Our son-in-law is in the process of securing a house that has just been built in Elephant and Castle with a mortgage from Virgin Money. His lawyer has said that there is a delay in completing 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 engaged in the transaction. 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 am planning to acquire a house and require a conveyancing solicitor in Elephant and Castle who is on the Chelsea Building Society conveyancing. Can you recommend a local solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Chelsea Building Society in certain locations such as Elephant and Castle. We dont recommend any particular firm.
I am looking for a leasehold apartment up to £305k and found one close by in Elephant and Castle I like with open areas and station in the vicinity, however it only has 51 years unexpired on the lease. I can't really find anything else in Elephant and Castle in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?
If you require a mortgage the shortness of the lease will likely be problematic. Reduce the price by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least 2 years you may request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor about this.
Am I right to be suspicious by 3rd parties that I am dealing with are recommending an internet conveyancing firm rather than a local Elephant and Castle conveyancing firm?
As is the case with many professional services, often referrals from relatives can be worth their weight in gold. Yet there are lots of players in a conveyancing deal; estate agents, financial adviser and lenders might all recommend solicitors to use. Sometimes these conveyancers might be known to one of the organisations as one of the best in their field, but occasionally there behind the scenes commercial relationship behind the recommendation. You are free to choose your preferred conveyancer. However, bear in mind that the majority of banks operate an approved list of lawyers you have to use for the lender aspect of your conveyancing.
My husband and I are 18 days into a freehold purchase having been directed to conveyancers by the estate agent to do our conveyancing in Elephant and Castle. I am am extremely disappointed with the level of service. Can you help me find new solicitors?
A solicitor would need to be really bad to suggest replacing them. Has the mortgage been generated? If so you will need to advise them of the new lawyer and ensure the offer are re-sent. Your new conveyancer should be on the banks approved list to avoid escalating fees and frustration. So that should be your starting point. The find a solicitor tool should help you find a bank approved lawyer for your conveyancing in Elephant and Castle