My son-in-law is in the process of securing a newly built flat in Wollaton with a mortgage from Nationwide. His lawyer has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The document 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 Nationwide 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 Nationwide conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
My uncle informed me that in purchasing a property in Wollaton there could be a number of restrictions prohibiting external changes to a property. Is this right?
We are aware of anumerous of properties in Wollaton which have some sort of restriction or requirement of consent to perform external variations. Part of the conveyancing in Wollaton should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
About to purchase apartment in Wollaton. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Nationwide 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 Wollaton lawyer is on the Nationwide conveyancing panel.
Clydesdale have agreed my home loan in principle, my offer on a flat in Wollaton has been accepted, what are the next steps?
The estate agent will want to be informed of your solicitor's details (make sure the property lawyers are on the lender’s approved list). Contact Clydesdale or your broker and finish off any outstanding documentation. Clydesdale will instruct a valuer who will get in touch with the selling agent or seller to book a time for the valuation to take place. Once carried out (assuming no problems) it takes on average ten days to get a mortgage offer. Clydesdale will issue the offer to you and your conveyancers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Wollaton.
I acquired my flat on 12 November and my personal details are still not on the land registry website. Any reason for this? My conveyancing solicitor in Wollaton expressed confidence that it will be concluded in less than a month. Are properties in Wollaton uniquely lengthy to register?
There is nothing unique when it comes to conveyancing in Wollaton registration formalities. Rather than based on location, timescales can vary depending on who lodges the application, whether there are errors and whether the Land registry must send notices to any interested parties. At present roughly 80% of submission are fully dealt with in less than three weeks but occasionally there can be longer hold-ups. Historically registration is effected after the new owner has moved in to the premises therefore 'speed' is not typically primary concern but if it is urgent that the the registration takes place urgently then you or your solicitor should communicate with the Registry to express the reasoning for an expedited registration.
I'm refinancing my existing house to a buy to let loan with HSBC Bank and I will use the rest of the raised equity towards further property. The neighborhood we are looking at is Wollaton. Will your lawyers be able to act for the two mortgage companies and link together the two deals?
Make use of our search tool on this page to be sure that the lawyers are approved by both mortgage companies. Assuming that they are your solicitor should be able to simultaneously deal with the two conveyancing matters but you should have a chat with you solicitor and communicate your desired outcome and requirements.
Why can I not complete our conveyancing in Wollaton on a bank holiday?
This is due to the fact that on completion the money will pass between the banks of the purchaser and owner’s conveyancing practitioner and currently this can only occur on a business day. So you can't complete on a saturday or sunday either.