Moving House

Our Legal Process

Moving home and remortgaging can be a stressful time so we want to keep our process simple.

Please find below some useful information if you are buying, selling or remortgaging a property on a Terrena development.

Selling a Property

When selling a property, the seller is responsible for providing a sales pack to the purchaser’s solicitor in return for a fee payable by the seller. Sales packs are a collection of documents that contain vital information that may affect a buyer’s decision to proceed with their transaction. It is produced and distributed to the purchaser’s solicitor so that they can make the purchaser aware of important factors such as estimated future service charges, planned works, etc. Once a sale has been agreed, we initially require a Property Transfer Form to be completed and sent to us as soon as possible so that we can prepare a sales pack. This is typically done by the seller’s solicitor. Please email gemma@terrena.co.uk for this form.

A sales pack usually includes the following information upon receipt of the relevant fee:

● Site accounts

● Proof of payment of service charge, usually in the form of a statement which will show any arrears. Once we have been notified of a completion date, we will calculate all charges up to   date

● Insurance certificate for managed areas

● Completed FME1 including bank details of where payments can be made

● Budget Statement of what we expect the next years’ service charge to be

● Historical statement of account for service charges

● Billing budget summary highlighting the services we provide on your site

● Draft Deed of Covenant once we have received the relevant details of the new purchasers

We aim to produce this pack two weeks from instruction.

Purchasing a Property

During the course of the conveyancing process your solicitor will find a restriction on the title that will prevent you being registered as the new property owner unless the land registry is provided with a certificate of compliance. A certificate of compliance is a document which confirms that you and your solicitor have complied with the various obligations and actions listed in the Deed of Covenant. We require the following information from a buyer’s solicitor  in order to provide you with this:

● Notice of Transfer (and charge if relevant)

● An engagement fee will be required from the purchaser, this will be payable to the sellers via their solicitor. We then require  confirmation that the fee has been paid

● Registers of title. These are required to ensure your compliance certificate relates to the correct information on the restriction

● Seller’s Signed Transfer which will provide details of who the current owners are and provide details of the new owners

● Contact form to confirm full details of the new owners

● Original copy of the TP1 so we know which plot we are dealing with

● Signed Deed of Covenant following receipt of funds

● Signed plans of managed areas by the new purchasers

Refinancing a Property

If you’re remortgaging with a new lender, it will require remortgaging conveyancing. A solicitor will carry out checks on behalf of your new lender and make sure that the new mortgage is registered against your property at the Land Registry. A certificate of compliance is also required for this. In order to produce a certificate, in this instance we require the following from the owner’s solicitor:

● Notice of Charge

● Registers of title

● Confirmation of relevant fee paid

● Original copy TP1 to show what the requirements are for the compliance certificate

For further questions, please email us, contact us via the portal or via the website contact form.

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