Our god-son is about to exchange on a house that has just been built in Hale Barns with a home loan from Aldermore. His conveyancer has said that there is a delay in completing 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 engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Aldermore 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 Aldermore conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Can you explain why leasehold purchase conveyancing in Hale Barns is more expensive?
The conveyancing charges on a leasehold property in Hale Barns is inevitably greater when contrasted to a freehold property. This is because there is an amount of additional work required in communicating with the freeholder and managing agents to collate the evidence about whether the rent and service charges have been paid and whether there are any significant expenditure in the near future on repairs or maintenance of the block.
How does conveyancing in Hale Barns differ for newly converted properties?
Most buyers of new build or newly converted property in Hale Barns contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the house is finished. This is because house builders in Hale Barns typically acquire the site, 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 Hale Barns or who has acted in the same development.
I have been sourcing a conveyancing lawyer in Hale Barns for my house move. Can I check a solicitor's record with the legal regulator?
Anyone can see published Solicitor Regulator Association (SRA) decisions resulting from inquisitions commenced on or after 1 January 2008. Visit Check a solicitor's record. For records Pre 2008, or to check a solicitors record, call 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, call +44 (0)121 329 6800. The regulator may recorded call for training reasons.
I have just started marketing my ground floor flat in Hale Barns. Conveyancing lawyers have not yet been instructed, but I have just received a yearly maintenance charge demand – should I leave it to the buyer to sort out?
It best that you pay the maintenance contribution as normal given that all rents and service invoices will be allotted on completion, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the next payment date. Most management companies 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. This will smooth the conveyancing process.
Hale Barns Leasehold Conveyancing - A selection of Queries Prior to Purchasing
How is the lease structured? Does the lease include onerous restrictions? How long is the Lease?