Our son is buying a newly built flat in Northumberland with a home loan from UBS. His conveyancer 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 engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the UBS 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 UBS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I am considering applying for a Clydesdale mortgage for purchase of a new build (under development) in Northumberland with 60% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Clydesdale ?
In theory, you could use a solicitor that is not on the Clydesdale conveyancing panel, but Clydesdale would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
I opted to have a survey completed on a house in Northumberland before retaining conveyancers. I have been informed that there is a flying freehold element to the house. Our surveyor has said that some mortgage companies will not give a mortgage on this type of premises.
It depends who your proposed lender is. Santander has different requirements from Halifax. If you contact us we can check with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Northumberland. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Northumberland to see if the conveyancing costs will increase in light of this.
What does commercial conveyancing in Northumberland cover?
Non domestic conveyancing in Northumberland incorporates a broad array of services, given by qualified solicitors, relating to business premises. For example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of leases.
Am I better off to appoint a Northumberland conveyancing lawyer in close proximity to the house I am buying? We have a good friend who can handle the legal formalities however they are based approximately 350kilometers drive away.
The primary upside of using a high street Northumberland conveyancing firm is that you can visit the firm to sign paperwork, hand in your identification documents and apply pressure on them where appropriate. Having local Northumberland know how is a benefit. That being said it's more important to get someone that will do a good and efficient job. If other friends have instructed your friend and they were impressed that should outweigh using an unfamiliar Northumberland conveyancing lawyer solely due to them being Northumberland based.
I have been advised by various family members to expect up to two months for Northumberland conveyancing to complete.This was four weeks ago. The property information was only sent from the vendors solicitor yesterday so does the time start running now?
One should treat with caution of any conveyancing practitioner promising expedited completion times. Instead ask the average time it takes for them to complete Northumberland conveyancing transactions and whether they are content to aim towards an agreed target date for your home move in Northumberland