you would need to own the residence for 24 months in order to be eligible to carry out a lease extension. The prefered form of lease structure is a share of the freehold. In this arrangement the lessees have being in charge if their destiny and notwithstanding that a managing agent is usually retained if the building is bigger than a house conversion, the managing agent is directed by the tenants.