Our nephew is buying a new build apartment in Okehampton with a mortgage from Santander. His solicitor has said that there is a delay in completing the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
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 Santander conveyancing panel as a standard part of the process, and to the surveyor 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.
We see that you have a search directory identifying solicitors on the Nottingham conveyancing panel. Do companies pay you a commission if I appoint them for our conveyancing in Okehampton?
We are a listing service only for law firms wishing to communicate if they are on the Nottingham conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Okehampton.
Is it the case that all Okehampton CQS (Conveyancing Quality Scheme) solicitors are on the Kent Reliance conveyancing panel?
It is true that some banks and building societies now use the accreditation scheme as the kick off point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their panels.
I am expecting a AIP from Principality this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Principality recommend any Okehampton solicitors on the Principality conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Okehampton solicitors independently although you'll need to choose one on the Principality conveyancing panel. The solicitor represents both you and Principality through the process.
My offer on a detached house in Okehampton has been accepted, the sellers do however have a connected purchase. The vendors have put an offer on a flat, but it’s not yet agreed to, and are looking at other apartments booked. I have chosen a bricks and mortar conveyancing solicitor in Okehampton. What do I do now? At what stage should I apply for the mortgage with Nottingham?
It is normal to have anxieties where there is a chain as you are unlikely to want to incur costs too early (mortgage application is in the region of £1k, then survey, Okehampton conveyancing search fees, etc). First, you must ensure that your solicitor is on the Nottingham approved list. Concerning the subsequent steps this very much depends on the uniqueness of your case, attraction to this property and on the state of the market. In a rising market many home buyers would apply for a home loan with Nottingham and arrange for the valuation and only if it was satisfactory would they request their property lawyer to press on with the conveyancing in Okehampton.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in last month in what should have been a quick, chain free conveyancing. Okehampton is the location of the property. What do you suggest?
Flying freeholds in Okehampton are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Okehampton you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Okehampton may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
How difficult is it to transfer to a new solicitor as I need to instruct a firm on the Yorkshire Building Society conveyancing list. I had appointed a high street conveyancing solicitor in Okehampton five minutes from me but he is not approved by Yorkshire Building Society
We will our best to assist in finding you a conveyancing solicitor in Okehampton on the Yorkshire Building Society panel. Please note that the property lawyers that we work with do not pay us a referral fee if you instruct them and are registered with the SRA who regulate all conveyancing solicitors in Okehampton. In utilising the find a conveyancing solicitor tool on this site, you can compare and instruct different solicitors and conveyancers both nationally and in Okehampton.
My wife and I purchased a leasehold house in Okehampton. Conveyancing and Halifax mortgage went though with no issue. A letter has just been received from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1993. The conveyancing solicitor in Okehampton who previously acted has long since retired. Any advice?
First contact HMLR to be sure that this person is indeed the new freeholder. There is no need to instruct a Okehampton conveyancing firm to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I own a split level flat in Okehampton, conveyancing formalities finalised 5 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable properties in Okehampton with over 90 years remaining are worth £195,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease terminates on 21st October 2087
With just 62 years unexpired we estimate the price of your lease extension to be between £17,100 and £19,800 as well as legals.
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 tribunal or court proceedings. There may be additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.