Our god-son is in the process of securing a new build apartment in Urmston with a mortgage from Lloyds. His solicitor has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
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 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.
It has been four months since my purchase conveyancing in Urmston took place. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I have been on the look out for a leasehold apartment up to £305k and identified one near me in Urmston I like with amenity areas and station nearby, the downside is that it only has 61 years on the lease. I can't really find anything else in Urmston suitable, so just wondered if I would be making a mistake buying a short lease?
If you require a home loan the remaining unexpired lease term will be a potential deal breaker. Reduce the price by the expected lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least twenty four months you may ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer concerning this matter.
What makes your site different to other web based conveyancing solicitors when it comes to conveyancing in Urmston?
At this site get a fixed fee quote via a Solicitor or Licensed Conveyancer that appreciates the issues of your conveyancing in Urmston. As opposed to estate agents and brokerage sites we do not charge firms a commission if you instruct them for your property ownership legalities in Urmston
What are the compelling benefits to choosing a high street conveyancer in Urmston
Many purchasers and sellers in Urmston decide on using a nearby high street conveyancing practitioner so that they can attend the firm’s offices if they have concerns, and to collect mortgage deeds without using the post.
We would suggest that there is a distinct advantage when selecting a conveyancer nearby to the house you are hoping to purchase, due to the knowledge of the locality and possible local issues - however this is moot. Many conveyancers are now online and could be any place in the world.