My grandson is buying a house that has just been built in Bankside with a mortgage from Coventry BS. His conveyancer has said that there is a delay in completing 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 purchase. Therefore, it will be provided to your son’s lawyer who should be on the Coventry BS conveyancing panel as a standard part of the process, and to the valuer 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 Coventry BS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I own a freehold house in Bankside yet charged rent, why is this and what is this?
It’s unusual for properties in Bankside and has limited impact for conveyancing in Bankside but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.
Is it the case that all Bankside conveyancing solicitors on the Aldermore conveyancing panel are overseen by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Aldermore approved list of solicitors they would need to be regulated by the SRA. Some mortgage companies do list licenced conveyancers on their panel and in that case the practice would be overseen by the CLC.
We had chosen conveyancers locally in Bankside on the TSB solicitor panel. They are now charging me an additional fee for handling the TSB mortgage. Is this a supplemental conveyancing fee specified by TSB?
Unfortunately, so long as it is in their Terms and Conditions or estimate then yes your conveyancer can levy a fee for this. This fee is not set by TSB but by your Bankside lawyer. Numerous firms on the TSB panel will charge an ‘acting for lender’ fee and others do not.
Two weeks ago we had a mortgage agreed in principle with Nationwide. Bankside conveyancing solicitors were chosen. How long does it take for Nationwide to forward the offer to the property lawyer?
Some lenders take longer than others. Have Nationwide completed the valuation? Have you informed Nationwide as to your lawyers' details and checked that your lawyers are on the Nationwide conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Bankside. Conveyancing is necessary evil 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 are examples of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Bankside
Please confirm the Lease plans are surveyor prepared. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Forfeiture - bankruptcy or liquidation must not apply under this provision.
As co-executor for the will of my uncle I am disposing of a residence in Neath but live in Bankside. My conveyancer (who is 200 miles from meneeds me to execute a statutory declaration before completion. Could you suggest a conveyancing lawyer in Bankside to witness and place their company stamp on the document?
Technically speaking you should not need to have the documents attested by a conveyancing solicitor. Normally any notary public or qualified solicitor will do regardless of whether they are located in Bankside
I am an executor of my recently deceased mum’s Will, with a bungalow in Bankside which is to be sold. The property is unregistered at the Land Registry and I'm told that some buyers solicitors will insist that it is in place before they will move forward. What's the mechanism for this?
In the circumstances you refer to it seems prudent to apply to register in the names of the personal representative(s) as named in the probate and in their capacity as PRs. HMLR’s online guidance explains how to register for the first time and what is required re the deeds and forms. You would need to include and certified copy of the probate as well and complete the form FR1 to refer to the PRs as the applicant.