Am I correct in assuming that the fact that my conveyancer in South Cave is not identified on my lender's conveyancing panel that there is a problem with the standard of the firm’s work?
It would be unwise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. Just recently a report by the solicitors regulator revealed 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) low volume of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should contact the South Cave conveyancing practice and enquire why they are no longer on the approved list for your mortgage company.
Our son-in-law is about to exchange on a house that has just been built in South Cave with a mortgage from Principality. His solicitor has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. Who needs to receive the form?
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 Principality 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 Principality conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I am purchasing my first flat in South Cave with a loan from National Westminster Bank. The developers would not reduce the price so I negotiated 6k of extras instead. The property agent advised me not inform my conveyancer about the extras as it may impact my loan with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Back In 2009, I bought a leasehold house in South Cave. Conveyancing and Clydesdale mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1991. The conveyancing solicitor in South Cave who previously acted has now retired. What should I do?
The first thing you should do is make enquiries of HMLR to make sure that this person is in fact the registered owner of the freehold reversion. You do not need to instruct a South Cave conveyancing firm to do this as it can be done on-line for less than a fiver. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Leasehold Conveyancing in South Cave - Sample of Questions you should consider Prior to buying
Be sure to investigate if there are any onerous prohibitions in the lease. By way of example plenty of leases prohibit pets being allowed in in a block in South Cave. If you love the apartmentin South Cave but your dog is not allowed to make the move with you then you have a very hard decision. It is important to be aware whether window replacement or some other significant cost is due in the foreseeable future to be shared by the leasehold owners and may well materially increase the the maintenance fees or require a one off payment. Does the lease contain onerous restrictions?
How do I discover who is the owner of a house in South Cave?
Provided the premises is recorded at HMLR, and you have requisite details of the address of the property, you will be able to view results from the HMLR of the recorded proprietor for a for less than a fiver.