My son-in-law is buying a house that has just been built in High Peak with a mortgage from Leeds Building Society. His lawyer 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 document 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 Leeds Building Society 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 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.
My husband and I have organised the release of further monies on our mortgage from Co-operative as we intend to carry out renovations to our house in High Peak. Do we need to choose a local High Peak solicitor on the Co-operative conveyancing panel to handle the paperwork?
Co-operative don't usually instruct a member of their conveyancing panel to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Co-operative list.
I am currently in the process of buying my council flat in High Peak. I have a mortgage offer with Santander. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have 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 Santander, you will need to appoint a solicitor on the Santander conveyancing panel.
I currently have a mortgage with Principality for my property in High Peak. Conveyancing was finalised 12 months ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Principality?
Principality must be informed of your intention prior to letting out your property as this is likely to be a breach of Principality’s mortgage conditions. It may be that Principality will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Principality directly. It should not be necessary to do this via a Principality conveyancing panel solicitor.
I need some quick conveyancing in High Peak as I am faced with pressure to exchange contracts inside 4 weeks. A home loan is not required. Can I escape the need for conveyancing searches to save fees and time?
As you are not obtaining a mortgage you have the choice not to have searches carried out although no solicitor would recommend that you don't. With plenty of history conveyancing in High Peak the following are examples of issues that can arise and therefore impact the marketability of the property: Refused Planning Applications, Overdue Fees, Overdue Grants, Road Schemes,...
I have been on the look out for a leasehold apartment up to £305k and found one close by in High Peak I like with open areas and railway links nearby, the downside is that it's only got 52 remaining years left on the lease. I can't really find anything else in High Peak suitable, so just wondered if I would be making a mistake purchasing a short lease?
If you require a mortgage that many years will likely be an issue. Reduce the price by the amount the 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 commence the lease extension formalities and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this.
What can I do where I am unhappy with the conveyancer who carried out my conveyancing in High Peak?
We live in an imperfect world, and unfortunately occasionally things do go wrong. Nevertheless there is recourse where you were dissatisfied with your conveyancing in High Peak. This varies from trying to resolve matters directly with them, through to reporting a lawyer to their regulator. If you remain dissatisfied you may consider enlisting the help of the Legal Ombudsman.