My son-in-law is about to exchange on a new build apartment in Rutland with a home loan from TSB. His lawyer 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 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 TSB conveyancing panel as a standard part of the process, and to the valuer 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 TSB conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Do lenders provide you with an approved list of Rutland conveyancing solicitors? How do you know who is on the HSBC conveyancing panel?
Rutland conveyancing firms themselves provide us confirmation that they are on the HSBC conveyancing panel as opposed to being supplied with a list from HSBC directly.
Forgive me if this question is silly but I am unseasoned as FTB of a ground floor flat in Rutland. Do I collect the keys to the premises on completion from my solicitor? If this is the case, I will instruct a local conveyancing solicitor in Rutland?
On the day of completion you do not need to attend the conveyancers office in Rutland. Your solicitors will arrange to send the purchase money to the seller's conveyancers, and once they have received this, you should be called to pick up the keys from the Estate Agents and move into your new home. Usually this happens early afternoon.
Are all Rutland Conveyancing Quality Solicitors on the Kent Reliance conveyancing list of approved practices?
It is true that some lenders now use CQS as the kick off point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to join their approved list of firms.
The formalities of my remortgage has taken place for my property in Rutland. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
All lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Department at head office. In most cases complaints to a lender are resolved very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
How does conveyancing in Rutland differ for new build properties?
Most buyers of new build or newly converted property in Rutland come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the house is completed. This is because house builders in Rutland usually purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Rutland or who has acted in the same development.
Over the last few months I have been searching for a ground for flat up to £245,000 and found one near me in Rutland I like with open areas and station in the vicinity, however it's only got 51 years unexpired on the lease. I can't really find anything else in Rutland suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you require a mortgage the shortness of the lease will be a potential deal breaker. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of 2 years you may request that they commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this matter.
I'm refinancing my current house to a BTL mortgage with Nationwide Building Society and I will use the rest of the raised equity as a down payment on further house. The neighborhood we are talking about is Rutland. Will your conveyancers be able to act for both sets of mortgage companies and tie in the two deals?
Make use of our comparison tool on this site to be sure that the lawyers are approved by both banks. Assuming that they are your conveyancer should be able to simultaneously deal with the two transactions but you should have a chat with you solicitor and communicate your desired outcome and requirements.