My son-in-law is in the process of securing a house that has just been built in Woodley with a home loan from Principality. His lawyer 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 form is intended to provide information to the main parties engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Principality 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 Principality 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 newbuild flat in Woodley with a loan from Santander.We like our Woodley conveyancing practitioner but Santander advised that he's not listed on their "panel". It seems we are left with no choice but to instruct a Santander panel firm or retain our local solicitor and pay for a Santander panel lawyer to act for them. This seems very unfair; Can we not simply insist that Santander use our lawyer?
Unfortunately,no. The home loan issued to you is subject to its various provisions, one of which will be that lawyers must be on the Santander solicitor panel. Until recently, most lenders 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. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for Santander
I require expedited conveyancing in Woodley as I am under an ultimatum to sign on the dotted line inside 4 weeks. Luckily I do not need a mortgage. Can I avoid the conveyancing searches to save fees and time?
If.Given you are not getting a mortgage you have the choice not to have searches conducted although no law firm would suggest that you don't. With lots of history conveyancing in Woodley the following are instances of issues that can appear and therefore impact future mortgageability: Enforcement Notices, Outstanding Fees, Overdue Grants, Railway Schemes,...
Despite weeks of looking the Title Certificate and documents to our house are lost. The solicitors who conducted the conveyancing in Woodley 5 years ago no longer exist. What are my next steps?
Assuming you have a registered title the information relating to your proprietorship will be held by HMLR with a Title Number. It is easy to perform a search at the Land Registry, identify your house and secure up to date copies of the property title for less than a fiver. Where the title is Leasehold then the Land Registry will usually retain a certified duplicate of the Registered Lease and again, a copy can be ordered for a small fee.
How difficult is it to swap solicitor as I need to retain one who is on the Lloyds TSB Bank conveyancing list. I was using a family conveyancing solicitor in Woodley five minutes from me but he is not accepted by Lloyds TSB Bank
It would be our pleasure to assist you select a conveyancing solicitor in Woodley on the Lloyds TSB Bank panel. Please note that the solicitors that we on the directory do not pay us fee if you instruct them and are under regulation of the SRA who oversee all conveyancing solicitors in Woodley. In making use of search facility on this site, you can compare and instruct different solicitors and conveyancers both nationally and in Woodley.
I am a negotiator for a reputable estate agency in Woodley where we have witnessed a few leasehold sales jeopardised as a result of short leases. I have been given conflicting advice from local Woodley conveyancing solicitors. Can you clarify whether the owner of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I inherited a basement flat in Woodley, conveyancing was carried out 3 years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Woodley with an extended lease are worth £190,000. The average or mid-range amount of ground rent is £65 per annum. The lease expires on 21st October 2085
With only 61 years remaining on your lease we estimate the premium for your lease extension to be between £19,000 and £22,000 plus costs.
The figure above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.