My son-in-law is purchasing a house that has just been built in Holywell with a home loan from Lloyds. His lawyer 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 engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Lloyds 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 Lloyds conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Why is leasehold purchase conveyancing in Holywell costs more?
The conveyancing fees on a leasehold premises in Holywell is frequently higher when contrasted to a freehold transaction. This is due to the extra investigations required in dealing with the landlord and managing agents to collate the evidence about whether the rent and maintenance charges have been discharged and whether there are any major works due in the foreseeable future on repairs or maintenance of the building.
We are planning to move house in February. Should my conveyancing solicitor update the removal company on the day of completion. As an aside, can you suggest a removal company in Holywell. Conveyancing firm was organised prior to coming across your site.
On the afternoon of completion you will need to pick up the keys from your estate agent but this should only be done after the sellers solicitors confirm to the agent that they acknowledge receipt of the completion payment and the keys can be released. Subsequently you will need to inform the removal men that they can start moving you in. We are not in a position to suggest a particular removal company but can help you choose a conveyancing in Holywell or a lawyer with expertise in conveyancing in Holywell.
After months of negotiation I have agreed a price on a house in Holywell. My mortgage broker recommended their conveyancers. I paid an advanced payment of £200. Not long after, the lawyer called me sheepishly admitting that they were not on the UBS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the UBS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Having read lots of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Holywell solicitor - who is on the UBS conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
UBS will need an independent valuation of the property. Your lawyer will not arrange this. Usually UBS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your property lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Holywell postcode. As you are getting a mortgage with UBS, you could contact them to see if they have a list of approved surveyors in Holywell.
I require fast conveyancing in Holywell as I am faced with an ultimatum to exchange contracts within one month. A home loan is not required. Is it possible to decline from having conveyancing searches to save money and time?
As you are not taking a home loan you have the choice not to do searches although no lawyer would recommend that you don't. With lots of history conveyancing in Holywell the following are examples of issues that can arise and therefore affect future saleability: Refused Planning Applications, Outstanding Fees, Outstanding Grants, Unadopted Roads,...
Over the last few months I have been searching for a ground for flat up to £195,000 and identified one round the corner in Holywell I like with amenity areas and transport links in the vicinity, however it only has 52 remaining years left on the lease. I can't really find anything else in Holywell in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you require a mortgage that many years may be an issue. Discount the offer by the expected lease extension will cost if not already taken into account. If the current owner has owned the property for at least 2 years you could request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer about this.