My nephew is in the process of securing a new build apartment in Northwich with a home loan from Santander. His solicitor has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The document 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 Santander conveyancing panel as a standard part of the process, and to the surveyor 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 Santander conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
My uncle passed away 10 months ago and as sole heir and executor I was left the property in Northwich. The house had a relatively small loan remaining of approximately £8000. I want to have the title changed into my name whilst I re-mortgage to Coventry BS, pay off the mortgage. Is this allowed?
Given you intend to re-mortgage then Coventry BS will require that you use a conveyancer on the Coventry BS conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Coventry BS conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Coventry BS mortgage is registered as a charge at the Land Registry.
Are all Northwich Conveyancing Quality Solicitors on the Yorkshire BS conveyancing panel?
A selection of banks and building societies now utilise CQS as the kick off point for Panel approval such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their approved list of conveyancing solicitors.
Having digested plenty of mortgage guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Northwich solicitor - who is on the Yorkshire BS conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Yorkshire BS will need an independent valuation of the property. Your lawyer will not arrange this. Usually Yorkshire BS 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. You may wish to consider appointing your own Northwich surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
My sealed bid on a semi in Northwich has been accepted, but there is a chain. The owners have offered on a flat, but it’s not yet agreed to, and have viewings of other properties booked. I have chosen a bricks and mortar conveyancing solicitor in Northwich. What should be my next step? When do I get the mortgage application with Bank of Ireland started?
It is understandable to have apprehensions where there is a chain as you are unlikely to want to incur expenses too early (home loan application is approx one thousand pounds, then survey, Northwich conveyancing search fees, etc). The first course of action is to ensure that your conveyancer is on the Bank of Ireland conveyancing panel. Regarding the next steps this very much depends on the specifics of your transaction, motivation for the property and on the state of the market. During a rising market many buyers would apply for the mortgage with Bank of Ireland and pay for the valuation and only if it was satisfactory would they request their property lawyer to move forward with searches.
What makes a Northwich lease defective?
There is nothing unique about leasehold conveyancing in Northwich. All leases are drafted differently and legal mistakes in the legal wording can sometimes mean that certain provisions are not included. The following missing provisions could result in a defective lease:
A provision to repair to or maintain parts of the property A provision for the recovery of money spent for the benefit of another party.
You could encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , The Royal Bank of Scotland, and Barclays Direct all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the purchaser to pull out.
Leasehold Conveyancing in Northwich - A selection of Questions you should ask Prior to buying
How much is the ground rent and service charge? Best to be warned if window replacement or some other significant cost is anticipated that will be shared by the leaseholders and could well materially impact the level of the service costs or require a one time payment. On the whole the cost for major works tend not to be included within maintenance charges, albeit that some managing agents in Northwich obliged tenants to contribute towards a sinking fund and this is used to offset against larger works.
What can I do where I am not happy with the solicitor who undertook my conveyancing in Northwich?
We live in an imperfect world, and unfortunately occasionally things do go wrong. However there is recourse where you were unhappy with your conveyancing in Northwich. This varies from trying to resolve matters directly with them, through to reporting a property lawyer to their regulator. If things still aren’t resolved you may consider getting in touch with the Legal Ombudsman.