My grandson is purchasing a newly built flat in Wanstead with a home loan from RBS. His lawyer has said that there is 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 involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the RBS conveyancing panel as a standard part of the process, and to the surveyor 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 RBS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
My wife and I buying a terrace house in Wanstead. The intention is to carry out a loft conversion at the property.Will the conveyancing process involve enquiries to determine if these works are permitted?
Your conveyancer will check the deeds as conveyancing in Wanstead will on occasion identify restrictions in the title documents which prevent certain changes or need the permission of a 3rd party. Certain extensions need local authority planning consent and approval in accordance building regulations. Many areas are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. You should check these things with a surveyor ahead of any purchase.
Is it the case that all Wanstead solicitor firms on the Nationwide conveyancing panel are regulated by the SRA?
As solicitors, in order to be on the Nationwide approved list of solicitors they would need to be governed by the SRA. Some banks do allow licenced conveyancers on their panel and in such a situation the organisation would be governed by the Council of Licensed Conveyancers.
We previously instructed solicitors with offices in Wanstead on the Nottingham solicitor approved list. They have just invoiced me an additional amount for handling the Nottingham mortgage. Is this an additional conveyancing fee set by Nottingham?
Provided it is contained in their Terms of Engagement or estimate then yes your property lawyer can levy a fee for this. This fee is not dictated by Nottingham but by your Wanstead solicitor. Plenty of firms on the Nottingham panel will charge ’dealing with mortgage’ fee but many practices include it on their overall fee.
Will our conveyancer be asking questions concerning flooding as part of the conveyancing in Wanstead.
Flooding is a growing risk for conveyancers specialising in conveyancing in Wanstead. Some people will acquire a house in Wanstead, completely aware that at some time, it may suffer from flooding. However, leaving to one side the physical damage, where a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or sell the premises. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Solicitors are not best placed to impart advice on flood risk, but there are a various checks that can be initiated by the buyer or by their lawyers which will give them a better appreciation of the risks in Wanstead. The standard information sent to a purchaser’s solicitor (where the Conveyancing Protocol is adopted) incorporates a standard question of the owner to discover whether the premises has suffered from flooding. If the residence has been flooded in past which is not revealed by the owner, then a buyer may bring a legal claim for losses as a result of such an incorrect response. A buyer’s lawyers should also order an enviro report. This will reveal if there is a recorded flood risk. If so, more detailed inquiries will need to be made.
I have todaybecome aware that Stirling Law have closed. They conducted my conveyancing in Wanstead for a purchase of a leasehold apartment 9 months ago. How can I establish that my home is registered correctly in the name of the former proprietor?
The easiest method to check if the premises is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Wanstead conveyancing specialists.
About to purchase a new build flat in Wanstead. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here are examples of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Wanstead
Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.