My son is purchasing a new build apartment in Leegomery with a home loan from Santander. His solicitor has advised him of a delay in receiving 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 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.
four months have gone by following my purchase conveyancing in Leegomery completed. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £160,000. 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.
How does conveyancing in Leegomery differ for newly converted properties?
Most buyers of new build or newly converted property in Leegomery contact us having been asked by the developer to sign contracts and commit to the purchase even before the premises is constructed. This is because developers in Leegomery usually buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Leegomery or who has acted in the same development.
Is it best to choose a Leegomery conveyancing practitioner based in the location that I am purchasing? We have a good friend who can handle the conveyancing but they are based 300miles drive away.
The benefit of a high street Leegomery conveyancing practice is that you can attend the office to execute paperwork, present your identification documents and apply pressure on them where appropriate. Having local Leegomery know how is a bonus. However it's more important to get someone that will do a good and efficient job. If other friends have instructed your friend and the majority were content that should outweigh using an unknown Leegomery conveyancing solicitor solely due to them being round the corner.
As a leasehold owner I am liable for a service charge for my first floor flat in Leegomery. As a result of personal circumstances I fell behind with remittance. I negotiated a payment schedule but there is still around £3000 remaining to be paid.
I want to sell and I am nervous that this can hold me back if I have to pay off the amount due now. Do I have to settle before - is this viable?
Your conveyancing practitioner should be able to negotiate with the management company, and agree with them whether or not they would accept settlement from completion monies. This is indicative of why it is sensible to choose a conveyancer in Leegomery as they are likely to have an established relationship with the parties.