My grandson is purchasing a newly built flat in Tonteg with a home loan from Kent Reliance. His solicitor has advised him of 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 Kent Reliance 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 Kent Reliance conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
we are a couple who wish to acquire a newly converted flat in Tonteg with a residential mortgage from Nationwide Building Society.We like our Tonteg conveyancing practitioner but Nationwide Building Society says he's not listed on their "panel". It seems we are left with little choice but to instruct a Nationwide Building Society panel lawyer or retain our local solicitor and fork out for one of their panel ones to act for them. This seems very unfair; is there anything we can do?
Unfortunately,no. The mortgage offered to you contains terms and conditions, a common one being that conveyancers will be on the Nationwide Building Society approved list. Until recently, most banks had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your lawyer to apply to be on the conveyancing panel for Nationwide Building Society
I have been told that property searches are the main cause of obstruction in Tonteg conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) released determinations of research by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of delays during the legal transfer of property. Local searches are not likely to feature in any delay in conveyancing in Tonteg.
It has been three months since my purchase conveyancing in Tonteg took place. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Due to the encouragement of my in-laws I had a survey completed on a property in Tonteg before instructing lawyers. I have been advised that there is a flying freehold aspect to the property. Our surveyor advised that some lenders may not give a mortgage on a flying freehold house.
It varies from the lender to lender. Lloyds has different instructions from Nationwide. If you contact us we can look into this further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Tonteg. Conveyancing will be smoother if you use a solicitor in Tonteg especially if they are familiar with such properties in Tonteg.
In my capacity as executor for the will of my grandfather I am selling a residence in Neath but I am based in Tonteg. My solicitor (approximately 260 kilometers awayhas requested that I execute a statutory declaration prior to the transaction finalising. Could you suggest a conveyancing lawyer in Tonteg who can witness this legal document for me?
Technically speaking you are unlikely to need to have the documents witnessed by a conveyancing solicitor. Normally any notary public or qualified solicitor will do regardless of whether they are based in Tonteg