My god-son is in the process of securing a new build apartment in Yoxall with a mortgage from Nationwide. His lawyer has advised him of 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 transaction. Therefore, it will be provided to your son’s lawyer who should be on the Nationwide 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 Nationwide conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
We had selected conveyancing lawyers with offices in Yoxall on the UBS solicitor panel. They have just invoiced me an additional sum for the legal aspects of the UBS mortgage. Is this an additional conveyancing fee set by UBS?
As unfair as it may appear, as long as it’s in their Terms and Conditions or estimate then yes your conveyancer is entitled to charge a fee for this. This fee is not dictated by UBS but by your Yoxall lawyer. Some firms on the UBS panel will charge ’dealing with mortgage’ fee but some firms incorporate it on their overall fee.
My husband and I have arranged the release of further monies on our home loan from Coventry BS as we wish to carry out improvements to our property in Yoxall. Are we obliged to appoint a nearby Yoxall solicitor on the Coventry BS conveyancing panel to handle the legals?
Coventry BS do not ordinarily require a member of their approved list of lawyers to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Coventry BS panel.
Two weeks ago we had a mortgage agreed in principle with Virgin Money. Yoxall conveyancing lawyers are selected. What is the average time that one could expect to receive a mortgage offer from Virgin Money?
There is no definitive answer here. Have Virgin Money conducted the survey? Have you advised Virgin Money as to your lawyers' details and checked that your lawyers are on the Virgin Money conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
What does a local search tell me concerning the property we're buying in Yoxall?
Yoxall conveyancing often starts with the ordering local authority searches directly from your local Authority or via a personal search company such as Searchflow The local search is essential in every Yoxall conveyancing purchase; as long as you don’t want any unpleasant surprises after you move into your property. The search will supply information on, amongst other things, details on planning applications applicable to the premises (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 thirteen subject headings.
How does conveyancing in Yoxall differ for new build properties?
Most buyers of new build residence in Yoxall come to us having been asked by the builder to sign contracts and commit to the purchase even before the house is constructed. This is because builders in Yoxall usually buy 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 Yoxall or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a property I put an offer in last month in what should have been a simple, no chain conveyancing. Yoxall is the location of the property. Can you offer any advice?
Flying freeholds in Yoxall are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Yoxall you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Yoxall may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I happen to be an executor of my recently deceased parent's Will, with a bungalow in Yoxall which is to be marketed. The house is unregistered at HMLR and I'm advised that some EAs will insist that it is completed before they will proceed. What's the mechanism for this?
In the situation that you have set out it seems prudent to seek to register in the names of the personal representative(s) as named in the probate and in their capacity as PRs. The Land Registry’s online guidance explains how to register for the first time and what is required re the deeds and forms. You would need to include and official copy of the probate as well and complete the form FR1 to refer to the PRs as the applicant.