Our son-in-law is buying a new build apartment in Bude with a home loan from RBS. His lawyer has advised him of a delay in receiving 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 RBS conveyancing panel as a standard part of the process, and to the valuer 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.
Do I have to attend the offices of the solicitor to execute the legal charge? If so, I will choose one who does conveyancing in Bude so that I can pop in to their offices if necessary.
These days approved lawyers for lenders undertake all of the communications via Royal Mail, e-mail or over the phone. This means that they can undertake the conveyancing transaction regardless of where you live in England or Wales. That being said you can see if you can still book an appointment to visit conveyancing lawyer if just in case this is required.
When it comes to lenders such as Aldermore, do Bude property lawyers have to pay an annual charge to be on the list of approved solicitors?
We are not aware of any bank fees to register on their list of approved firms, although some do levy an administration fee to deal with the processing of the conveyancing panel submission.
Does a directory service exist listing Coventry BS panel conveyancers in Bude on the UK Finance Lenders’ Handbook Website?
No. There is no such facility on the CML or Building Society Association websites. Very few lenders make their panel listings visible over the internet. Where you are in need of a Bude conveyancing practitioner on the Coventry BS please use our facility.
We have agreed to purchase a house in Bude. A rare aspect is that the roof has a solar panel. RBS have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As you are obtaining a mortgage with RBS your lawyer must follow the formal requirements set out in Part two of UK Finance Lenders’ Handbook for RBS. The Council of Mortgage Lenders’ Handbook sets out minimum specifications for solar panel roof-space leases, and lawyers are required to report to RBS where a lease does not comply with these specifications. The conditions relate to the installation of panels on properties nationwide and is not isolated to Bude.
How does conveyancing in Bude differ for new build properties?
Most buyers of new build residence in Bude come to us having been asked by the builder to sign contracts and commit to the purchase even before the property is constructed. This is because house builders in Bude tend to purchase 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 property lawyers 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 Bude or who has acted in the same development.
I am looking to sell my property. My previous lawyers closed down. I would be grateful for any recommendation of a conveyancing firm. Im based in Bude if that makes a difference.
You should use our search tool to help you choose a solicitor for your conveyancing in Bude. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move goes with a minimum of fuss.
My wife and I purchased a leasehold flat in Bude. Conveyancing and Nationwide Building Society mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1996. The conveyancing practitioner in Bude who previously acted has now retired. Do I pay?
The first thing you should do is make enquiries of the Land Registry to make sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Bude conveyancing firm to do this as it can be done on-line for less than a fiver. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I invested in buying a basement flat in Bude, conveyancing was carried out 3 years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Bude with an extended lease are worth £191,000. The average or mid-range amount of ground rent is £55 invoiced annually. The lease comes to an end on 21st October 2078
With just 53 years left to run we estimate the price of your lease extension to range between £27,600 and £31,800 as well as costs.
The figure above a general guide to costs for extending a lease, but we are not able to supply the actual costs without more comprehensive due diligence. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.