Our god-son is buying a new build apartment in Cwmbran with a home loan from Virgin Money. His solicitor has said that there is a delay in completing the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The document is intended to provide information to the main parties involved in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Virgin Money 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 Virgin Money conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I note that there are debates on Chancel Insurance on online forums. Am I compelled to have this when buying a property in Cwmbran? or Apparently there is a law dating back centuries that could mean that homeowners residing in a parish church boundary may be liable to pay for maintenance to the chancel within the church. Is this applicable for conveyancing in Cwmbran?
Unless a prior acquisition of the property took place post 12 October 2013 you can assume that lawyers carrying out conveyancing in Cwmbran to remain recommending a chancel search and or insurance against a claim.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Cwmbran. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below is a sample of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Cwmbran
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Please confirm the Lease plans are architect prepared. There must be mutual enforceability of lessee’s covenants. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
I have been recommended by three or four local estate agents in Cwmbran to select a conveyancer on your site. Is there a financial upside for Estate Agents to promote your site over another?
We refuse to make any financial incentive for pointing buyers and sellers in our direction. We thought it would be too underhand a fee because a client could think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
I need to appoint a conveyancing solicitor for sale conveyancing in Cwmbran. I have stumble upon a site which appears to be the perfect offering If it is possible to get all formalities completed via phone that would be ideal. Do I need to be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Our lender agreed in principle to grant us a mortgage. We instructed a reputable conveyancer in Cwmbran two days ago. A couple of hours ago, our mortgage adviser phoned to advise us that the mortgage company said that we cannot use our solicitor as they aren't on their panel. As FTB's, we had no idea that the bank had a say Is this legal?
You are at liberty to instruct any conveyancing solicitor you wish to use including the said conveyancer in Cwmbran but if your mortgage company aren't happy with them you will have to incur additional cost so the mortgage company can appoint their own solicitors as well to protect their interest. On occasion it is conceivable that your preferred conveyancing firm to get included on to the mortgage company list of approved firms. Do make the most of internet search facilities such as lenderpanel.com to find a conveyancing solcitor in Cwmbran on the lender panel. You can go into your local mortgage company branch in Cwmbran. They will know some good conveyancing solicitors in Cwmbran on the approved list.