My god-son is in the process of securing a new build apartment in Wolverhampton with a mortgage from Virgin Money. His conveyancer has advised him of a delay in completing 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 involved in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Virgin Money conveyancing panel as a standard part of the process, and to the surveyor when asked. 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 Virgin Money 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 house in Wolverhampton but still invoiced for rent, why is this and what is this?
It is rare for properties in Wolverhampton and has limited impact for conveyancing in Wolverhampton 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 many centuries, but the Rent Charge Act 1977 barred the establishment of new rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be extinguished.
There are plenty of conveyancing solicitors in Wolverhampton but how do I know who's good?
We would encourage you not to go for the lowest Wolverhampton conveyancing fees. You really do get what you pay for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of time.
I am helping my step-mother sell her flat in Wolverhampton. Does the conveyancer commission an energy performance certificate or do I organise this?
After the demise of HIPs, energy performance certificates became a required element of selling a house. An energy assessment must be to hand in advance of the property being put on the market. It is not a task that lawyers normally arrange. If you are using a Wolverhampton conveyancing lawyer they might be willing to arrange energy performance certificates due to their relationships with reputable local assessors
is it true that all Wolverhampton solicitors on the Virgin Money conveyancing panel are overseen by the SRA?
As a firm of solicitors, in order to be on the Virgin Money approved list of solicitors they would need to be regulated by the SRA. Some banks do permit licenced conveyancers on their panel and in such a situation the organisation would be regulated by the CLC.
I opted to have a survey completed on a property in Wolverhampton ahead of retaining conveyancers. I have been advised that there is a flying freehold aspect to the house. Our surveyor advised that some banks will refuse to grant a loan on a flying freehold home.
It varies from the lender to lender. Lloyds has different requirements from Nationwide. Should you wish to call us we can check via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Wolverhampton. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Wolverhampton to see if the conveyancing will be more expensive.
Do I need to be suspicious about brokers that I am dealing with are encouraging me to use a factory type conveyancing firm rather than a High Street Wolverhampton conveyancing firm?
As with many professional services, often input from connections can be worth their weight in gold. Yet there are many parties with a vested interest in a conveyancing transaction; estate agents, financial adviser and banks may put forward conveyancers to select. Sometimes these lawyers might be known to one of the organisations as being good in their field, but occasionally there behind the scenes commercial relationship behind the endorsement. You are at liberty to select your preferred conveyancer. However, bear in mind that most mortgage providers have an approved list of solicitors you are obliged to use for the mortgage related work in your home move.
In my capacity as executor for the will of my grandmother I am disposing of a property in Swansea but live in Wolverhampton. My lawyer (who is 235 miles from meneeds me to sign a statutory declaration ahead of the transaction finalising. Could you suggest a conveyancing practitioner in Wolverhampton to witness this legal document for me?
strictly speaking you are not likely to be required to have the documents witnessed by a conveyancing solicitor. Ordinarily or notary public or solicitor will suffice regardless of whether they are Wolverhampton based