I am obtaining a mortgage with Halifax. I hope to instruct a Licensed Conveyancer in Somerton. Does the Halifax Conveyancing panel include Licensed Conveyancers?
The Halifax approved solicitor list is, like many other lenders, associated to the CML or BSA, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
Our nephew is about to exchange on a new build apartment in Somerton with a home loan from Clydesdale. His solicitor has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The form is intended to provide information to the main parties involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Clydesdale 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 Clydesdale conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I purchased a freehold property in Somerton yet charged rent, why is this and what is this?
It is rare for properties in Somerton and has limited impact for conveyancing in Somerton but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the creation of new rentcharges post 1977.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
Forgive me if this question is silly but I am new to the home moving as FTB of a ground floor flat in Somerton. Do I pick up the keys to the house on the completion date from my solicitor? If this is the case, I will appoint a High Street conveyancing solicitor in Somerton?
There is no need to visit the lawyers office on the day of completion. Your solicitors will electronically transfer the completion advance to the seller's solicitors, and shortly after the monies have arrived, you should be able to receive the keys from the selling Agents and move into your new home. Usually this occurs early afternoon.
A relative pointed out to me me that in purchasing a property in Somerton there could be various restrictions preventing external changes to a property. Is this right?
We are aware of a number of properties in Somerton which have some sort of restriction or requirement of consent to external alterations. Part of the conveyancing in Somerton should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I have decided to exercise my right to buy my property in Somerton off the council. I have a mortgage offer with Lloyds. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Lloyds, you will need to appoint a solicitor on the Lloyds conveyancing panel.
I am purchasing my first flat in Somerton with a loan from Skipton Building Society. The sellers refused to budge the price so I negotiated 6k of fixtures and fittings instead. The estate agent told me not inform my conveyancer about the extras as it could impact my mortgage with Skipton Building Society. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I am looking into buying my first house which is in Somerton and I am already nervous. I couldn't find anything specific about Somerton. Conveyancing will be needed in due course but do you know about the Somerton area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Somerton. In the meantime here are some basic statistics that we found