Our grandson is in the process of securing a newly built flat in Tadley with a home loan from Leeds Building Society. His conveyancer has advised him of 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 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 Leeds Building Society 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 Leeds Building Society 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 premises in Tadley but nevertheless charged rent, why is this and what is this?
It is rare for properties in Tadley and has limited impact for conveyancing in Tadley 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 have existed for hundreds of years, but the Rent Charge Act 1977 barred the creation of new rentcharges post 1977.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
Are the BSA planning on creating a online directory to to identify law firms on the Loughborough BS conveyancing panel for example in Tadley?
We would not expect to be advised of any intention on the part of the BSA to develop such a register.
Have just purchased a repossessed house at auction in Tadley. Conveyancing is needed. What happens now?
Given that you are now exchanged you now have to hire the services of a conveyancing solicitor quickly as you are facing a tight a drop dead date to complete the purchase. An auction property should have a corresponding legal pack. This will include the copy title deeds, local authority and drainage searches. In the case of leasehold property the auction pack should include a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork specific to a leasehold property. You need to pass this on to your appointed conveyancing solicitor ASAP. You also need to ensure that your finances are organised to complete on the on the contractual date .
We previously instructed conveyancers located in Tadley on the Nottingham solicitor panel. They have just billed me a separate amount for dealing with the Nottingham mortgage. Is this an additional conveyancing fee set by Nottingham?
Provided it is contained in their Terms of Engagement or estimate then yes your conveyancing practitioner is entitled to levy a fee for this. The charge is not dictated by Nottingham but by your Tadley conveyancer. Numerous firms on the Nottingham panel will charge an ‘acting for lender’ fee but many practices include it on their overall fee.
After shopping around on the internet I have found a Tadley lawyer having made sure that they are on the Skipton conveyancing panel. Does my lawyer arrange the survey of the property?
Skipton will need an independent valuation of the property. Your lawyer will not arrange this. Usually Skipton will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Tadley postcode. As you are getting a mortgage with Skipton, you could contact them to see if they have a list of approved surveyors in Tadley.
I opted to have a survey done on a property in Tadley in advance of instructing lawyers. I have been advised that there is a flying freehold element to the house. My surveyor has said that some banks will not issue a loan on this type of home.
It varies from the lender to lender. Lloyds has different requirements for example to Birmingham Midshires. If you e-mail us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Tadley. Conveyancing may be slightly more expensive based on your lender's requirements.
How do I use your search tool to choose a conveyancing lawyer in Tadley on the panel for my lender?
First pick a mortgage company such as Santander, Barnsley Building Society or Barclays Direct then type in your preferred area a common one being Tadley. Conveyancing firms in Tadley and beyond should be identified.