My son is purchasing a new build apartment in Chelmsley Wood with a home loan from Coventry BS. 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 document 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 Coventry BS 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 Coventry BS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
When will exchange of contracts occur in domestic conveyancing in Chelmsley Wood and am I required to attend the solicitors office?
If you are in close proximity to our conveyancing solicitors in Chelmsley Wood you are invited in to sign the paperwork. However, the firms we work with offer countrywide coverage for conveyancing and provide just as detailed and professional a job for you when communicating with you by post or email. The signing of the contract is not the important part. Signing on the dotted line simply enables the solicitor to exchange contracts at the appropriate time, which will usually be very shortly after signing. The exchange process is is usually a five minute process, although where a long "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Chelmsley Wood)to be in the office available at the end of the phone to exchange contracts.
I have an AIP. The lender mentioned the home loan came with free conveyancing. Is the implication that I have to instruct their panel solicitor as I would much rather appoint a Chelmsley Wood based conveyancing firm?
You should check but the chances are that give you one of their panel solicitors should you want the "fee-free" deal. Call the bank and check if they allow a cash alternative. It is not unheard for a lender to give a £250 cashback as a further option in which case that money can go towards your preferred conveyancing solicitor near Chelmsley Wood.
This question may be naive but I am unexperienced as FTB of a garden flat in Chelmsley Wood. Do I pick up the keys to the premises on completion from my conveyancer? If this is the case, I will find a High Street conveyancing solicitor in Chelmsley Wood?
There is no need to visit the lawyers office on the day of completion. Your solicitors will electronically transfer the completion advance to the seller's conveyancers, and once they have received this, you should be called to pick up the keys from the Estate Agents and start moving into the property. This tends to happen between 1 and 3pm.
My aunt advised me that in buying a property in Chelmsley Wood there could be a number of restrictions affecting the ability to carry out external alterations to the property. Is this right?
There are anumerous of properties in Chelmsley Wood which have some sort of restriction or requirement of consent to perform external variations. Part of the conveyancing in Chelmsley Wood should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
How can we know in advance if a Chelmsley Wood conveyancing solicitor on the Nationwide panel is any good?
When it comes to conveyancing in Chelmsley Wood seeking recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always advocate that you speak with the solicitor handling your conveyancing.
Do I need to take out insurance to address the risk of chancel repairs when buying a residence in Chelmsley Wood?
Unless a previous purchase of the premises completed post 12 October 2013 you could take it that solicitors delivering conveyancing in Chelmsley Wood to continue to suggest a chancel search and or chancel repair liability policy.
I am in need of some leasehold conveyancing in Chelmsley Wood. Before I set the wheels in motion I want to be sure as to the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and 99.9% are in Chelmsley Wood - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I own a ground floor flat in Chelmsley Wood, conveyancing was carried out April 2009. How much will my lease extension cost? Comparable flats in Chelmsley Wood with a long lease are worth £201,000. The average or mid-range amount of ground rent is £45 yearly. The lease runs out on 21st October 2088
You have 64 years left to run we estimate the premium for your lease extension to range between £14,300 and £16,400 plus costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.