My nephew is buying a new build apartment in Cumbria with a home loan from Lloyds. 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 transaction. Therefore, it will be provided to your son’s lawyer who should be on the Lloyds conveyancing panel as a standard part of the process, and to the valuer 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 Lloyds conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
At what point will exchange of contracts happen for residential conveyancing in Cumbria and am I required to attend the conveyancers office?
Where you are in close proximity to one of the conveyancing solicitors in Cumbria you are welcome to come in to sign documents. However, the lender approved solicitors we recommend provide a nationwide conveyancing service and provide as equally detailed and professional a job for you when dealing with you by post or email. The executing of the contract is not the point of no return. Signing on the dotted line is necessary for the conveyancer to address the formalities when the time is right, which will usually be very shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where a lengthy "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Cumbria)to be in the office at the appropriate time.
We were going to get a DIP from Lloyds this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Lloyds recommend any Cumbria solicitors on the Lloyds conveyancing panel, or is it better to go independently?
You will need to appoint Cumbria solicitors independently although you'll need to choose one on the Lloyds conveyancing panel. The solicitor represents both you and Lloyds through the process.
I can not fathom if my lender requires a lease extension. I have telephoned my Cumbria bank branch on various occasions and was informed it wasn't an issue and they will lend. My Cumbria conveyancing solicitor - who is on the lender conveyancing panel- telephoned to say that they refuse to lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
As long as the property lawyer is on the lender approved list, she or he must follow the CML Handbook conditions for the lender. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
RBS have agreed my mortgage in principle, my offer on a apartment in Cumbria has been accepted, what are the next steps?
The estate agent will need to know who your solicitors are (make sure the property lawyers are on the bank’s approved list). Call up RBS or the financial adviser and complete any relevant paperwork. RBS will instruct a valuer who will get in touch with the estate agent or owners to arrange an appointment. Once conducted (assuming no problems) it takes approximately ten days to receive the mortgage offer. RBS will issue the offer to you and your solicitors. The legal work will then take it’s course according the nature and complexity of the conveyancing in Cumbria.
Due to the advice of my in-laws I had a survey completed on a house in Cumbria in advance of appointing lawyers. I have been informed that there is a flying freehold overhang to the house. The surveyor advised that some mortgage companies may not grant a mortgage on this type of property.
It varies from the lender to lender. Bank of Scotland has different instructions from Halifax. If you call us we can check via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Cumbria. Conveyancing will be smoother if you use a solicitor in Cumbria especially if they are accustomed to such properties in Cumbria.
Is there anything unique about your site and alternative internet conveyancing solicitors for conveyancing in Cumbria?
At this site get a fixed fee quote via a Solicitor or Licensed Conveyancer that appreciates the issues for your conveyancing in Cumbria. As opposed to estate agents and many comparison sites we are not in the business of charging firms a commission if you instruct them for your conveyancing in Cumbria
Been looking for a conveyancer for leasehold sale conveyancing in Cumbria. I'm selling, uncomplicated no mortgage to redeem, no rush, no onward chain. Received a quote from a property lawyer for a thousand pounds plus VAT which is a tad steep considering its so straightforward. Can I pay less for conveyancing in Cumbria?
Considering it’s a sale only, 475 + VAT is likely to be about the lowest for a Cumbria solicitor firm.