Our god-son is purchasing a new build apartment in Leytonstone with a home loan from Virgin Money. His conveyancer 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 document is intended to provide information to the main parties engaged in the purchase. 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.
When it comes to mortgage companies such as Virgin Money, do Leytonstone lawyers face an annual charge to be on the conveyancing panel?
We are unaware of any bank fees to register on their panel, although some do charge an administration charge to deal with the processing of the conveyancing panel submission.
My husband and I have organised the release of further monies on our mortgage from UBS as we wish to conduct alterations to our property in Leytonstone. Do we need to appoint a high street Leytonstone solicitor on the UBS conveyancing panel to handle the legals?
UBS would not normally appoint firms on their conveyancing panel to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the UBS panel.
Planning on purchasing a maisonette in Leytonstone. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Principality conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Leytonstone conveyancer is on the Principality conveyancing panel.
Just had an offer accepted on a new build flat in Leytonstone. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below is a sample of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Leytonstone
Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please confirm the Lease plans are surveyor prepared. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
Hoping to buy a property located in Leytonstone and I am already nervous. I couldn't find anything specific about Leytonstone. Conveyancing will be needed in due course but do you know about the Leytonstone area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Leytonstone. In the meantime here are some basic statistics that we found
Am I better off to instruct a Leytonstone conveyancing practitioner based in the location that I am purchasing? We have a good friend who can deal with the legal work but her office is approximately 350miles drive away.
The primary upside of using a high street Leytonstone conveyancing firm is that you can attend the office to sign paperwork, hand in your ID and pester them if necessary. Having local Leytonstone know how is a benefit. However it's more important to get someone that will do a good and efficient job. If you know people who instructed your friend and on the whole were happy that should outweigh using an unfamiliar Leytonstone conveyancing solicitor just because they are round the corner.