Our god-son is in the process of securing a new build apartment in Chinatown with a home loan from Co-operative. His solicitor 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 transaction. 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.
How do I check that the solicitor handling my conveyancing in Chinatown is on the mortgage lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Skipton Building Society thus paying £187.00 plus VAT in another set of legal costs.
Feel free to take advantage of the find a lender approved solicitor tool on this page. Please choose the mortgage company and type ‘Chinatown’ or your preferred area and you will see a number of lawyer located in Chinatown or by proximity to you.
Me and my brother have a 4 bedroom Edwardian house in Chinatown. Conveyancing practitioner represented me and Chelsea Building Society. I did a free Land Registry search last week and there are two entries: the first freehold, another for leasehold under the matching property. If a house is not a freehold shouldn't I have been informed?
You should assess 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 owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Chinatown and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also enquire as to the situation with your conveyancing lawyer who conducted the purchase.
I decided to have a survey carried out on a property in Chinatown before appointing solicitors. I have been advised that there is a flying freehold element to the property. My surveyor advised that some lenders will refuse to issue a loan on such a premises.
It depends who your proposed lender is. Santander has different requirements from Nationwide. If you contact us we can check via the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Chinatown. Conveyancing will be smoother if you use a solicitor in Chinatown especially if they regularly deal with such properties in Chinatown.
I need to appoint a conveyancing solicitor for purchase conveyancing in Chinatown. I've land on a web site which seems to have the ideal answer If there is a chance to get all formalities completed via email that would be ideal. Do I need to be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?