My nephew is in the process of securing a new build apartment in Haywards Heath with a mortgage from Leeds Building Society. 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 purchase. Therefore, it will be provided to your son’s lawyer who should be on the Leeds Building Society 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 Leeds Building Society conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
In what way does my ID and proof of funds have anything to do with my conveyancing in Haywards Heath? What am I being asked for?
Anti-terror and anti-money-laundering laws require solicitors and licensed conveyancers to check the identification documents of the person or body they are dealing with before they can accept their conveyancing business. The Terms and Conditions that you need to sign should reaffirm this. Your lawyer also has obligations to obtain certain documents in accordance with the CML Lenders Handbook requirements last updated on 1st December 2014. Where you are unwilling to provide ID verification documents, your solicitor would not be able to accept instructions from you.
Is it correct that all Haywards Heath CQS (Conveyancing Quality Scheme) solicitors are on the Kent Reliance conveyancing panel?
Some major banks and building societies now utilise the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. CQS accreditation however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for solicitors wishing to join their panels.
Can I be sure that the Haywards Heath conveyancing solicitor on the UBS panel is any good?
When it comes to conveyancing in Haywards Heath obtaining recommendations is a good starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always recommend that you speak with the solicitor conducting your transaction.
I have decided to exercise my right to buy my property in Haywards Heath off the council. I have a mortgage offer with Leeds Building Society. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Leeds Building Society, you will need to appoint a solicitor on the Leeds Building Society conveyancing panel.
Over the last few months I have been searching for a ground for flat up to £305k and identified one round the corner in Haywards Heath I like with a park and station nearby, however it's only got 61 years on the lease. There is not much else in Haywards Heath for this price, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you need a mortgage that many years may be problematic. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of 2 years you can request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should consult your conveyancing lawyer about this matter.
I own a leasehold house in Haywards Heath. Conveyancing and TSB mortgage went though with no issue. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1998. The conveyancing practitioner in Haywards Heath who acted for me is not around. Any advice?
The first thing you should do is make enquiries of the Land Registry to be sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a Haywards Heath conveyancing lawyer to do this as you can do this on the Land Registry website for £3. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I purchased a ground floor flat in Haywards Heath, conveyancing having been completed in 2003. Can you work out an approximate cost of a lease extension? Corresponding properties in Haywards Heath with over 90 years remaining are worth £179,000. The ground rent is £65 yearly. The lease ceases on 21st October 2082
With only 57 years remaining on your lease we estimate the price of your lease extension to be between £26,600 and £30,800 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more detailed investigations. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.