My son is in the process of securing a house that has just been built in Llandovery with a home loan from Lloyds. His lawyer has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. Who needs to receive the form?
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 Lloyds conveyancing panel as a standard part of the process, and to the surveyor 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.
We're in Llandovery, First time buyers buying with a mortgage (lender is TSB , and our lawyer is on the TSB conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the TSB conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no lawyer 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.
As co-executor for the estate of my father I am selling a residence in Neath but live in Llandovery. My lawyer (based 260 miles awayneeds me to execute a stat dec before the transaction finalising. Could you suggest a conveyancing lawyer in Llandovery to attest and place their company stamp on the document?
Technically speaking you should not be required to have the documents witnessed by a conveyancing solicitor. Normally any notary public or qualified solicitor will do regardless of whether they are located in Llandovery
I am hoping to sign contracts shortly on a basement flat in Llandovery. Conveyancing solicitors have said that they are sending me a report within the next couple of days. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Llandovery should include some of the following:
Where does the liability rest to repair and maintain the main walls and foundations. It is important that you know who is liable for the repair and maintenance of all parts of the block and estate You would want to receive a copy of the lease Repair and maintenance of the flat You should have a good understanding of the insurance provisions Setting out your legal entitlements in relation to the communal areas in the block.For example, does the lease grant a right of way over an accessway or staircase?
Llandovery Conveyancing for Leasehold Flats - Examples of Questions you should ask before Purchasing
Where a Llandovery lease has fewer than eighty years it will affect the marketability of the apartment. Check with your lender that they are happy with remaining years on the lease. Leases with less than 80 years remaining means that you will almost definitely require a lease extension sooner rather than later and you need to have some idea of what this will be. Remember, in most cases you will need to own the property for 24 months in order to be entitled to extend the lease. What is the annual service fee and ground rent? It would be a good idea to find out if there are any onerous prohibitions in the lease. For instance it is fairly common in Llandovery leases that pets are not permitted in in a block in Llandovery. If you like the apartmentin Llandovery but your dog can’t move with you then you will be faced hard determination.
Would local authority permission be necessary to split a single dwelling into a couple of flats in Llandovery? This has taken place to a property next door to my house in Llandovery and was not aware of the conversion until it was done.
Planning permission is required for converting a single dwelling in Llandovery into flats but possibly not for converting back to single dwelling-house so, simply put, yes,a it is required.