My grandson is about to exchange on a house that has just been built in Wallsend with a home loan from TSB. His solicitor has said that there is 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 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.
I am buying a right to buy a flat in Wallsend. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Wallsend you will have to appoint a solicitor on your lender's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Wallsend.
We have a mortgage agreed in principle with Barclays. Wallsend conveyancing lawyers have been chosen. What is the average time that one could expect to receive a mortgage offer from Barclays?
Some lenders take longer than others. Have Barclays done the valuation? Have you informed Barclays as to your lawyers' details and checked that your lawyers are on the Barclays conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I recently had an offer agreed on an apartment in Wallsend. My mortgage broker suggested a solicitor. I paid an on account payment of £225. Not long after, the solicitor contacted me to say that they were not on the Skipton 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 Skipton 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.
I am selling my house. I had a double glazing fitted in May 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, RBS are being problematic. The Wallsend solicitor who is on the RBS conveyancing panel is happy to accept ‘lack of building regulation’ insurance but RBS are requiring a building regulation certificate. Why do RBS have a conveyancing panel if they don't accept advice from them?
It is probably the case that RBS have referred the matter to their valuer. The reason why RBS may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
How does conveyancing in Wallsend differ for newly converted properties?
Most buyers of new build residence in Wallsend come to us having been asked by the developer to exchange contracts and commit to the purchase even before the premises is completed. This is because builders in Wallsend typically acquire the land, 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 conveyancing solicitors 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 used to new build conveyancing in Wallsend or who has acted in the same development.
I am looking for a ground for flat up to £235,500 and found one round the corner in Wallsend I like with a park and transport links nearby, the downside is that it only has 52 years unexpired on the lease. There is not much else in Wallsend for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you need a home loan the shortness of the lease will likely be a potential deal breaker. Reduce the price by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least twenty four months you can ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this matter.
I am using a search engine for the words conveyancing in Wallsend it shows results of many conveyancersin the vicinity. How do I determine which is the suitable property lawyer for me?
The ideal way of choosing the right conveyancer is through a personal testimonial, so enquire of colleagues and relatives who have purchased a property in Wallsend or the respected estate agent or mortgage broker. Fees for conveyancing in Wallsend vary, so it's advisable to secure a minimum of four costs illustrations from different conveyancers. Be sure to secure confirmation that the fees are fixed.