My grandson is about to exchange on a newly built flat in Lincolnshire with a home loan from Lloyds. 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 document is intended to provide information to the main parties involved in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Lloyds 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 Lloyds conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Our lender has suggested solicitors on their panel based in Lincolnshire but I would rather use a conveyancing lawyer in Lincolnshire local to me. Are you able to help?
Far from all Lincolnshire conveyancing practices are approved and listed on all banks conveyancing panel. Use our search tool to identify a Lincolnshire conveyancing firm on the on the bank panel.
I have paid off my mortgage with Principality. I assume I don't need a Lincolnshire solicitor on the Principality panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Principality mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Principality mortgage from the register. Principality, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Principality has sent the Land Registry the discharge electronically, and
- Principality has instructed the Land Registry to do so
I am currently in the process of buying my council flat in Lincolnshire. I have a mortgage offer with Aldermore. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Aldermore, you will need to appoint a solicitor on the Aldermore conveyancing panel.
Barclays have agreed my mortgage in principle, my bid on a flat in Lincolnshire has been accepted, what are the next steps?
The property agent will need to be informed of your solicitor's details (ensure that the property lawyers are on the lender’s panel). Contact Barclays or your broker and finalise any relevant documentation. Barclays will instruct a valuer who will get in contact with the estate agent or seller to arrange a time for the valuation to occur. Once carried out (assuming no problems) it takes approximately a fortnight for the mortgage offer to be issued. Barclays will send the offer to you and your solicitors. The legal work will then take it’s course according the nature and complexity of the conveyancing in Lincolnshire.
I am looking for a leasehold apartment up to £235,500 and found one close by in Lincolnshire I like with a park and station in the vicinity, the downside is that it's only got 51 years unexpired on the lease. I can't really find anything else in Lincolnshire suitable, so just wondered if I would be making a mistake buying a lease with such few years left?
If you require a mortgage the remaining unexpired lease term may be problematic. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the premises for at least twenty four months you can ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this matter.
My husband and I are FTB’s - agreed a price, but the selling agent told us that the owners will only issue a contract if we appoint the agent's preferred conveyancers as they need an ‘expedited deal’. We would rather use a family solicitor with experience of conveyancing in Lincolnshire
We suspect that the owner is unaware of this ultimatum. Should the owner desire ‘a quick sale', alienating a serious buyer is likely to cause more damage than good. Speak to the owners direct and make the point that (a)you are serious purchasers (b)you are ready to progress, with finances in place © you are chain free (d) you wish to move quickly (e)but you intend to appoint your preferred Lincolnshire conveyancing firm - not the ones that will provide the estate agent a referral fee or achieve conveyancing targets pre-set by corporate headquarters.