Our son is purchasing a new build apartment in North Cave with a mortgage from RBS. His solicitor has said that there is a delay in receiving 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 RBS 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 RBS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
We are purchasing a flat and require a conveyancing solicitor in North Cave who is on the Nationwide conveyancing panel. Could you point me in the right direction as regards a solicitor?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Nationwide . We don't recommend any particular firms conducting conveyancing in North Cave.
It has been 4 months since my purchase conveyancing in North Cave took place. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
What tools are available to search for a North Cave law firm on the The Royal Bank of Scotland conveyancing panel? I am a keen cyclist and am willing to travel upto 25kilometers to meet the lawyer.
Feel free to make use of the tool on this page. Please choose the mortgage company and your location and you will see a number of North Cave conveyancing lawyers locally. We have listed some North Cave conveyancing firms towards the end of this page and you can contact them to check whether they are on the The Royal Bank of Scotland panel
We're FTB’s - agreed a price, yet the selling agent informed us that the owners will only move forward if we instruct their recommended conveyancers as they need a ‘quick sale’. Our preferred option is to instruct a high street solicitor accustomed to conveyancing in North Cave
We suspect that the seller is unaware of this ultimatum. If they want ‘a quick sale', turning down a serious purchaser is counter productive. Try to communicate with the sellers directly and explain that (a)you are genuine purchasers (b)you are ready to go, with mortgage lined up © you have nothing to sell (d) you intend to proceed fast (e)however you will continue to use your preferred North Cave conveyancing lawyers - not the ones that will give their estate agent a kickback or meet his conveyancing targets set by corporate headquarters.
Can you provide any top tips for leasehold conveyancing in North Cave from the perspective of expediting the sale process?
- Much of the delay in leasehold conveyancing in North Cave can be reduced where you get in touch lawyers the minute your agents start advertising the property and request that they start to put together the leasehold documentation which will be required by the purchasers’ lawyers. A minority of North Cave leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their solicitors. The majority of landlords or managing agents in North Cave charge for supplying management packs for a leasehold home. You or your lawyers should find out the fee that they propose to charge. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in North Cave. If you have had any disputes with your freeholder or managing agents it is essential that these are resolved prior to the flat being marketed. The purchasers and their solicitors will be reluctant to purchase a property where a dispute is unresolved. You may have to bite the bullet and discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is clearly preferable to reveal the dispute as over as opposed to unresolved. You may think that you are aware of the number of years left on your lease but it would be wise to verify this by asking your solicitors. A purchaser's lawyer will be unlikely to recommend their client to where the remaining number of years is below 80 years. In the circumstances it is essential at an early stage that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.
I bought a ground floor flat in North Cave, conveyancing was carried out 9 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in North Cave with over 90 years remaining are worth £179,000. The ground rent is £65 levied per year. The lease terminates on 21st October 2082
With 57 years left to run the likely cost is going to range between £26,600 and £30,800 plus professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.