Our grandson is buying a newly built flat in Frognal with a home loan from Santander. His conveyancer has advised him of a delay in completing the ‘Disclosure of Incentive Form’. Who needs to receive the form?
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 Santander 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 Santander conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Can you point me to a directory of Santander panel solicitors in Frognal on the Council of Mortgage Lender’s Website?
No. There is no such tool on the CML or Building Society Association sites. Very few banks make their panel listings open the public over the internet. Where you are seeking to appoint a Frognal property lawyer on the Santander please make the most of our facility.
My partner and I have arranged the release of further monies on our home loan from Nationwide as we intend to conduct improvements to our house in Frognal. Are we obliged to choose a high street Frognal solicitor on the Nationwide conveyancing panel to handle the legals?
Nationwide don't usually appoint a member of their approved list of lawyers to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Nationwide panel.
At last I have had an offer on an apartment in Frognal agreed to, the sellers do nevertheless have a tied purchase. The sellers have placed an offer on a flat, however it’s not yet tied up, and are looking at other properties in the pipeline. I have instructed a nearby conveyancing solicitor in Frognal. What should be my next step? At what stage do I apply for the mortgage with Skipton?
It is normal to have anxieties where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is in the region of one thousand pounds, then valuation, Frognal conveyancing search charges, etc). The first thing to do is check that your lawyer is on the Skipton approved list. As to the next steps this very much dictated by the specifics of your transaction, attraction to the property and on the state of the market. During a buoyant market many buyers will apply for the mortgage with Skipton and arrange for the valuation and only if it was satisfactory would they pay their conveyancer to press on with searches.
What can a local search reveal regarding the house we're purchasing in Frognal?
Frognal conveyancing often starts with the submitting local authority searches directly from your local Authority or via a personal search organisations such as Searches UK The local search is essential in every Frognal conveyancing purchase; that is if you don’t want any unpleasant once you have moved into your new home. The search should supply information on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject headings.
About to purchase a new build flat in Frognal. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here are examples of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Frognal
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If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. There must be mutual enforceability of lessee’s covenants. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please confirm the Lease plans are surveyor prepared. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.
I decided to have a survey carried out on a property in Frognal ahead of retaining conveyancers. I have been told that there is a flying freehold element to the house. Our surveyor advised that some banks will refuse to grant a loan on a flying freehold premises.
It varies from the lender to lender. Lloyds has different instructions for example to Nationwide. If you contact us we can investigate further via the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Frognal. Conveyancing may be slightly more expensive based on your lender's requirements.
I was pointed in your direction by three or four local estate agents in Frognal to get a quote from a solicitor on your site. Is there a financial advantage for Estate Agents to promote your site over alternative conveyancing organisations?
We refuse to give any financial incentive for sending work our way. We thought it would be too underhand to pay a commission as a client could think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.