My god-son is buying a house that has just been built in Frampton on Severn with a home loan from RBS. His solicitor 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 involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the RBS 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 RBS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Do banks and building societies provide you with an approved list of Frampton on Severn conveyancing solicitors? How do you know who is on the Santander conveyancing panel?
Frampton on Severn conveyancing firms themselves provide us confirmation that they are on the Santander conveyancing panel as opposed to being supplied with a list from Santander directly.
We're in Frampton on Severn, First timers purchasing with a mortgage (lender is Kent Reliance , and our lawyer is on the Kent Reliance conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Kent Reliance conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancing practitioner should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I decided to have a survey done on a house in Frampton on Severn in advance of instructing conveyancers. I have been advised that there is a flying freehold overhang to the property. Our surveyor advised that some lenders may not give a loan on such a home.
It depends who your proposed lender is. Lloyds has different instructions from Birmingham Midshires. Should you wish to telephone us we can look into this further with the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Frampton on Severn. Conveyancing may be slightly more expensive based on your lender's requirements.
I’m about to sell my garden apartment in Frampton on Severn. Conveyancing lawyers have not yet been instructed, but I have recently had a half-yearly service charge demand – Do I pay up?
It best that you discharge the invoice as normal as all ground rent and maintenance payments will be allotted as part of the financial calculations for completion monies, so you will be reimbursed by the buyer for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I acquired a leasehold flat in Frampton on Severn, conveyancing having been completed April 2003. How much will my lease extension cost? Equivalent flats in Frampton on Severn with a long lease are worth £190,000. The ground rent is £45 levied per year. The lease expires on 21st October 2083
You have 62 years remaining on your lease the likely cost is going to span between £17,100 and £19,800 plus legals.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.