My son-in-law is in the process of securing a newly built flat in Crabtree with a mortgage from Santander. His conveyancer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
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 Santander 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 Santander conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
We are selling our home in Crabtree. Will the conveyancer need to be on the HSBC conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the HSBC conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their panel criteria fairly frequently in recent years.
Will our conveyancer be asking questions concerning flooding during the conveyancing in Crabtree.
The risk of flooding is if increasing concern for conveyancers dealing with homes in Crabtree. There are those who purchase a house in Crabtree, fully aware that at some time, it may be flooded. However, leaving to one side the physical destruction, where a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or dispose of the premises. There are steps that can be taken during the course of a house purchase to forewarn the buyer.
Conveyancers are not qualified to offer advice on flood risk, however there are a various searches that can be undertaken by the purchaser or by their solicitors which should give them a better understanding of the risks in Crabtree. The conventional set of completed inquiry forms supplied to a buyer’s lawyer (where the Conveyancing Protocol is adopted) contains a standard question of the seller to discover if the property has ever been flooded. If the residence has been flooded in past and is not disclosed by the vendor, then a buyer may bring a claim for damages stemming from an inaccurate answer. The purchaser’s conveyancers should also commission an environmental report. This should indicate if there is any known flood risk. If so, further investigations should be initiated.
four months have elapsed following my purchase conveyancing in Crabtree completed. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am buying a new build flat in Crabtree. Conveyancing is necessary evil 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 few leasehold new build questions that you should expect your new-build leasehold conveyancing in Crabtree
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The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. 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. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. There must be mutual enforceability of lessee’s covenants.
As co-executor for the will of my uncle I am disposing of a residence in Neath but I am based in Crabtree. My solicitor (who is 250 miles awayrequires that I sign a stat dec ahead of completion. Could you suggest a conveyancing practitioner in Crabtree to witness this legal document for me?
Technically speaking you should not be required to have the documents witnessed by a conveyancing solicitor. Ordinarily or notary public or solicitor will suffice regardless of whether they are Crabtree based