My nephew is buying a newly built flat in Uppingham with a home loan from Co-operative. His conveyancer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. Who needs to receive the form?
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 Co-operative 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 Co-operative conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Do I choose a Licenced Conveyancer or Solicitor for conveyancing in Uppingham?
There are many registered licenced Conveyancers in Uppingham and Solicitor practices in Uppingham to choose from We would stress that both are regulated professionals specialising in the legal aspects of the home buying process. Both can deal with associated property related work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
I have today made my last payment due on my mortgage with Nottingham. I assume I don't need a Uppingham solicitor on the Nottingham panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Nottingham mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Nottingham mortgage from the register. Nottingham, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Nottingham has sent the Land Registry the discharge electronically, and
- Nottingham has instructed the Land Registry to do so
After much negotiation I have agreed a price on a house in Uppingham. My financial adviser pressured me to appoint their solicitor. I paid an upfront payment of £150. A couple of days later, the lawyer contacted me to say that they were not on the TSB conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the TSB panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
What can a local search tell me regarding the property we're buying in Uppingham?
Uppingham conveyancing often commences with the ordering local authority searches directly from your local Authority or via a personal search company for instance Xpress Legal The local search plays an important role in many a Uppingham conveyancing purchase; as long as you wish to avoid any nasty once you have moved into your new home. The search will provide data on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic headings.
Me and my brother own a 4 bedroom Georgian property in Uppingham. Conveyancing practitioner acted for me and Santander. I happened to do a free search for it on the Land Registry database and I saw two entries: one for freehold, the second leasehold under the exact same property. If a house is not a freehold shouldn't I have been informed?
You need to review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Uppingham and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the position with your conveyancing solicitor who conducted the conveyancing.
I'm purchasing a new build house in Uppingham benefiting from help to buy. The sellers would not move on the amount so I negotiated 6k of additionals instead. The estate agent advised me not inform my solicitor about the side-deal as it could affect my mortgage with the bank. 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.
My sealed bid on property in Uppingham was agreed to, but there is a chain. The vendors have put an offer on somewhere, however it’s not yet tied up, and are looking at other properties in the pipeline. I have chosen a local conveyancing lawyer in Uppingham. What do I do now? When do I get the mortgage application with RBS started with RBS?
It is normal to have anxieties where there is a chain as you are unlikely to want to incur expenses too early (mortgage application is in the region of one thousand pounds, then valuation, Uppingham conveyancing search charges, etc). First, you should ensure that your conveyancer is on the RBS approved list. As to the subsequent phase this very much depends on the uniqueness of your transaction, desire for this property and on the state of the market. In a hot market many buyers would apply for a home loan with RBS and pay for the valuation and only if it was satisfactory would they pay their property lawyer to press on with searches.