Our son is purchasing a newly built flat in Llanishen with a home loan from Bank of Ireland. His conveyancer 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 Bank of Ireland 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 Bank of Ireland conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
My apartment in Llanishen is up for sale and I have a purchaser. Will my lawyer need to be on the UBS conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the UBS conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently in recent years.
My wife and I are buying a property in Llanishen. It might be a silly question but how we can trust a lawyer? On completion day we have to deposit money into their account. What is the protection we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
When it comes to mortgage companies such as Aldermore, do Llanishen property lawyers face a fee to be on the list of approved solicitors?
We are unaware of any mortgage company fees to be on their list of approved firms, although some do levy an administration fee to deal with the processing of the conveyancing panel application.
Can you point me to a directory of Coventry BS panel solicitors in Llanishen on the Council of Mortgage Lender’s Website?
No. There is no such facility on the Council of Mortgage Lenders or Building Society Association sites. A small selection of lending institutions make their panel listings visible over the internet. If you are seeking to appoint a Llanishen property lawyer on the Coventry BS please make the most of our tool.
Do I need to be suspicious that 3rd parties that I am dealing with are suggesting a factory type conveyancing firm rather than a High Street Llanishen conveyancing practice?
As with lots of service providers, often recommendations from family and friends can be worth their weight in gold. Nevertheless there are lots of players in a conveyancing deal; estate agents, financial adviser and mortgage companies might all recommend solicitors to appoint. On occasion these solicitors might be known to one of the organisations as one of the best in their field, but occasionally there is an underlying commercial relationship behind the endorsement. You are free to select your preferred conveyancer. Don't forget that the majority of banks operate an approved list of lawyers you have to use for the lender aspect of your home move.
I've found a house that appears to meet my requirements, at a reasonable price which is making it more attractive. I have just been informed that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns buying a leasehold house in Llanishen. Conveyancing lawyers have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Llanishen ?
Most houses in Llanishen are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are purchasing in Llanishen in which case you should be shopping around for a Llanishen conveyancing practitioner and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as requiring the landlord’spermission to conduct changes to the property. You may also be required to pay a service charge towards the upkeep of the communal areas where the property is located on an estate. Your lawyer will report to you on the legal implications.
I bought a ground floor flat in Llanishen, conveyancing formalities finalised 10 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent flats in Llanishen with an extended lease are worth £195,000. The average or mid-range amount of ground rent is £45 levied per year. The lease finishes on 21st October 2088
You have 63 years left to run we estimate the price of your lease extension to span between £16,200 and £18,600 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more detailed investigations. You should not use the figures in tribunal or court proceedings. There may be other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.
My folks are experiencing problems in finding their Llanishen land registry title on the site. They recall that 50 years ago when they purchased the bungalow there were complications concerning the post code not being recognised in some systems.
Nearly all premises in Llanishen should show up. Have you limited your search with simply the postcode. Usually it will disclose all the properties within the postcode. Where registered it will show up with a title number. Where they bought back in the 60’s it's conceivable it may be unrecorded. The property may still be revealed but with the title number shown 'na'. In this scenario you will need to find the original title papers which might be with your parent’s lender.